Local collective economy reaches good results

Part 1: Effective economic models

Under the Politburo’s Conclusion No.56-KL/TU accelebrating the implementation of the Resolution of the 5^th plenary session of the 9^th Party Central Committee on further improving the effectiveness of collective economy; provincial Steering Board of Collective Economy’s Program No.01-CT/BCD implementing the Resolution of the 12^th National Party congress and the Resolution of the 10^th provincial Party congress on collective economic development for the period of 2016-2020…, the province has continued gaining important results in terms of collective economy, actively contributing to the local socio-economic development.

Renewal

Thanks to bravely applying VietGAP standards into production plus the support of the local sectors, authorities at all levels, Tan My fruit cooperative in North Tan Uyen district’s Tan My commune has maintained stable operation. Established in 2015, the cooperative has so far had around 60 hectares of pomelo, orange and tangerine growing with the annual output of more than 300 tons. On average, it can reach the annual income of VND10billion, generating jobs for 20 laborers with the average income of VND5million-VND6million per person per month.

Clients making transaction at An Thanh People’s Credit Fund in Thuan An town’s An Thanh ward

Whilst, Nhan Duc agricultural cooperative in North Tan Uyen district’s Hieu Liem commune has also continued affirming its position in the field of growing citrus fruit trees, due to sci-tech application into production. The cooperative’s annual revenue is estimated at more than VND30billion. Till now, the cooperative has also generated jobs for more than 30 laborers with the average income of VND5million and VND6million per person per month.

Also thanks to production technologies innovated, Thanh Long transport-construction cooperative in Ben Cat town’s My Phuoc ward has worked very effectively with the annual revenue of VND25billion-VND30billion, creating jobs for more than 120 laborers with the average salary of VND7million-VND8million per person per month.

Many other transport cooperatives, namely Minh Giang, Bau Bang, Ben Cat, Tin Thanh, Phu Tan…, have also worked effectively. They have continued improving their competitiveness, innovating production lines with the state-of-the-art equipment at requirements of the new context.

People’s Credit Fund as a highlight

The People’s Credit Fund is appreciated as one of the province’s most effective collective economic models, contributing to the local socio-economic development. The average income of members of the People’s Credit Funds in the province is now around VND10million-VND12million per person per month. The model has till now also generated jobs for laborers, contributing to promoting the shift of the local economic structure, eradicating hunger and reducing poverty.

Vo Minh Chanh, CEO of An Thanh People’s Credit Fund in Thuan An town’s An Thanh ward said that the fund has been always proactive to put forward appropriate solutions in order to opportunely remove difficulties…Upon this, the fund’s total capital mobilized in 2017 was more than VND428.3billion, up more than VND22.5billion compared to 2016 and the figure in the first half of 2018 reached nearly VND461.286billion with total outstanding loans at more than VND253.4billion.

Possibly affirming, the results of province-based cooperatives will be the foundation for the province to develop newly-style cooperatives, actively contributing to the local economic development.

Reported by Thoai Phuong-Translated by K.T