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NEWS UPDATES Asean Affairs   May 23, 2018  

Only 2% cooperatives have access to loans

Cooperatives play an important role in improving the capacity and position of the economy. However, statistics of the Việt Nam Cooperative Alliance (VCA) show that only some 2 per cent of cooperatives have access to loans, while most still manage by themselves, VCA chairman Nguyễn Ngọc Bảo said.

According to a report of VCA, cooperative economy and cooperatives have rapidly developed in both quantity and quality, with turnover and profits increasing each year. However, many Vietnamese cooperatives still have internal problems, especially in the new period with the national start-up movement and the application of high technologies in agricultural development launched by the government.

To date, Viet Nam has more than 20,000 cooperatives, 93,266 cooperative groups and 59 cooperative unions in all sectors of agriculture, industry, commerce, service, construction, transport and credit. Cooperatives have played a significant part in promoting economic restructuring, building new rural areas, ensuring social security, stabilising politics and developing socioeconomic.

However, lack of capital makes it difficult for many cooperatives to expand their production or business, even potentially pushing them into bankruptcy, while cooperatives that want to access advanced technology also face many challenges.

The reason why cooperatives find it difficult to access loans is because they do not have collateral and do not meet the strict requirements of banks, the report explained.

Experts suggested that cooperatives should promote the building of trademarks and products for cooperatives to improve their value as well as register their intellectual property for traceability. In addition to this, enterprises should associate with cooperatives in consuming products, bringing cooperatives’ products to domestic and foreign fairs.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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