STRATEGIC THRUST 1 :
STIMULATE PARTICIPATION OF CO-OPERATIVES IN HIGH VALUE ECONOMIC SECTORS
Changes in the local and international economic and political environment require the co-operative movement to move in tandem. Malaysia’s aspiration to become a high income developed nation is a challenge that should be championed by the co-operative movement. The f nancial services sector, which is the pulse of the co-operative movement of the country, should be strengthened to ensure a sound development of the co-operative movement. In addition, other major service sectors in the co-operative movement, namely the distributive trade, tourism, food production and plantation, need to be expanded.
The co-operatives will champion the government’s proposal to increase food production in order to meet the nation’s demand. In the agriculture sector, co-operatives will be involved in food production and livestock farming. Green technology will be applied in food production processes to further increase the participation of co-operatives in these activities at a higher level.
This initiative is driven by:
- Strategic alliances and business networking with third parties locally and internationally. Co-operatives will benefit in terms of capital, technology and market;
- Expansion of economic activities and increased value-add through value chain activities in related industries;
- Market expansion of co-operative products and services in the open market and not limited to members’ needs only, either locally or abroad by taking advantage of ICT facilities;
- Application of green technology elements in co-operative industries to ensure the well-being of the people and to generate new income; and
- Financial allocation to enable co-operatives to conduct research and development (R&D) in order to create new products and add value to existing products.
- 70% of co-operatives’ turnover contributed by the service sector
- Establishment of four co-operative banks by 2020
- Establishment of 50 new co-operative alliances
- 100 co-operative products and services able to compete in the open market
- Funding for research and development (R&D)
- 5 % of agriculture and livestock farming co-operatives to adopt green technology.