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Twelve cooperatives and people’s credit funds newly established

In the first six months of 2008, the whole province has newly established 12 cooperatives and people’s credit funds, obtaining 60 percent of the planned target with the total charter capital of VND73,950 billion (US$4,461,538) with 241 members.

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Up to June 2008, the whole province had 190 cooperatives, cooperative alliances and people’s credit funds with the total charter capital of VND307,688 billion (US$18,563,379) with 34,532 members. Fairly good and good cooperatives make up 44 percent. Average cooperatives account for 31 percent and weak ones 25 percent.

In the six months, the operation of these organizations has gained a considerable growth and their business gradually becomes stable, adapting to the market mechanism.

Reported by Thanh Le, Translated by Tuyenvanah

 

Author: admin

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