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At the honoring conference for excellent workgroups and individuals in the two emulation movements of “Innovation, development, effective enhancement of cooperatives” and “cooperatives pioneer in poverty reduction and new rural building”, Nhat Hung Rubber Cooperative in Tan Uyen district’s Tan Binh commune affirmed its new model of cooperative economy.

At a rubber latex production line of Nhat Hung cooperative.

Overcoming difficulties

Founded in 2000, Nhat Hung Rubber Cooperative initially purchased rubber latex and processed latex in contracts. After 10 years of operation with countless difficulties and efforts of members, the cooperative has created a trademark of Nhat Hung rubber, specializing in supplying natural rubber latex products.

Reminiscing about the early period of establishment with the capital of VND140mil and cooperation of 9 members, the cooperative chairman Le Van Suong shared they nearly started with a zero number, without experience, without market and without skill. The cooperative applied flexible prices for clients. With many proper measures, the cooperative has had many familiar clients, creating a turning-point for its production and business.

Market expansion

In the first 5 years of operation, the cooperative’s business efficiency was at low rate, owing to high costs for market search and so on. With the motto of “mobilization for development”, the cooperative has focused on perfecting its apparatus, renovating managerial method, paying attention to human resources training for officials and laborers. In addition, the cooperative has invested over VND3bil to purchase new facilities and concentrated on taking care for rubber plantations.

As a result, after a short time, the cooperative’s business and production has reached positive changes, satisfying demand of nations of China, Korea, Taiwan…

Facing impacts on the global economic recession in 2008, the cooperative has rapidly set out plans of domestic market development, accelerated new partners and especially boosted exports. As a result, the cooperative has won a rapid recovery. Specifically, its turnover in 2009 reached VND420bil, up VND107bil from 2008, helping increase income for laborers.

At present, the cooperative has faced some obstacles but its plans eye a 10% growth target and strive to exceed the proposed goals. The unit will focus on expanding domestic market and aiming at seeking new partners.

Suong said that thanks to hi-unity, democracy and solidarity of members, the cooperative has overcome obstacles. This helps it gain successes in rubber production and export and diversify investment fields of building eco-tourism area, making rural traffic roads, trading in hotels and restaurants…

Possibly speaking, with proper measures and long-term vision, the cooperative has always won members’ trust, proving its effective cooperative model and good adaptation to market structure.

Reported by T.Huynh – Translated by A.C