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Malaysian Minister of Entrepreneurship Development and Cooperatives Yowan Benedik revealed that 1,001 new cooperatives were established across the country last year, a significant increase from the 600 to 700 registered annually in previous years.
He said this reflected the importance society places on cooperatives and credited the cooperative awareness programme. He stressed the hope that the new cooperatives would contribute to the country’s economy through good governance and protection of members’ welfare.
During the Community Partnership Programme, he announced the launch of the Tamu Desa project to provide infrastructure for small businesses in rural areas of Sabah and Sarawak, and said it would be implemented through an allocation of RM20 million in the 2024 Budget.
He also announced an allocation of RM100,000 to support the construction of the Lundayeh Community Center Co-operative.
(Source: Bernama Image source: freepik)
