The Hoa Binh Cooperative Alliance held a New Year meeting with its member cooperatives on February 25 to review past achievements and outline future goals.


 Leaders of the provincial Cooperative Alliance hand over certificates of merit to individuals with outstanding achievements in developing the collective economy.

In 2024, significant efforts were made by local authorities to address challenges and foster the growth of the collective economy and cooperatives. As a result, 63 new cooperatives were established, surpassing the annual target by 80%, while seven cooperatives were dissolved. By the end of the year, the province had 174 cooperative groups, 602 cooperatives, and three people's credit funds, of which 166 cooperative groups, 525 cooperatives, and all three credit funds were operating.

 

The average revenue per cooperative reached 1.58 billion VND (61,815 USD), with an average profit of 174 million VND, marking increases of 4.34% in revenue and 6.09% in profit compared to 2023. Additionally, the average monthly income of cooperative members and workers rose 2.86% year-on-year, reaching 4.67 million VND per person. Cooperatives continued to play a vital role in rural, mountainous, and disadvantaged areas by supporting households in economic development, creating jobs, enhancing product value and contributing to poverty reduction while ensuring social security.

In its efforts to provide consultancy and support, the provincial Cooperative Alliance organised 30 seminars on legal policies, cooperative establishment procedures, and business promotion. It also assisted four cooperatives in showcasing their products at key events, including the "CoopStar Awards 2024" and the Forum on Cooperative Economy 2024 hosted by the Vietnam Cooperative Alliance (VCA).

For 2025, the alliance has set ambitious goals, including a 2% increase in membership. It will conduct inspections and provide advisory services for at least 20 member cooperatives to ensure compliance with the Cooperative Law 2023. Additionally, it will support 10 cooperatives in successfully organising their annual meetings, serving as models for replication. Further efforts will focus on expanding market access, with plans to assist 30 cooperatives in participating in trade promotion programmes and business networking opportunities.

On this occasion, the VCA honoured six individuals with the insignia "For the Cause of Cooperative Development." Meanwhile, the provincial Cooperative Alliance presented certificates of merit to five collectives and four individuals in recognition of their oustanding contributions to the growth of the collective economy.

 

 


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