Driving Forces for Innovation and Development of Collective Economy

From July 1, 2024, the 2023 Cooperative Law (HTX Law) will officially come into effect, creating a favorable legal framework for the development of collective economy organizations. The 2023 HTX Law further refines regulations on the organization and operation of cooperatives, meeting the demands for the development of the collective economic sector in the new phase.

In the province, the collective economic sector holds a significant position with over 1,100 cooperative groups and more than 600 cooperatives currently operating. This sector has attracted over 113,000 members, created regular employment for approximately 13,500 workers, with an average income of 5 million VND per person per month.

According to Ms. Vu Thi Minh Tam, Vice Chairwoman of the Provincial Cooperative Alliance, the operation methods of cooperatives in recent years have undergone notable changes. A number of agricultural cooperatives have formed successful value chains linked to local key products. Over 150 cooperatives in the province now have commercial products, and nearly 130 products from cooperatives have met OCOP standards, with at least a 3-star rating. The 2023 HTX Law and its accompanying regulations provide favorable conditions, creating a foundation for cooperatives to strengthen their organizations, enhance their capacity, leverage advantages with new directions, and increase market competitiveness.

Compared to the 2012 HTX Law, the 2023 version introduces several new provisions that clarify the nature and role of cooperatives in supporting and developing their members, ensuring and promoting the fundamental principles of cooperatives, and attracting diverse participants. The new law grants cooperatives additional rights, such as establishing enterprises to support the activities of collective economic organizations; requiring members to register their needs for products and services to build and implement plans for product supply and consumption; and providing products and services to external markets after fulfilling obligations and ensuring members' interests. It also fully incorporates the 8 key policies from Resolution No. 20-NQ/TW, dated June 16, 2022, from the Fifth Central Committee Conference of the 13th Party Congress, which aims to continue innovating and developing collective economy organizations, driving sustainable growth of cooperatives and collective economic organizations.

To ensure the 2023 Cooperative Law is effectively implemented, the relevant sectors and local governments in the province will continue to innovate and enhance the quality of content, methods, and forms of communication, ensuring they are appropriate, practical, and effective for each target group. In particular, special attention will be given to guiding, advising, and assisting cooperative groups, cooperatives, and members in quickly accessing the 2023 HTX Law and effectively implementing the supporting mechanisms and policies. Regular monitoring will be carried out to identify the advantages, difficulties, and challenges faced by cooperatives when applying the provisions of the 2023 HTX Law, in order to provide suitable support solutions.

Nguyen Hue