(VOVworld) – The International Labor Organization (ILO) and the Vietnam Cooperative Alliance have signed a memorandum of understanding to raise the efficiency of Vietnam’s cooperatives.

Signing ceremony of an MoU between ILO and Vietnam Cooperative Alliance (Photo: BNEWS)

Director of ILO Vietnam, Chang Hee Lee, and the Chairwoman of the Vietnam Cooperative Alliance signed the MoU. Under it, the program will be implemented over 2 years (2016-2017) to support Vietnam  in mapping out targets, strategies and policies in employment, increasing incomes, poverty reduction and sustainable economic and business development. Mr. Chang Hee Lee said the signing of the MoU was a significant step in the effort by strategic partners for the common goals of generating more jobs, increasing income and reducing poverty in Vietnam’s mountainous and remote areas: “Vietnam has developed vigorously in different areas, especially in economics. But the poverty rate is still high in Vietnam’s remote and mountainous areas. The cooperation between the ILO and the Vietnam Cooperative Alliance is important to generate more jobs and reduce poverty. The role of the Alliance is significant to improve the living standards of its 13 million members”.