Huge potential for Vietnam, Laos to collaborate in cooperative economy
Vietnam and Laos would combine forces in cooperative economy, heard a meeting in Hanoi on March 21 between President of the Vietnam Cooperative Alliance (VCA) Nguyen Ngoc Bao and head of the National Economic Research Institute of Laos Bouasone Bouphavanh.
Representatives of the National Economic Research Institute of Laos and the Vietnam Cooperative Alliance pose for a photo at the meeting in Hanoi on March 21 (Photo: VNA)
Hanoi (VNA) – Vietnam and Laos wouldcombine forces in cooperative economy, heard a meeting in Hanoi on March 21 betweenPresident of the Vietnam Cooperative Alliance (VCA) Nguyen Ngoc Bao and head ofthe National Economic Research Institute of Laos Bouasone Bouphavanh.
The Lao guest said that he was impressed bythe rapid changes in Vietnam, particularly in cooperative economy development.
He expressed his hope that Laos will branch out its cooperative system based onVietnam’s experience.
Meanwhile, Bao expected that bilateral collaboration in the cooperative economywill make significant contributions to bolstering the development of the sectorin the future.
He said that in the past few years, the Vietnamese Party and Government haveoutlined various policies and programmes to facilitate the development of thecooperative system in the context of the socialist-oriented market economy.
According to VCA Vice President Nguyen Van Thinh, Vietnam is now home to morethan 22,000 agricultural cooperatives, 3,500 higher than the amount recorded in2013. Many establishments have enjoyed effective operations, and each earned anaverage 264 million VND (11,400 USD) per year with the income of workersestimated at 40 million VND (1,730 USD) per person per year.
Most of the cooperatives see joining a value chain as an important factor fortheir sustainable development, Thinh said, adding that they have appliedadvanced technologies into production, and enhanced trade promotion in bothdomestic and foreign markets.
The same day, Bouasone Bouphavanh and the Lao working delegation visitedseveral new cooperative models in northern Vinh Phuc province. –VNA
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Representatives of the National Economic Research Institute of Laos and the Vietnam Cooperative Alliance pose for a photo at the meeting in Hanoi on March 21 (Photo: VNA) 
