Video: Proof of the Cooperatives Ministry's Seriousness in Upgrading 130,000 Cooperatives

The Indonesian Cooperatives Minister, Ferry Juliantono, has affirmed the Prabowo administration’s commitment to promoting cooperatives as an engine of the national economy. The Ministry of Cooperatives continues to encourage cooperatives to move quickly in optimising their economic role. This effort is being carried out through rebranding cooperatives to appeal to all levels of society, including Gen Z and Millennials. In addition, governance is being improved through digitalisation and legal reforms via the Cooperatives Law to make it more adaptive in addressing various challenges. On the other hand, the business scope of cooperatives is being expanded to include the mining and minerals sector as well as plantations and the environment. This is expected to increase the role of cooperatives in the GDP, which currently stands at only 1%. However, challenges remain regarding pessimism about the potential for developing modern, contemporary cooperatives and increasing the role of the younger generation. From around 130,000 cooperatives in Indonesia, the Ministry of Cooperatives is strengthening its database to explore the business potential of cooperatives in the regions so that they are not solely in the credit sector, enabling them to upgrade. The Ministry of Cooperatives, in pushing for cooperative development including the Village/Sub-district Cooperatives, has proposed an additional budget of IDR 1.34 trillion.