Tenom: More than 16,000 active cooperatives nationwide have recorded an annual revenue of RM68 billion, reaffirming their role as one of the key drivers of the people’s economy.
Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick, said the achievement reflects the growth of the cooperative sector into a strong and high-impact economic system, particularly in empowering grassroots communities.
“The cooperative sector is no longer a small entity, but a significant economic force for the people.
“We will continue to be proactive through various efforts, including ongoing amendments to the Co-operative Societies Act 1993 to ensure the law remains relevant, progressive and facilitative.”
He said this after officiating the Tenom District-level Mini Cooperative Carnival held at the Open Hall of Kampung Paguokon, Monday.
Ewon also said his Ministry would continue existing initiatives while introducing new programmes such as “Jejak Koperasi” and conducting stakeholder engagement on the proposed legal amendments.
According to him, cooperative membership across Malaysia has now surpassed 7.2 million, with total assets exceeding RM173 billion that positioning cooperatives among the key contributors to national economic growth.
“These efforts and achievements reflect the government’s commitment to transforming the cooperative ecosystem into one that is holistic, sustainable and conducive, to ensure the continued relevance and competitiveness of the cooperative movement in Malaysia,” he said.
