Kuala lumpur: Cooperatives must embrace digitalisation, not only in financial matters but also in marketing their products and services, said Deputy Minister of Entrepreneur Development and Cooperatives Datuk Seri R. Ramanan. He emphasized that 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.
According to BERNAMA News Agency, Ramanan highlighted the cooperative business model as well-suited to drive these initiatives, given its prioritization of mutual benefit. Speaking at the closing ceremony of the Jom@Coop 2025 programme, he stated 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. He pointed out that history shows cooperatives are resilient, balancing both economic and social goals during crises.
Ramanan stressed the need for cooperatives to have a clear and inspiring vision for their members, one that evolves to meet new challenges. He stated that this vision must be dynamic and regularly reviewed to align with the changing landscape. Additionally, he highlighted the importance of good governance in cooperatives, noting that efficient and trustworthy management is essential to safeguarding their assets and wealth.
He underscored the necessity of clear communication between leadership and members to ensure everyone understands the cooperative's direction and works towards common goals. Furthermore, Ramanan noted that cooperatives support the 13th Malaysia Plan and play a key role in the MADANI Economic Agenda, which focuses on a green economy, digitalisation, and food security.
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. He acknowledged that Malaysia lags behind countries like India, where cooperatives are more advanced. Regarding Jom@Coop, he described it as an initiative by the Cooperative Institute of Malaysia (IKMa) to engage with the public, especially cooperative leaders and members.
He explained that the platform allows for understanding the needs of the people, sharing knowledge, and providing direct communication to the community. Ramanan added that the initiative also serves as a network of cooperation between IKMa and agencies under the Ministry of Entrepreneur Development and Cooperatives, 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.