PM: Developing collective economy must start from people’s demand

The resolution was adopted at the fifth plenum of the 9th Party Central Committee.The PM hailed the improving awareness of the collective economic development, evidenced by the 2012 Law on Cooperatives on the back of seven basic principles of the International Cooperative Alliance.The number of cooperatives increases over years with new models. However, their contribution to the country’s gross domestic product remains modest and tends down.He suggested learning from international experience to fully tap the power of new-style cooperatives and collective economic models.Mechanisms to develop cooperatives and working groups must be fine-tuned, and coordination with other economic sectors, especially businesses, strengthened, towards opening up more new markets for farmers, the leader said.He also asked for facilitating labour training, land and finance-credit policies, science-technology,...

Prime Minister Nguyen Xuan Phuc at the event (Photo: VNA)

Source: VNA