PM chairs forum on digital transformation role in collective economy, cooperatives

The leader underlined the significance of digital transformation as a compulsory task in the national development.

Meanwhile, the collective economy is an obvious trend during international economic integration, which is suitable to the socialist-oriented economy, he said.

Resolution No.20-NQ/TW released at the fifth session of the 13th Party Central Committee clarified that the collective economy is an important economic sector that needs to be reinforced and developed and, together with the State-owned sector, to become a firm foundation for the national economy, he noted.

The Government leader said that over the years, the collective economic sector has seen strong growth in all aspects, including scale, structure, connectivity, and efficiency.

However, it has yet to meet all development targets and requirements, he said, pointing out various difficulties facing it, including poor capacity and efficiency and the loose organisation structure, and modest human resources quality. One of the reasons behind the problems is the slow digital transformation without specific strategy and actions.

Therefore, the collective economy and cooperatives should actively change their production and business methods, while speeding up digital transformation to adapt to the new development situation, he stressed.

The Government leader underlined that the forum aims to evaluate the achievements in digital transformation at the national level and in the field of collective economy and cooperatives in particular, while pointing out shortcomings, difficulties, challenges and current problems in the work, thus seeking suitable solutions and promoting digital transformation in the future, motivating the fast and sustainable growth of the sector.