Through the momentum, the government initiated a movement, which aims to increase (public) literacy on cooperatives and attract the younger generations to join cooperatives.
Jakarta (ANTARA) - The Cooperatives and Small and Medium Enterprises (SMEs) Ministry said it will use the momentum of the 75th Cooperatives Day to change the image of cooperatives from old-fashioned and conventional to more modern and professional.

"Through the momentum, the government initiated a movement, which aims to increase (public) literacy on cooperatives and attract the younger generations to join cooperatives," Cooperatives and SMEs Minister Teten Masduki said, according to a post on the ministry’s social media account, @kemenkopukm, here on Tuesday.

Cooperatives Day is celebrated every July 12. This year’s commemoration was themed “Transformation of Cooperatives for a Sustainable Economy.”

The ministry is also encouraging cooperatives to innovate and build high business sensitivity, get on par with other business entities, and become preferred among youngsters.

As agents of development, the youth must be provided business knowledge and character-building training, based on the value of mutual cooperation and joint collaboration, which are implemented by cooperatives, the minister said.

Currently, the government is preparing a regulation to assist the cooperatives in creating a dynamic, adaptive, and accommodating business ecosystem to serve the interests of the members of the cooperatives as well as the community.

"Preparing the regulation in lieu of Law Number 25 of 1992 on Cooperatives is a priority to strengthen the development of the cooperative ecosystem through alternative policy, which provides opportunities for cooperatives to operate in various business sectors and grow bigger," Masduki said.

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The ministry updated the regulations on cooperatives by issuing the Cooperatives and SMEs Minister’s Regulation Number 8 of 2021 concerning Cooperatives with a Multi-Party Model, or group-based cooperatives.

The implementation of multi-stakeholder cooperatives is mainly targeted at start-ups, professional business players, and the younger generation.

Currently, the real sector is the focus of cooperative empowerment since it has high growth coefficient and great value-added potential, Masduki said.

“It is also in line with the program included in the Presidential Regulation Number 18 of 2020 regarding the 2020–2024 National Mid-Term Development Plan," he added.

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Translator: Baqir Alatas, Uyu Liman
Editor: Rahmad Nasution
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