(HBO) – The Hoa Binh provincial Steering Committee on Collective Economic Development on January 10 held a teleconference reviewing its 2021 activities. Vice-Chairman of the provincial People’s Committee and its head Dinh Cong Su chaired the event.

As of December 31, 2021, the province was home to 454 cooperatives, up 7.5 percent annually; four people’s credit funds and 211 cooperative teams, up 6.5 percent. Last year, 67 new cooperatives were established, up 3.08 percent annually and 18 cooperative teams, up 20 percent. Two representative offices of the Vietnam Cooperative Union are managing markets in the province. Collective economic organisations attracted 15,200 members and 26,000 workers. Average revenue and profit of each cooperative reached 2.23 billion VND and 250 million VND, respectively while average income of workers stood at 4.16 million VND each month per person. In cooperative teams, their revenue averaged 220.14 million VND each and profit at 56.5 million VND. The gap between revenue and expenditure of people’s credit funds reached 5.73 billion VND. The total profit of collective economic organisations hit 132.37 billion VND, or 0.24 percent of the added value and 0.43 percent of the province’s gross regional domestic product. Revenue to the State budget was estimated at 5.083 trillion VND, equivalent to 0.1 percent of the province’s State budget collection. This year, the steering committee set 12 targets.

Speaking at the event, Vice Chairman Su stressed that in order to fulfil 2022 targets, the steering committees on collective economic development at the provincial and district level need to continue following the Party’s guidelines and State laws and policies on collective economy, disseminating policies and legal documents and improving the capacity of workforce in cooperatives. Further attention must be paid to the implementation of policies on support and incentives for cooperatives in line with the Government’s Decree No.193/2013/ND-CP dated November 21, 2013 regulating in details several articles of the Cooperatives Law, the strengthening of State management on collective economy, and pooling the involvement of social forces and mass organisations at home and abroad for the effort./.