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Vietnam will have 14,500 new general directors by 2012?
If the National Assembly ratifies the new co-operative bill which replaces the 2003 co-operative law, Vietnam will have at least 14,500 new general directors and chairs of the board of directors. The worrying thing is that 30 percent of the leaders of the economic institutions still have not been trained.
Under the cooperative bill, the title of “head of cooperative” will change into “director” or “general directors”, while “head of the managing committee” will turn into “chairs of the board of directors”.
It is highly possible that the proposal by the Ministry of Planning and Investment to “rename” the titles in cooperatives will be ratified by the National Assembly. Both the law compilation committee and the National Assembly’s Standing Committee have agreed to the “upgrading” of cooperative leaders.
As such, in the near future, Vietnam will have at least 30,000 more businessmen, even though the business leaders have very low qualification.
The Ministry of Planning and Investment in 2008 released a report which showed that 30 percent of cooperatives’ heads or 1,655 chair of the board of directors in the future were not trained. Especially, the figure is very high in Mekong Delta provinces, 44 percent. Meanwhile, 1,428 leaders (25.77 percent) only went through primary training courses or trained to become technical workers, and 1,726 leaders (31 percent) finished intermediate training courses (2-year training).
Especially, the directors/general directors in the future even have lower qualifications. The same report showed that 4,348 directors (31 percent) in the future have not gone through any training courses, while 3,759 people (27.23 percent) went through primary training courses and 4,219 people (30 percent) finished intermediate training courses.
Though the managers have low qualifications, every cooperative has high number of cooperative members. Each cooperative has 2,375 million dong (While a people’s credit fund has 12,903 million dong). Transport cooperatives have higher capital, about 5,404 million dong, while service cooperatives 4,642 million dong.
According to the General Statistics Office, the pre-tax profit of every cooperative is about 7.5 million dong a month, which is even lower than the profit of every variety store run by households. The average profit made by every cooperative member is 74,000 dong per annum, while the ratio of profit on average revenue is 4.56 percent and the ratio of profit on total capital is 4.25 percent. All the indexes are clearly lower than the bank deposit interest rates.
Meanwhile, Dao Trong Thi, Chair of the National Assembly’s Culture, Education, Youth and Children Committee has pointed out another problem of the cooperative bill.
Under the bill, cooperative members have the duty of using the products and services of the cooperatives.
“If the products and services of the cooperatives have the quality lower than the products and services offered on the market, while the prices are higher, it would be unreasonable to force cooperative members to use these products or services,” Thi said.
He went on to say that the above said regulation will hinder the development of cooperatives and not encourage cooperatives to develop as businesses.
According to the General Statistics Office, in 2007, the average income of cooperative member was 1.576 million dong a month, while the income of construction cooperative member was 1.53 million dong, and the income of service cooperative member was 1.42 million dong. The incomes of the cooperative members in the three sectors were higher than the average income per capita in Vietnam in 2007, but were much lower than the average income of the labourers working in enterprises.
vietnamnet, Dau tu
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