Kota Kinabalu: Chief Minister Datuk Seri Hajiji Noor is confident the cooperative movement in Sabah – which has 1,707 registered cooperatives and more than 350,000 members under the Malaysian Cooperative Commission (SKM) – can help eradicate extreme poverty in the State.
“I am proud that Sabah has the second highest number of registered cooperatives in the country after Selangor with a total income of RM570 million.
“This proves that the cooperative movement in Sabah has successfully played its role and contributed significantly as one of the agents of socioeconomic growth that has the potential to end extreme poverty,” he said at the National Cooperative Day held at the Sabah International Convention Centre, Saturday.
He is even more proud that four – Koperasi Pembangunan Usahasama Masyarakat Maju Sabah Berhad, Koperasi Kakitangan Sawit Kinabalu Sabah Berhad, Koperasi Borneo Malaysia Berhad and Koperasi Usahawan Tawau Berhad – were listed in Malaysia’s Top 100 Cooperative Index last year.
SPONSORED CONTENT A&W poised for rapid growth in Sabah Kota Kinabalu: A&W is geared to become the leading Quick Service Restaurant (QSR) chain in Sabah, with its strong re-entry into Sabah with the opening of the first outlet in Inanam in November 2022. Read more “Well done and congratulations to all the cooperatives in Sabah. I would like to see more cooperatives from Sabah listed in Malaysia’s Top 100 Cooperatives Index in the coming year,” he said, adding he believes this number can be improved when awareness and interest in joining cooperatives becomes a way of life that contributes to the nation’s socio-economic prosperity.
“This is because the cooperative vehicle is an effective approach not only in stimulating the development of the entrepreneurial sector, but also play a major role in helping the B40 group deal with the challenge of the increasing cost of living,” he said.
“The government’s determination and commitment is to facilitate and not to frustrate, to help provide policies that are friendly to cooperatives so that the cooperative movement in particular in this State is viable and competitive,” he said.
In line with Sabah Maju Jaya’s Future Development Plan which focuses on three main cores namely Agriculture, Industry and Tourism, the State Government hopes the cooperative movement in the State would be able to take advantage of the initiatives and financial incentives provided to advance the cooperative business sector it is engaged in, he said.
“Similarly in terms of funding assistance and cooperative capital development funds, I was recently informed that the Entrepreneur Development and Cooperative Ministry through the SKM has approved financing assistance from the SKM Year 2023 Revolving Capital Fund to two cooperatives in the Sabah with a total fund of RM25.9 million in the form of the purchase of 1,500 acres of oil palm land assets and also retail business premises.
“In addition, SKM has also approved assistance to two cooperatives through a financing programme known as the e-Fast Programme in the form of business development grants to productive cooperatives to strengthen their businesses,” he said.
Hajiji said the role of cooperatives is to complement and work hand in hand with the government and the private sector in filling the untapped business opportunities that exist in developing the State specifically.
“Thus, I want all cooperative movements in Sabah to continue to empower themselves, increase competitiveness and seize the economic opportunities available.
“In Sabah we have many types of cooperatives that develop the community’s socio-economics, whether related to retail or tourism activities and environmental sustainability. This State is rich in natural and socio-cultural resources that can attract many tourists to visit either from within or outside the country,” he said.
According to him, the re-opening of the country’s border gates has had a positive impact and encouraged the recovery of the tourism sector where Sabah recorded 1.73 million tourist arrivals last year and this year it is expected to be 2.2 million people with the ability to generate income of RM4.1 billion.
He urged cooperatives in Sabah to take advantage of the boom in the tourism industry, which is creating various downstream business opportunities such as accommodation, homestay, transportation, restaurants, parks, and souvenir shops.
The Chief Minister also welcomed the participation of 186 youth from 19 Asia Pacific countries to the Asia Pacific Cooperative Youth Summit in Sabah which was held for the first time in Malaysia from July 27 to 30 this year.
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