Indonesian Minister of Cooperatives, Ferry Juliantono, has called on the country's major cooperatives to take bold steps towards expanding their activities in strategic economic sectors, as part of efforts to enhance national economic sovereignty. This statement was made during the annual general meeting of cooperatives in Surabaya, where the minister emphasized the importance of seizing this historic moment in economic transformation.
Juliantono pointed out that cooperatives should not be limited to providing lending services or small-scale activities, but should explore new areas such as energy, food security, and infrastructure. He stressed the need for these cooperatives to be part of the economic solutions that contribute to achieving sustainable development.
Event Details
During the meeting, the minister noted that cooperatives like Koperasi Pelabuhan Indonesia (Kopelindo) have the potential to expand their operations in the global supply chain. Recent figures have shown that Kopelindo's assets increased from 712 billion rupiah to 788 billion rupiah, while its revenues rose from 262 billion rupiah to 270 billion rupiah, reflecting its success in achieving growth.
Juliantono confirmed that the government will provide necessary support by improving laws and regulations to facilitate cooperatives' entry into capital-intensive sectors, enabling them to compete better with private companies and government institutions.
Background & Context
Historically, cooperatives have played an important role in the Indonesian economy, contributing to local development and job creation. However, global economic challenges require these cooperatives to adapt to rapid market changes. In recent years, Indonesia has witnessed significant economic transformation, making it essential for cooperatives to play a larger role in this context.
Cooperatives are part of the Indonesian government's strategy to enhance the national economy, aiming to achieve economic independence by supporting local projects. Global experiences have shown that cooperatives can be a major driver of sustainable economic growth.
Impact & Consequences
Expanding cooperatives into strategic sectors can contribute to enhancing economic stability in Indonesia. By entering fields such as renewable energy and food security, cooperatives can play a vital role in achieving sustainable development. This approach may also help create new job opportunities and improve the living standards of the population.
Furthermore, strengthening cooperatives in these sectors can help reduce reliance on imports, enhancing Indonesia's ability to face global economic crises. This will also contribute to fostering innovation and technology in vital sectors.
Regional Significance
The Indonesian experience in enhancing cooperatives serves as a model that Arab countries can benefit from. Many Arab nations face similar economic challenges, and cooperatives can play an important role in promoting sustainable development and achieving food security. By strengthening cooperatives, Arab countries can contribute to achieving economic and social stability.
In conclusion, the call from the Indonesian Minister of Cooperatives represents an important step towards enhancing the role of cooperatives in the national economy. Expanding activities into strategic sectors can contribute to achieving sustainable development and enhancing economic sovereignty, making it an experience worth studying and applying in other regions.