Yen Bai sees thriving collective economy

Economy

Yen Bai sees thriving collective economy

Friday, February 17, 2023

In addition to supporting ethnic minority communities, collectives in Yen Bai have actively studied the demand and strength of one another, serving their connectivity and promotion of production and business effectiveness.

Workers of the Vietnam Cinnamon Cooperative in Dao Thinh Commune, Tran Yen District, process cinnamon. (Photo: Manh Cuong)

Established in Na Hau commune in Van Yen district in 2019, the Na Hau Agriculture and Tourism Cooperative has effectively exploited on-site potential and strengths to raise sturgeons, black chickens, and indigenous pigs in association with the development of community-based tourism.

In 2022, its revenue hit 2 billion VND (84,370 USD) and profit neared 1 billion VND, creating jobs for 14 members with a stable income of 6.5 million VND each. Notably, its project on developing community-based tourism associated with the livelihoods of ethnic minorities in the Na Hau nature reserve was among the top three of the 2022 national startups programme.

A medicinal plant garden of the Vien Son Medicinal Production Cooperative in Van Yen district.

An increasing number of cooperatives and cooperative groups has so far been established and operated effectively. Last year, Yen Bai recorded 97 new cooperatives, bringing its total to 652. The cooperatives attracted 32,193 members operating in a variety of fields.

Last year, the average revenue and profit of each cooperative was 2.1 billion VND and 450 million VND, with the average income of an employee standing at 63.6 million VND. The cooperatives contributed over 30.36 billion VND to the State budget. About 61% of them operated effectively; and more than 80% of their products were rated from 3 stars to 4 stars under the One Commune, One Product (OCOP) programme.

In 2023, Yen Bai strives to set up more than 80 cooperatives and 300 cooperative groups.

Van Thong

Other news

Yen Bai attends Vietnam Expo 2024

Yen Bai province's booths at 33rd Vietnam International Trade Fair

YBO – Yen Bai province is popularising its advantageous industrial products and services at the 33rd Vietnam International Trade Fair (Vietnam Expo 2024) which is being held in Hanoi from April 3-6.

Yen Bai exerts efforts in forest restoration, greenhouse emissions reduction

Leaders of the provincial Farmers’ Association and Yen Binh district join in tree planting activity after the ceremony.

The Farmers’ Association of Yen Bai province has just cooperated with the Management Board of the Forest and Farm Facility (FFF) programme, the Vietnam Farmer’s Union (VNFU), the Farmers’ Association of Yen Binh district, and Tan Nguyen commune to launch a large timber afforestation and forest restoration campaign in an attempt to reduce greenhouse emission.

Yen Bai works to build brands for local products

Yen Bai consumers prefer products with clearly labelled sources of origin.

Branded products of Yen Bai province have received warm welcome from the market. In recent years, many enterprises have paid due attention to developing their brands and secure a foothold in the market.

Yen Bai promotes ODA’s effectiveness

The sub-project of the World Bank-funded Dynamic Cities Integrated Development Project is one of the key projects of Yen Bai province, helping create a new look for the locality.

Defining public investment disbursement, including foreign capital, is the most important task, Yen Bai province has proactively devised plans on how to use the funding and repay loans in line with local resources as well as arrange resources to pay debt and fulfill repayment obligations, ensuring that outstanding debt is closely controlled.

Economy