It is necessary to rename the Law on Cooperatives (amended)

On the morning of October 17, the Provincial National Assembly Delegation held a conference to collect comments on the Draft Law on Cooperatives (amended). Ms. Thai Thi An Chung - Deputy Head of the Provincial National Assembly Delegation chaired the conference. Photo: My Nga

At the conference, the delegates all chose to use the name of the draft Law as "Law on Cooperative Economic Organizations" instead of keeping the old name "Law on Cooperatives". The draft Law stipulates the subjects of application and the scope of regulation, all of which are related to cooperative economic organizations. Therefore, using the name "Law on Cooperative Economic Organizations" meets the requirements of more comprehensive and accurate content and contributes to enhancing the value of law-making activities, in line with the viewpoints, guidelines and policies of the Party and State towards this type of economic sector.

Representatives of some cooperatives assessed that the draft revised Law has been more detailed, delving into the development needs of the cooperative economy. Therefore, it creates a clear corridor for cooperatives to develop and integrate into the new market, creating favorable conditions for cooperative economic organizations to develop dynamically, effectively and sustainably. In addition, opinions suggested paying attention to the role of cooperatives. Currently, some cooperatives are facing many difficulties in a number of issues such as: office buildings, cultivated land, competitive prices, and internal credit.

A representative of Tho Thanh Cooperative, Yen Thanh District, said that the amended Law creates conditions for cooperative economic organizations to develop dynamically, effectively and sustainably. Photo: My Nga

At the conference, delegates focused on giving opinions on the Draft Law on Cooperatives (amended), focusing on regulations on members and obligations of cooperative members; regulations related to capital contribution activities, asset and capital management; land allocation; resource balancing; clearer regulations on representative organizations; roles, legal status and tasks of the Cooperative Union system; careful research on regulations on becoming a member of the Cooperative Union; on assigning to the Cooperative Union some public service contents, cooperative auditing...

Provincial leaders and departments and branches visited the clean vegetable production model in Nghi Loc district. Photo: Xuan Hoang

The draft Law on Cooperatives (amended) consists of 12 chapters and 111 articles. After nearly 10 years of implementation, the 2012 Law on Cooperatives has revealed a number of shortcomings and limitations, such as: cooperatives joining, operating and withdrawing from the market still face many barriers; the principle of openness for members when joining and withdrawing from cooperatives has not been ensured; regulations on the structure, organization and management of cooperatives are not yet suitable to reality; information on production and business activities of cooperatives still lacks transparency and reliability; regulations on assets and finances of cooperatives still have many shortcomings...

The drafting agency of the Law Project wishes to comprehensively supplement and amend the current Law on Cooperatives, create a favorable legal corridor, eliminate regulations that hinder market entry; ensure and promote the characteristics and basic principles of cooperatives; create conditions for cooperative economic organizations to develop strongly, contributing more to the national economy in the new situation.

The project will be submitted for comments at the 4th Session of the 15th National Assembly taking place this October.

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