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Kuala Lumpur: Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick believes that cooperative movement can play a vital role in the Government’s efforts to eradicate poverty in the country.

Apart from offering goods at a lower price and training their members to engage in business, he said cooperatives could also generate returns in the form of dividends.

“I’m confident that the cooperative movement is one of the many approaches which can help eradicate poverty,” he told reporters after launching COOPMart Koperasi Lembah Subang 2 (LS2) Selangor Berhad at the Lembah Subang 2 People’s Housing Programme (PPR), here, Saturday.

Earlier in his speech, Ewon said the COOPMart owned by Koperasi LS2 Selangor Berhad and established with the ministry’s support through the Cooperatives Commission of Malaysia (SKM) and the Local Government Development Ministry, was a government initiative to reduce the cost of living.

He said the Ministry, through SKM, had allocated RM360,000 to Koperasi LS2 Selangor Berhad to partly finance COOPMart’s development costs.