KUALA LUMPUR, March 30 — A comprehensive transformation needs to be done on cooperative movement in the country to empower and strengthen its roles so as to achieve sustainability in facing the challenges of the 21st century in line with the digitalisation era.

As such, Prime Minister Tan Sri Muhyiddin Yassin said the move taken by the Ministry of Entrepreneurs Development and Cooperatives to develop the Malaysian Cooperatives Transformation Plan (TransKoM) 2021-2025 was apt to be the axis of transformation to the cooperative movement.

"I’m confident that the plan will be the catalyst for the development of a more progressive and competitive cooperative movement.

"It will inadvertently ensure the survival of the country’s cooperative sector as the biggest contributor to the improvement of socio-economy and wellbeing of the people,” he said at the launch of TransKoM 2021-2025 here today.

Also present was Minister of Entrepreneurs Development and Cooperatives Datuk Seri Wan Junaidi Tuanku Jaafar.

The plan outlines five thrusts, namely the inculcation of shared prosperity values, strengthening the legislative system and governance structure, development of talents and human capital, creation of a sustainable business environment, and the empowerment of cooperative governing body and delivery system.

Muhyiddin said the plan also lined up 20 strategic steps and 36 programmes and activities to steer the development of a more progressive and competitive cooperative movement.

As such, he called on all quarters involved in cooperative development, especially the Cooperative Commission of Malaysia, Cooperative Institute of Malaysia, Angkasa and the cooperative movement to give their cooperation and undivided commitment to the ministry in implementing the transformation plan.

"I want all 14,668 active cooperatives registered with the Cooperative Commission of Malaysia to work together to boost the country’s economic growth.

"The inactive and dormant ones, on the other hand, must bounce back to become part of the transformation agents for national cooperative movement,” he said. — Bernama