Cooperatives can transform, empower local communities - Penang Deputy CM

GEORGE TOWN, Feb 13 (Bernama) -- The cooperative movement must re-mobilise the cooperative sector to increase its contribution to the country’s Gross Domestic Product (GDP) and also to transform and empower the economy of local communities in Penang.

Deputy Chief Minister I Datuk Ahmad Zakiyuddin Abd Rahman said the emphasis on the development of the cooperative movement was also outlined in the State Government Plan to improve the socio-economic conditions of the local communities in the state.

“The state government also recommends that cooperatives move from the domestic market to the global market and use the cooperative movement in the development of entrepreneurs because this move is crucial in the effort to improve competitiveness as well as the business ecosystem thus increasing its contribution to the GDP.

“The state government is always on the ground together with agencies under the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) and other agencies to help the cooperative movement, by offering grants and funding to entrepreneurs and traders,” he told reporters here today.

He was met after officiating the 2023 Penang State Cooperative Movement Strengthening Programme which was also attended by the Penang Malaysia Co-operative Societies Commission (SKM) director Norlelah Samsudin.

Ahmad Zakiyuddin said that the state government in close liaison with SKM had given a grant of RM300,000 to the cooperative movement in Penang through last year’s budget to help entrepreneurs and cooperatives affected by the COVID-19 pandemic.

He said the state has always stayed its course to ensure that the people enjoyed the blessings of prosperity through cooperatives because it was convinced that cooperatives are an effective way to stimulate entrepreneurship in the community.

“We are truly committed to supporting the development and enhancement programmes of the cooperative movement organised with SKM and other agencies, I hope the cooperative movement can take up the opportunity to implement transformational measures to empower each cooperative as a catalyst for socio-economic growth that is balanced, inclusive, progressive and sustainable.

“There are now 795 cooperatives in the state with a 191,000-strong membership and an income of RM283 million last year with assets of RM1 billion. After the COVID-19 pandemic, more than 50 per cent of the cooperatives are back actively,” he said, adding that he hoped it could create a strong and sustainable business network.

“I hope the cooperative movement will continue to grow in line with the transformation agenda of national economic development,” he said.

-- BERNAMA