Ha Noi actively supports development of collective economy

June 09, 2017 2:00 PM GMT+7

VGP – Ha Noi has issued support mechanisms and policies for cooperatives in a timely fashion over the past years, seeking to boost the development of the collective economy, according to the municipal People’s Committee .

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Specifically, as of December 31, 2013, the city’s cooperative development support fund made loans to 42 cooperatives and 326 cooperative groups with a total disbursed amount of VND100.75 billion (US$4.43 million).

The respective figures were 41 cooperatives, 201 cooperative groups and VND91.66 billion (US$4.03 million) in 2014; 30 cooperatives, 275 cooperative groups and VND92 billion (US$4.05 million) in 2015; and 40 cooperatives, 328 cooperative groups and VND91.23 billion (US$4.01 million) in 2026.

In the implementation of the policies to set up new cooperatives, Ha Noi has provided consultations and support for the establishment of 105 new cooperatives from December 31, 2013 to December 31, 2016, with a total funding of VND1.945 billion(US$85,580) allocated by the municipal budget.

Similarly, implementing the Finance Ministry’s Circular No. 171/2014/TT-BTC, eight cooperatives across Ha Noi has been financially supported to hire pavilions at product introduction fairs organized by the Ministry of Agriculture and Rural Development and the Ha Noi Department of Industry and Trade, with the total support amount of VND84 million (roughly US$3,700). Meanwhile, five cooperatives announcing their collective brands for fruit products, have been supported with VND500 million (US$22,000).

Ha Noi has also provided support for cooperatives through agricultural promotion and technology application programs. So far, a total support amount of VND12.936 billion has been allocated to help 205 cooperatives purchase farming machinery andi mplement the model of net house.

In addition, Ha Noi has provided VND22 billion for 25 cooperatives to develop infrastructure in the vegetable production areas under the city’s Quality and Safety Enhancement of Agriculture Products(QSEAP) project. One cooperative has been supported with VND4 billion to build a livestock waste treatment system.