Image credit: The Sun Daily
KUALA LUMPUR: The Malaysia Cooperative Policy (Dakom) 2030 highlights strategic direction for the development of cooperatives, aiming to enhance economic performance and the social well-being of its members.
The framework of Dakom 2030 will chart the direction of the cooperative movement until 2030 through four core policies and 20 strategies as catalysts.
"It aims towards achieving a target of RM60 billion in 2025 and RM73 billion in 2030," said Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick, at the launch here today.
Benedick said that there are three main objectives to be achieved through this new policy that will make this sector a primary driver of Malaysia's socio-economic growth.
"It aims to make the cooperative sector a significant contributor to Malaysia's economic growth and to establish capable and strong cooperatives that are accepted by Malaysians.
"DaKoM 2030 also aims to position cooperatives as a preferred business model in driving Malaysia's socio-economic development," Benedick said.
He added that the four pillars of the policy include transforming cooperative support; increase understanding and appreciation of cooperative principles; increase the capacity and capability of cooperatives and; promote the cooperative sector as the main socio economic development vehicle
He urged the entire cooperative movement to unite, synergise and adhere to the cooperative principles that have been the foundation and pillar of its existence for over a century in the nation.
"Cooperatives serve as a platform to cultivate concern and care for the needs and requirements of the community.
"It also serves the community to augment their sources of income and confront the increasingly challenging economic conditions."
Benedick hopes that efforts to popularise cooperatives will be intensified so that it can be considered a preferred business model for conducting socio-economic activities and assisting the government in its efforts to eradicate poverty.
In the same event, Benedick announced the profiles of the Top 100 Cooperatives in Malaysia for 2023 and presented awards to the top 10 cooperatives.
The prizes include trophies, plaques, and a total cash prize of RM 15,000 for the first to third places, and RM 10,000 for the fourth to tenth places.
Source: https://www.nst.com.my/news/nation/2023/10/966147/dakoms-core-policies-20-strategies-catalysts-nations-cooperative-movement