Continuing to innovate and improve collective economic efficiency

This provides the basis for ministries, branches and localities to seriously, synchronously and effectively implement their guiding viewpoints and strive for the best to successfully implement the collective economic development goals in accordance with Resolution No.20.

Accordingly, by 2030, there will be about 140,000 cooperative groups, with 2 million members; 45,000 cooperatives, with 8 million members; and 340 cooperative unions, with 1,700 member cooperatives.

The Government requires ministries, branches and localities to have a correct and full awareness of the nature, position, role and importance of the collective economy in the socialist-oriented market economy; continue to renew and perfect mechanisms and policies to encourage and support collective economic development; strengthen the leadership of the Party and the role of socio-political, socio-professional organisations and the Vietnam Cooperative Alliance in collective economic development.

It is also necessary to complete the legal framework on the collective economy with various forms of cooperative economic organisations; improve the ability to mobilise capital and increase common property; improve transparency in management and administration; improve the effectiveness and efficiency of state management of the collective economy; and build a centralised, unified and transparent state management apparatus for the collective economy in directing and operating from central to local levels.