Cooperatives must diversify activities, boost socio-economy, says Wan Junaidi

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KUALA LUMPUR (Bernama): The cooperative sector in Malaysia, which will be a century-old next year, needs to expand its wings in various sectors of the economy, including company shareholding and construction.

Entrepreneur and Cooperative Development Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar, appearing on Bernama TV’s ‘Ruang Bicara’ programme on Friday night , said the sector needed to diversify its activities apart from services such as tourism and credit loans.

"In the current scenario, the cooperative sector is too focused on the service sector such as tourism, hotels and homestays, causing most of the cooperatives to be affected by the implementation of movement restrictions due to the Covid-19 pandemic," he said.

 

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