MELAKA, Sept 5 — Entrepreneur and Cooperative Development Minister Datuk Ewon Benedick said approximately 21 per cent, or 7.22 million, of Malaysians participated in the 15,809 cooperatives nationwide last year.
This reflects the trust that the public places in the cooperative movement.
“The cooperative movement's contributions are substantial, with share capital and fees totalling RM17.45 billion, and assets reaching RM165.9 billion.
“Additionally, the sector's revenue contribution stands at RM64.56 billion, underscoring its significant role in driving the country’s economic growth,” he said.
Ewon was speaking at the 2024 Cooperative Movement Appreciation Ceremony, officiated by Melaka Chief Minister Datuk Seri Ab Rauf Yusoh last night.
He noted that the cooperative movement remains a crucial driver of the country’s economic growth, by adapting to community needs and technological advancements.
In Melaka, the cooperative sector is a key player in poverty alleviation, and in supporting the state's goal of achieving sustainable status by 2035.
With 487 cooperatives, serving approximately 178,000 members, and generating a turnover of RM156 million, Melaka's cooperative sector demonstrates significant potential.
“Melaka, with its rich history, culture, and artistic heritage, stands as a major tourism hub.
“With the high arrival of tourists throughout the year and in conjunction with Visit Melaka Year 2024, it provides a great opportunity for cooperatives to offer the best products and services to tourists,” Ewon said.
— Bernama
