VietNamNet Bridge – Lawmakers yesterday, May 14, urged the Government to diversify its policies and confirmed the need to amend the Law on Co-operatives in order to improve the economy.

Addressing a meeting of the NA Economics Committee, deputy Cao Si Kiem said the Government should not only support enterprises but also focus on backing up production.

"It is particularly important to find markets for products," he said.

Lawmakers also recommended the Government maintain its ongoing measures to curb inflation and use flexible monetary policies.

Among suggestions highlighted at the meeting were reducing interest rates to about 15 per cent per year, increasing the disbursement of State investment, encouraging investment from other players in the economy, generating jobs and fighting corruption.

The amended co-operatives bill was expected to promote the new co-operative model, putting existing co-operatives nationwide back on the right track and strengthening the collective part of the economy, according to the deputies.

The bill's nine chapters and 66 clauses explained the differences between co-operatives and enterprises in terms of establishment goals, ownership, economic relations, management and distribution relations.

The bill was also expected to improve the competitiveness of farming households and small and medium-sized companies.
Deputy Kiem said the amended Co-operatives Law managed to define the new co-operative model, which was both in accordance with international practice and the country's situation.

Some deputies said that State management of co-operatives should be more specific. Others feared that allowing co-operatives to establish their own enterprises and buy shares, as stipulated in the new bill, could cause overlap in ownership later on.
The Law on Co-operatives was first issued in 1996.

VietNamNet/Viet Nam News