With 466 yes votes from the 472 National Assembly (NA) deputies, or 94.33%, the 15th NA adopted the Law on Cooperatives (revised) on June 20 as part of the ongoing fifth session.
NA deputies at the ongoing fifth session (Photo: VNA)
Hanoi (VNA) – With 466 yes votes from the 472 National Assembly(NA) deputies, or 94.33%, the 15th NA adopted the Law on Cooperatives(revised) on June 20 as part of the ongoing fifth session.
The law, comprising 12 chapters and 115 articles, will takeeffect from July 1, 2024.
It includes regulations on the establishment, management, reorganisation, dissolution, bankruptcy andrelated activities of cooperative groups, cooperatives and cooperative unions,as well as State policies on the development of cooperative groups,cooperatives and cooperative unions.
Particularly, the law clarifies the minimum and maximumcapital contributions by official members to the cooperatives. Accordingly, amember can contribute 30% at maximum to the charter capital of a cooperativeand not more than 40% to the chartercapital for a cooperative union.
NA deputies vote to approve the Law on Cooperatives (revised) (Photo: VNA)
The total capitalcontribution of all members being foreign-invested economic organisations and foreign individual investors must not exceed 30% of the charter capital of acooperative or a cooperative union, it said.
Also on June 20, NA deputies approved a resolution on the investmentpolicy for a project to construct a road connecting National Highway 27C and Provincial Road 656 in the south-central province of Khanh Hoa, linking with neighbouringprovinces of Lam Dong and Ninh Thuan, with 471 yes votes.
The project, which has a total investment of about 1.93trillion VND (82.05 million USD), including 1 trillion VND from the centralbudget, will be implemented from 2023 to 2027.
It aims to complete the transport system connecting with twomountainous districts of Khanh Son and Khanh Vinh following Khanh Hoa’stransport planning, creating favourable conditions for the localities to boosttheir socio-economic development, improving the system of inter-regional transportationof goods with Ninh Thuan and Lam Dong, and strengthening defence-security inthe region./.
A delegation of the Ministry of Planning and Investment paid a visit to Israel from September 4 to 9 to learn experience in developing the collective economy and cooperatives there.
Draft revisions to the Law on Radio Frequencies and the Law on Civil Defence were scrutinised by the National Assembly (NA) on November 9, the 17th working day of the 15th parliament’s ongoing fourth session.
Deputies of the 15th National Assembly (NA) are scheduled to vote to approve three laws and one resolution on June 20 as part of their ongoing fifth session.
New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
Party General Secretary To Lam stressed that the Central Public Security Party Committee must be fully aware of the extremely important role of the People's Public Security force in the country's new revolutionary phase, so as to guide each branch and level of the force as the nation undergoes transformation.
Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
The ministry has instructed Vietnamese representative agencies in Israel, Iran, as well as those in neighbouring countries, to closely monitor the situation and request local authorities to ensure absolute safety for Vietnamese citizens living, studying, and working in high-risk areas.
Senior Vietnamese leaders on June 19 sent letters of congratulations to New Zealand leaders on the occasion of the 50th founding anniversary of Vietnam – New Zealand diplomatic relations (June 19, 1975 – 2025).
The Party chief attributed the achievements in the first half to the continuous, direct, and comprehensive leadership of the Politburo and the Secretariat of the Party Central Committee, and the close and effective coordination of relevant ministries, sectors and localities.
General Nguyen Tan Cuong, Chief of the VPA’s General Staff and Deputy Minister of National Defence reaffirmed Vietnam’s unwavering gratitude for Cuba’s invaluable support during its struggle for independence and nation-building efforts, and pledged to stand shoulder-to-shoulder with Cuba as it navigates current challenges.
Vietnam is a country with which Russia shares a special relationship. In the 1950s and 60s, particularly during Vietnam’s struggle for independence, the two countries forged a deep bond. While much has changed over time, the friendship and cooperation between our nations have endured, said Russian President Vladimir Putin.
For 50 years, Vietnam and New Zealand have worked together to uphold peace and prosperity for their peoples and the region. The friendship, cooperation, and mutual understanding Vietnam and New Zealand nurtured have grown from a seed into a deeply rooted, strong, and thriving tree, she stressed.
Since the Strategic Partnership was established in 2020, Vietnam and New Zealand have witnessed steady growth in the relations. Beyond the remarkable 40% increase in bilateral trade over five years, political relations and multilateral interactions, particularly within the CPTPP framework, have remained highly positive.
Known as the “four pillars for Vietnam’s ascend”, the Pobiburo's Resolutions 57, 59, 66, and 68 focus on cultivating a robust national entrepreneurial spirit, unlocking resources for innovation across society, and accelerating the development of digital economy, knowledge-based economy, green economy, and circular economy, propelling Vietnam forward rapidly and firmly on the path of modernisation and international integration.
Minister of Finance Nguyen Van Thang cleared up deputies' concern regarding how to spur socio-economic growth, renew traditional growth motives and establish new momentum for development.
Vietnam proposed several priorities: narrowing the digital divide, strengthening women’s leadership in the digital economy and AI governance, and mobilising sustainable financing for gender equality initiatives in line with each country’s national priorities and context. Vietnam also advocated for genuine women’s participation and leadership across all areas of public life.
NA deputies at the ongoing fifth session (Photo: VNA) 
NA deputies vote to approve the Law on Cooperatives (revised) (Photo: VNA) 
