Job promotion in cooperative economic sector

Ha Noi, Dec. 29 (VNA) -- The National Fund for Job Promotion has since 1993 granted VND 166,899 billion to 1,543 job creation projects, providing jobs for more than 45,000 people.

The Viet Nam Cooperatives' Alliance (VCA) has been assigned by the State to manage loans granted by the National Fund for Job Promotion to the cooperative economic sector, and small-and medium-scale enterprises.

Apart from managing investment capital granted by central agencies, the VCA chapters in 21 provinces and cities are also responsible for managing the local Fund for Job Promotion. They have closely coordinated with the State Treasury and relevant local agencies to better conduct the national job promotion programme, thus contributing to consolidating and developing the cooperative economy.

Over the past half century, the cooperative economy has made important contributions to rural economic development, helping improve rural people's living conditions. Together with the State-run sector, the cooperative economic sector plays an important role in the national economic development.

Last year, the sector contributed a total production value of VND 35,100 billion or 9 percent of the country's gross domestic product (GDP).--VNA