Kota Kinabalu: The National Entrepreneurship Policy 2030 (DKN2030) has set a target of contributing RM60 billion in cooperative revenue generated by 2025, said Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick.
He said that through various efforts and initiatives that will be implemented under the policy, the revenue is expected to increase to RM100 billion by 2030.
“To strengthen the cooperative movement, DKN2030 has outlined the role of cooperatives through a strategic core, such as stimulating the development of integrated and holistic entrepreneurship that focuses on cooperatives as a driver for inclusive socioeconomic development, among other things,” he said.
He said this when officiating at the Sabah Cooperative Wholesale and Retail Sector Network Enhancement programme here Monday which was attended by more than 120 participants from 60 cooperatives throughout Sabah.
He said that currently there are 15,315 cooperatives in Malaysia with a total income of RM38.5 billion, adding that a total of RM16.99 billion in shares capital and cooperative membership fees have been recorded with total assets of RM159.9 billion.
He said this achievement also boosted the cooperative movement in Sabah, where the total number of registered cooperatives stood at 1,706, with a total of 343,230 members.
“The accumulated shares and fees stood at RM220 million, the accumulated assets at RM826.44 million, meanwhile the total revenue stood at RM437.15 million.
“It is understood that of that figure, 441 cooperatives are involved in the wholesale and retail sector and I hope that cooperatives will continue to contribute to the country’s income,” he said.
