JAKARTA, November 11, 2024 — Indonesia’s Cooperatives Minister Budi Arie Setiadi is looking to ramp up public participation in cooperatives and is eyeing to increase the number of cooperatives’ members to 60 million from the current figure of around 25mln, according to local news channels.
“With Indonesia’s population, which almost reaches 300mln, those who are members of cooperatives are less than 10 percent,” he was quoted as saying on Friday.
Setiadi said cooperatives have supported the economy in developed countries, such as the United States and Japan, where the number of cooperatives’ members has reached over 50 percent of the population.
He noted that the greater the number of members, the potential for cooperatives to develop their businesses will also be higher.
He acknowledged that the development of cooperatives in Indonesia in recent years had tended to stagnate and even experienced a decline due to several cases of mismanagement.
To tackle this problem, Setiadi is committed to making comprehensive efforts to improve the cooperative sector.
The minister said one of the indicators of good performance of a cooperative is the number of members, adding that cooperatives with a big status but low number of members should be evaluated further.
As a form of commitment to revitalising cooperatives, he initiated a monthly meeting with cooperatives’ stakeholders to discuss obstacles faced by cooperatives and seek solutions.
He also emphasised the importance of passing the Cooperatives Bill as law soon. This especially holds significance as Law Number 25 of 1992 on Cooperatives is considered to no longer be relevant, especially in the context of digitalisation. “The new cooperatives law must be completed in 100 days of office,” he emphasised.
Source: Antara
https://thecooperator.news/oikocredit-announces-eur-2-4mln-loan-to-support-smes-in-indonesia/
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