More women’s cooperatives will be created with launch of TransKom

More women’s cooperatives will be created with launch of TransKom

KUALA LUMPUR: The launch of the Malaysian Cooperative Transformation Plan (TransKom) 2021-2025 is expected to create more women’s cooperatives which will contribute to the economic growth of the country.

Deputy Minister of Entrepreneur Development and Cooperatives Datuk Mas Ermieyati Samsudin said this will be a great challenge because currently, about 1.6 per cent or 200 of the 14,668 cooperatives in the country are run by women.

‘Although the cooperative movement has been in Malaysia for almost 100 years, the total membership of women’s cooperatives is only 18,750, contributing RM5.6 million out of billions in annual revenue to the Malaysian economy,“ she said when appearing as a guest on Bernama TV’s Ruang Bicara talk show here, last night.

As such, she said, a women’s cooperative and entrepreneurship committee has been set up under the ministry to look into constraints and work towards the mission.

TransKom, is a five-year plan that outlines comprehensive strategic goals and measures to ensure that the cooperative movement can provide greater and more comprehensive benefits for the well-being of members and the community.

It is also aimed to ensure the cooperatives’ competitiveness and sustainable development.

Mas Ermieyati said her mission is to transform traditional business models in line with the latest technology, adding that, to get ideas she would be looking at cooperatives in other countries such as in Japan and the United Kingdom.

Prime Minister Tan Sri Muhyiddin Yassin is expected to officiate the launch of TransKom on March 30. -Bernama