PUTRAJAYA: Cooperatives must embrace digitalisation, not only in financial matters but also in marketing their products and services, says Datuk Seri R. Ramanan.
The Deputy Entrepreneur Development and Cooperatives Minister said as the world shifts towards a green economy, cooperatives have a significant opportunity to lead sustainability efforts through sustainable agriculture, renewable energy, and community-based tourism.
"The cooperative business model, which prioritises mutual benefit, makes it well-suited to drive these initiatives," he said at the closing ceremony of the Jom@Coop 2025 programme here on Wednesday (Sept 17).
Ramanan added that cooperatives have great potential to grow and thrive, but must be willing to transform in order to stay relevant in an ever-changing world.
"History shows that cooperatives are resilient, balancing both economic and social goals during crises," he said
He stressed that cooperatives need a clear and inspiring vision for their members, one that evolves to meet new challenges.
"This vision must be dynamic, regularly reviewed to align with the changing landscape," Ramanan said.
He also highlighted the importance of good governance in cooperatives, noting that efficient and trustworthy management is essential to safeguarding their assets and wealth.
"Clear communication between leadership and members is crucial to ensure everyone understands the cooperative's direction and works towards common goals," he said.
Ramanan added that cooperatives not only support the 13th Malaysia Plan but also play a key role in the Madani economic agenda, which focuses on green economy, digitalisation, and food security.
"This is the time for cooperatives to step up as drivers of inclusive, sustainable and resilient economic development," he added.
In a press conference after the event, Ramanan shared that there are currently 16,000 registered cooperatives in the country, with 2,000 identified as inactive.
"We have many cooperatives in Malaysia but we are lagging behind compared to those in India, where cooperatives are more advanced," he noted.
On Jom@Coop, Ramanan said it was an initiative by the Cooperative Institute of Malaysia to engage with the public, especially cooperative leaders and members.
"This platform allows us to understand the needs of the people, share knowledge, and provide direct communication to the community," he said.
He added that the initiative also serves as a network of cooperation between the institute and agencies under the ministry, aimed at better serving the people.
Over 5,500 participants attended the Jom@Coop 2025 programme, which included forums, knowledge-sharing sessions, product exhibitions, and success stories from cooperatives, creating a platform for innovative and inclusive cooperative reforms. – Bernama
