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

The Indonesian Minister of Cooperatives, Ferry Juliantono, has reaffirmed the commitment of President Prabowo’s administration to driving cooperatives as a primary engine of the national economy.

The Ministry of Cooperatives continues to encourage cooperative business entities to move swiftly in optimising their economic roles. This step is being implemented through a rebranding of cooperatives to all layers of society, including Gen Z and Millennials. Furthermore, the ministry is focusing on improving governance through digitalisation and enhancing the legal framework via the Cooperatives Law to ensure greater adaptability in facing various challenges.

On the other hand, the business scope of cooperatives is being expanded to include the mining and mineral sectors, as well as plantations and environmental management. This expansion is expected to increase the role of cooperatives in the GDP, which currently stands at only 1%.

However, challenges remain regarding the pessimism surrounding the potential for developing modern, contemporary cooperatives and increasing the involvement of the younger generation.

Out of approximately 130,000 cooperatives in Indonesia, the Ministry of Cooperatives is strengthening its database to explore the business potential of cooperatives in various regions, ensuring they move beyond just the credit sector to achieve a higher class of operation.

In its efforts to drive cooperative development, including the ‘Merah Putih’ Village/Sub-district Cooperatives, the Ministry of Cooperatives has requested an additional budget of Rp 1.34 trillion.