Cooperatives for prosperity

ON Aug 25, the Cooperatives (Amendment) Bill 2020 (the Bill) was tabled for first reading in Parliament. However, it did not garner much public attention compared to the Covid-19 (Temporary Measures for Reducing the Impact of Coronavirus Disease 2019) Bill, which passed the third reading on the same day.

This is unfortunate because the cooperatives sector has potential to generate economic growth while also doing good. It is part of the third sector of the economy, comprising social enterprises, community-based organisations, voluntary organisations and charities.