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

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Economy