14.08.2020, 15:31

Southern city to develop 300 additional cooperatives

Southern city to develop 300 additional cooperatives
Photo for illustration

Under the strategy, the growth rate of the cooperative economic sector will reach 7% a year and the sector is expected to contribute 0.6% to the hub’s total GDP. 

Accordingly, the city encouraged the development of the cooperatives in both quality and quantity in all industries and fields of the economy; attracting all genders, especially youth and women. 

The economic sector is expected to lure 30,000 more workers. 

For agriculture, Ho Chi Minh city encourages cooperatives to apply hi-tech. At the same time, the city will continue to build the model of advanced and modern agricultural cooperatives in five districts, and will also work to ensure all new-style rural communes have cooperatives and production-sales links.

For industry and handicraft sectors, the hub will develop cooperatives which are operating in embroidery, fine arts furniture, ceramics and bamboo and rattan. The city will also link cooperatives with industry encouragement programmes to support cooperatives and businesses in other economic sectors. 

For trade-services, Ho Chi Minh city will focus on developing cooperatives in the retail field, and building links among trade cooperatives and agriculture-agricultural service cooperatives. 

According to statistics of the city People’s Committee, Ho Chi Minh city now has more than 610 cooperatives, 526 of which operate in trade-services, industry-handicraft, credit, transport, agriculture, and environmental sanitation./.