The event will also map out future direction for collective economy. A representative of the Ministry of Planning and Investment told a press conference on Wednesday that State agencies, businesses, and international organizations will learn lessons to develop the collective economy.

Vietnam has 22,860 cooperatives and more than 100,000 cooperative teams. Over the past 15 years, their contributions to Vietnam’s GDP has decreased, while the contributions of household economy has accounted for 30% of the GDP.