Vietnam: All support policies granted to cooperatives or associations of cooperatives

Policy

Support content

Human resource training and education policies

The State shall provide funds for formal professional and technical education and training programs taken by managers of cooperatives, associations of cooperatives or members of cooperatives.

Trade promotion and market expansion policies

The State shall provide support for cooperatives or associations of cooperatives so that they can attend domestic and overseas fairs and exhibitions; shall organize fairs and exhibitions specially designed for the cooperative sector; shall help cooperatives or associations of cooperatives build brands, trademarks and determine origin of products, develop and run the electronic information portal and e-commerce exchanges.

Application of new scientific, engineering and technological advances

- The national and local fund for science and technology development shall annually set aside amounts used for supporting cooperatives or associations of cooperatives in upgrade and application of technologies and shall report on results of these activities to state regulatory authorities in charge of state management of cooperatives and associations of cooperatives;

- The State shall fund scientific research by using corresponding state budget allocations granted to cooperatives or associations of cooperatives that develop projects in researching and applying scientific, engineering and technological advances which are approved by competent authorities.

Policies on access to funding sources and cooperative development support funds

- Cooperatives or associations of cooperatives that develop projects in new investment or investment in expansion of business and production capacity; those that do business in the agriculture field or at rural areas shall be entitled to interest rate relief and credit guarantee granted by cooperative development support funds, shall be given priority in lending funds from development banks and other credit institutions in accordance with law, shall be entitled to concessional loans under the Government's regulations on credit policies for agricultural and rural development;

- Cooperative development support funds shall perform their duties to grant credit guarantee and interest rate relief to cooperatives or associations of cooperatives.

* The Ministry of Finance shall preside over and cooperate with the Ministry of Planning and Investment, relevant ministries and sectoral administrations in appealing to the Prime Minister to provide instructions about regulations set forth in this paragraph.

Policies for facilitation of participation in target programs and socio-economic development programs

Qualified cooperatives or associations of cooperatives shall be preferred to participate in target programs and socio-economic development programs, including:

- Projects for infrastructure construction in the localities of their business and management of completed construction projects, including market projects and projects for construction of infrastructure intended for development of industrial clusters and rural trade village clusters;

- Other socio-economic development projects or programs in the localities of their business that are relevant to their competence.

Policies on establishment of new cooperatives or associations of cooperatives

- Founding members of cooperatives shall be provided free-of-charge with information, consultancy and training in legislation on cooperatives before incorporation of these cooperatives;

- Cooperatives or associations of cooperatives shall be offered counsels on formulation of their statutes, and shall provide instructions about and undertake implementation of the procedures for establishment, registration and structuring of business of cooperatives or associations of cooperatives.