New direction for cooperatives in Vietnam needed

Dr. Ethel Sennhauser from the World Bank said at a meeting about Cooperatives in integration and competitiveness to grow that Vietnam needs to attract more young and intellectual people to work in new styled cooperatives.

The meeting was held by the Ministries of Agriculture and Rural Development; Planning and Investment; Vietnam Cooperative Alliance and the World Bank on May 20 in Hanoi.

The Ministry of Agriculture and Rural Development and Vietnam Cooperative Alliance said that the country has 10,204 cooperatives including 10,0000 agricultural cooperatives offering 12 million jobs for members and farmers.

However, most of cooperatives have small scale trade. They are weak in consuming agricultural produces. Moreover, the model transfer following the Cooperative Law 2012 was carried out slowly and around 20 percent of them halted operation.

Accordingly, Dr. Ethel Sennhauser said Vietnam should invite young intellectuals to take part in running the new style cooperatives. Besides, the standards for cooperative development should be market-oriented model to improve competitiveness in the agricultural sector.

Many experts shared the governments should multiply the cooperatives' models which work effectively to generate profits.

By Van Phuc - Translated by Uyen Phuong

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