Consultation and Support Play a Crucial Role in Developing Collective Economy

​(News Portal – Dong Nai) - Dong Nai is one of the provinces with strong growth in the collective economy and cooperatives. In addition to the efforts of cooperatives, the province has implemented various programs and support policies such as training, education, credit loans, trade promotion programs, and legal consultations. 

Officials from the Dong Nai Cooperative Development Support Fund and the Farmers' Association of Trang Bom District conduct a survey on credit needs in the collective economy sector in Trang Bom District

In the new setting, the collective economy continues to be acknowledged as playing an essential role. With the introduction of the Cooperative Law 2023 and new policies, there is a need to enhance the effectiveness of support and consultation programs for cooperatives both nationwide and in Dong Nai.  

Numerous Support Programs for the Collective Economy  

According to Mr. Do Phuoc Dung, Chairman of the Dong Nai Cooperative Alliance, over the past five years, the alliance has proactively developed programs and plans to support the development of the collective economy in the province. Plans are structured by phases and annually, with regular reviews to suggest amendments and updates to provincial policies, resolving challenges, and creating favorable conditions for sustainable development of the collective economy.

In 2024 alone, the Dong Nai Cooperative Alliance organized eight training courses for 467 participants. Additionally, it collaborated with relevant units to host 12 workshops across various fields to improve knowledge and skills in developing the collective economy and cooperatives. The alliance also facilitated and organized opportunities for dozens of cooperatives to participate in trade promotion programs and fairs within the province and across the country.

In terms of financial support, Mr. Tran Quoc Huy, Director of the Dong Nai Cooperative Development Support Fund, reported that as of November 30, the agency had disbursed 67.6 billion VND for 285 projects from 283 cooperative members and two business entities involved in production and business activities, achieving 113% of the annual plan. It is projected that by the end of 2024, the disbursement rate will reach 116% of the target, with outstanding loans totaling over 86 billion VND, representing a 231% increase compared to the previous year.

To diversify resources and enhance access to development capital for the collective economy and cooperatives, the Dong Nai Cooperative Alliance has signed a cooperation agreement with the Dong Nai branch of the Vietnam Bank for Social Policies. This partnership aims to provide low-interest loans to support job creation in the collective economy sector. Mr. Le Ba Chuyen, Director of the Dong Nai branch of the Vietnam Bank for Social Policies, emphasized the importance of effective credit lending. Through the program, both parties demonstrate their responsibilities, especially by understanding the needs of individual cooperative members during production and business operations.

Enhancing Support Effectiveness

While proactive measures have been taken to support the development of the collective economy and cooperatives, overall development remains limited. According to Chairman Do Phuoc Dung, the recently enacted Cooperative Law 2023 and Government Decree No. 113/2024/ND-CP (dated September 12, 2024) have highlighted challenges in implementation. Strengthened consultation and support efforts, along with appropriate solutions, are required to ensure that cooperatives and cooperative groups operate in compliance with the new law.

From 2025 to 2030, efforts will focus on improving the quality, role, and position of the local Cooperative Alliance to better represent and protect the legitimate rights and interests of cooperatives, cooperative unions, and members. According to Mr. Dung, enhancing the quality of consultation and support services for the collective economy and cooperatives is a top priority. The Dong Nai Cooperative Alliance is currently developing a plan to strengthen its Cooperative and Enterprise Support Center. Key areas of focus include: human resource training; support in science, technology, and environment; trade promotion and market expansion; consulting services; and assisting cooperatives in participating in digital transformation programs.​

Similarly, Mr. Tran Quoc Huy noted that the implementation of policies supporting the development of the collective economy and cooperatives has faced several challenges, including a lack of coordination and synchronization, leading to suboptimal results. To better access preferential credit sources, including funds from the Cooperative Development Support Fund, there must be collaborative efforts between borrowers, lenders, and governmental and socio-political organizations at the local level.