New Text Notification

Vietnam: Increasing the rate of agricultural products consumed made by cooperatives to their members

15:52, 21/09/2017

This is a content amended by Decree No. 107/2017/NĐ-CP of Vietnam’s Government on amendments and supplements to a number of articles of Decree No. 193/2013/NĐ-CP elaborating on certain articles of the Law on Cooperatives).

According to Decree No. 107/2017/NĐ-CP of Vietnam’s Government, the rate of products, services or employments supplied and consumed under commitments made by cooperatives or associations of cooperatives to their members, or by member cooperatives to non-member customers shall not exceed 50% of total value of agricultural and non-agricultural products or services supplied by cooperatives and associations of cooperatives (this rate shall not exceed 32% of total value of agricultural and non-agricultural products or services according to current regulations).

Moreover, Decree No. 107/2017/NĐ-CP also mentions some notable amendments as follows:

- Repealing the copy of practicing certificate of one or more individuals in the application documents for registration of establishment of branches, representative offices or business locations of cooperatives or associations of cooperatives.

- In case of their business closure, non-divisible property shall be transferred to local authorities or other organizations (transfer of them to other cooperatives or associations of cooperatives is preferred) located in the same localities as these cooperatives or associations of cooperatives in order to meet objectives of serving public interests of population in these localities.

Decree No. 107/2017/NĐ-CP of Vietnam’s Government takes effect from September 15, 2017.

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