Co-operatives federation empowers co-operatives under six economic sectors, says Noh Omar

• The six sectors are wholesale and retail; tourism, personal care and health; financial services; farming; real estate and construction industry; and agriculture and agro-based industries.

KUALA LUMPUR (Aug 9): The establishment of the co-operatives federation, representing a co-operatives union, empowers the co-operative movement that carries out activities under the six economic sectors.

The six sectors are wholesale and retail; tourism, personal care and health; financial services; farming; real estate and construction industry; and agriculture and agro-based industries.

Entrepreneur Development and Cooperatives Minister Tan Sri Noh Omar (pictured) said co-operatives are seen as important in the socio-economic development of society, especially in helping deal with the people’s cost of living.

“In view of the importance of the cooperatives sector in the development of socio-economy and in addressing the cost of living of the people, the government has agreed that the plantation co-operatives be given assistance in the recruitment of foreign labour.

“Besides that, the wholesale and retail cooperatives have implemented the Supply Chain Empowerment for Co-operatives Programme (SCOPE) as an effort to ensure the consistent supply of consumer goods at cheaper prices,” he said during a question and answer session at the Dewan Negara on Tuesday (Aug 9).

He was responding to a question by Datuk Juhanis Abd Aziz on the mechanism implemented to increase the role of the co-operatives sector as one of the drivers of the nation’s economy.

Noh said RM100 million has been channelled for the plantation and agro-based industries under the revolving capital fund by the Malaysia Co-operative Societies Commission to assist co-operatives to develop the agro-food industry.

He said there are 14,834 co-operatives registered with a membership of 7.08 million people up to Dec 31, 2021.

A total share capital and co-operatives fees of RM16.54 billion and co-operatives assets of RM154.98 billion were registered.

The contribution of the co-operatives to the national income amounted to RM37.89 billion.

KUALA LUMPUR (Aug 9): The establishment of the co-operatives federation, representing a co-operatives union, empowers the co-operative movement that carries out activities under the six economic sectors.

The six sectors are wholesale and retail; tourism, personal care and health; financial services; farming; real estate and construction industry; and agriculture and agro-based industries.

Entrepreneur Development and Cooperatives Minister Tan Sri Noh Omar (pictured) said co-operatives are seen as important in the socio-economic development of society, especially in helping deal with the people’s cost of living.

“In view of the importance of the cooperatives sector in the development of socio-economy and in addressing the cost of living of the people, the government has agreed that the plantation co-operatives be given assistance in the recruitment of foreign labour.

“Besides that, the wholesale and retail cooperatives have implemented the Supply Chain Empowerment for Co-operatives Programme (SCOPE) as an effort to ensure the consistent supply of consumer goods at cheaper prices,” he said during a question and answer session at the Dewan Negara on Tuesday (Aug 9).

He was responding to a question by Datuk Juhanis Abd Aziz on the mechanism implemented to increase the role of the co-operatives sector as one of the drivers of the nation’s economy.

Noh said RM100 million has been channelled for the plantation and agro-based industries under the revolving capital fund by the Malaysia Co-operative Societies Commission to assist co-operatives to develop the agro-food industry.

He said there are 14,834 co-operatives registered with a membership of 7.08 million people up to Dec 31, 2021.

A total share capital and co-operatives fees of RM16.54 billion and co-operatives assets of RM154.98 billion were registered.

The contribution of the co-operatives to the national income amounted to RM37.89 billion.