On February 19, 2020, the Ministry of Planning and Investment issued Circular 01/2020 / TT-BKHDT on guidelines for classification and evaluation of cooperatives. This Circular takes effect from April 1, 2020.
According to Circular 01/2020 / TT-BKHDT, Co-operatives can be divided according to 04 criteria: According to products and services provided to members; By member size; According to the size of the total capital; and By industry. Specifically, according to the total capital sources, cooperatives are classified into:
1. A micro-capital cooperative is a cooperative with a total capital of under VND 1 billion;
2. Small-sized cooperatives are those with a total capital of between VND 1 billion and under VND 5 billion;
3. Medium-sized cooperatives are those with a total capital of between VND 5 billion and under VND 50 billion;
4. Large-scale cooperatives are those with a total capital of VND 50 billion or more.
Circular 01/2020 / TT-BKHDT was issued with the purpose of expressing the true nature of cooperatives in accordance with the Law on Cooperatives. In addition, ensuring cooperatives in accordance with the characteristics of the industry and the field of production and business activities.