Cooperatives Projected as Indonesia's Primary Economic Drivers by 2026
Indonesian cooperatives are undergoing a major shift to become the nation’s leading economic drivers by 2026, according to a statement by Deputy for Cooperative Supervision at the Ministry of Cooperatives official Herbert Siagian during the Business & Legal Outlook forum, a platform for dialogue regarding global economic conditions, on Monday, 16 February 2025.
This ambitious vision relies on a combination of fresh business approaches and direct government intervention to ensure that cooperative members can compete effectively against global players. By focusing on strengthening the internal capacity of business actors now, the government expects cooperatives to emerge as “game changers” that will stabilise the domestic economy and foster sustainable development across all sectors.
Herbert explained that in response to uncertain global economic pressures, geopolitical shifts, and accelerating technological transformation, business actors are constantly required to reorganise their implemented business strategies. He emphasised that sticking to a single approach is no longer viable in the current volatile climate.
“To overcome these many changes, business actors cannot just be stuck with one strategy. We must be able to perform several styles to survive in current conditions,” said Herbert in Jakarta on Monday.
He further noted that in 2026 and beyond, the cooperative, a long-standing player, will re-emerge as a significant force. He expressed his belief that with the full support of the current government, cooperatives will possess a new strategy with the potential to become a “game changer” in the Indonesian economy.
In the midst of these global pressures, business actors are being pushed to reassess their business models and technological readiness. ET-Asia, as a leading HR development partner in Asia, collaborated with the Jakarta branch of the Indonesian Young Entrepreneurs Association (HIPMI) Jaya, Legal Next, Bilad Elkomindo Multimedia, and Delapan Capital to create the Business & Legal Outlook forum held in South Jakarta.
The event brought together regulators, corporate leaders, bankers, economists, and law firm partners to discuss policy directions and business strategies for 2026. ET-Asia Operations Director Deasy Widiantie explained that the forum was born from the need to provide a deep and relevant dialogue space for decision-makers.
She mentioned that amidst rapid global changes, the Indonesian business world needs a moment to pause, read the direction, and arrange steps in a more measured way. “We present this forum not only as a discussion, but as a space for reflection and a constructive exchange of perspectives,” she remarked.
Deasy added that in such situations, business actors need more than just optimism; they require measured strategies and cross-sector perspectives. “Business and Legal Outlook 2026 is presented as a strategic dialogue space to help business actors read risks, seize opportunities, and make decisions with more confidence,” she explained.
Radian Syam, Founder and CEO of Radian Syam & Syam Law Firm, assessed that the current government has built a strong governance system to boost the national economy. Quoting the founding father Bung Hatta, he noted that the rise or fall of a country depends heavily on its own people.
“Today we can see the government’s commitment to building a strong governance system. The rise and fall of a nation depends heavily on the nation itself,” said Radian.
The forum also highlighted 2026 challenges such as US economic dynamics, interest rate volatility, and MSCI issues affecting capital markets. The digital era and artificial intelligence readiness were also primary focuses of the discussion, particularly regarding regulatory readiness and organisational capacity. Experts noted that while AI opens new doors, it also demands higher levels of governance and compliance.
“The development of technology, especially AI, not only opens new opportunities, but also demands more mature governance readiness and compliance from business actors,” said Joddy Mulyasetya P., Managing Partner of Legal Next Attorneys at Law.