(VOVWORLD) - Developing and improving the operational efficiency of the collective economy is an important and constant political task, Deputy Prime Minister Le Minh Khai said at a ceremony to honor 100 cooperatives held on Thursday in Hanoi.
 Deputy Prime Minister Le Minh Khai speaks at the ceremony to honor 100 cooperatives, Hanoi, April 11, 2024.
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Mr. Khai affirmed that the Government will continue to support collective economic organizations and cooperatives and create favorable conditions for the collective economic sector and cooperatives to develop rapidly and sustainably and contribute to national achievements.
Collective economic organizations and cooperatives need to promote innovations to deal with changes and go ahead with self-reliance, he said.
"Changes are needed in both thinking and action for the development of collective economic organizations, coupled with innovation, application of advanced technology, and green transformation. We need to strengthen links in the value chain and improve both the quantity and quality of the participating workforce,” Mr. Khai noted.
The Deputy PM urged cooperatives that won the 2024 Cooperative Star Award to continue to take the lead in cooperation, production, and business linkages; build and develop product brands; and enhance competitiveness in domestic and world markets.
The Cooperative Star Award honors humane business models for the progress of society, self-reliance, creative labor, and efforts to overcome difficulties.
This year’s 100 honorees represent more than 31,000 cooperatives nationwide and are leaders in effectively implementing collective and cooperative economic development movements.