Angkasa calls on youth organisations to set up cooperatives

Last update: 07/02/2020

KUCHING, Feb 6 -- National cooperative movement Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA) has called on youth organisations throughout Malaysia to set up cooperatives to encourage youth participation in the cooperative sector.

Its president Datuk Abdul Fattah Abdullah said this was in response to the call made by Prime Minister Tun Dr Mahathir Mohamad in turning Malaysia into an entrepreneurial nation by 2030.

"We will work with the Malaysian Youth Council, the State Youth Councils, and Saberkas in Sarawak to find suitable ways to encourage them to be involved in cooperative businesses," he told a press conference at the close of the 2020 Global Youth Forum Co-operative Entrepreneurship (GYF20) programme today.

Meanwhile Cooperative Commission of Malaysia (SKM) executive chairman Datuk Nordin Salleh said the promotion of cooperatives could be considered as one of the pillars of national economic and social development.

"In fact cooperative societies are closely related to social economic development and this is becoming more evident as last year the cooperative sector recorded a turnover of RM40.3 billion," he said.

ANGKASA as the apex organisation for cooperatives in Malaysia is recognised by the government to represent the cooperative movement nationally and internationally.

As at June 2019, ANGKASA oversees some 14,400 cooperatives nationwide with membership of about 6.1 million people.

Over 250 young people from 109 countries participated in the five-day GYF20 forum which commenced last Saturday.