PUTRAJAYA: Cooperatives must fully embrace digitalisation across both financial operations and marketing strategies to remain competitive according to Deputy Minister of Entrepreneur Development and Cooperatives Datuk Seri R. Ramanan.
He highlighted the significant opportunity for cooperatives to lead sustainability efforts through sustainable agriculture, renewable energy, and community-based tourism as the global economy shifts towards green practices.
The cooperative business model’s focus on mutual benefit makes it ideally suited to drive these sustainable initiatives he stated during the closing ceremony of the Jom@Coop 2025 programme.
Ramanan emphasised that cooperatives possess great potential for growth but must be willing to transform to maintain relevance in an evolving global landscape.
Historical evidence demonstrates the resilience of cooperatives in balancing economic and social objectives during times of crisis he noted.
Cooperatives require a clear and inspiring vision for their members that adapts to meet emerging challenges according to the deputy minister.
This vision must remain dynamic with regular reviews to ensure alignment with the changing economic and social environment he stressed.
Effective governance represents another critical element for cooperative success with efficient and trustworthy management essential for protecting assets and wealth.
Clear communication between leadership and members ensures everyone understands the cooperative’s direction and works toward common goals Ramanan added.
Cooperatives actively support both the 13th Malaysia Plan and the MADANI Economic Agenda particularly in green economy digitalisation and food security sectors.
This moment presents an ideal opportunity for cooperatives to become drivers of inclusive sustainable and resilient economic development he concluded.
During a post-event press conference Ramanan revealed that Malaysia currently has 16,000 registered cooperatives with 2,000 identified as inactive.
Malaysian cooperatives lag behind their Indian counterparts which have achieved more advanced development levels he observed.
The Jom@Coop initiative by the Cooperative Institute of Malaysia engages the public particularly cooperative leaders and members through various platforms.
This programme facilitates understanding public needs knowledge sharing and direct community communication according to the deputy minister.
It also establishes a cooperation network between IKMa and ministry agencies aimed at improving public service delivery.
Over 5,500 participants attended Jom@Coop 2025 which featured forums knowledge-sharing sessions product exhibitions and cooperative success stories. – Bernama
