KOTA KINABALU: Hardcore poverty in Sabah can be eliminated through cooperatives that are available in the state, says Chief Minister Datuk Seri Hajiji Noor.
He said Sabah had 1,707 cooperatives under the Malaysian Cooperative Commission (SKM) which is the second highest number in the country.
Four of them, namely Koperasi Pembangunan Usahasama Masyarakat Maju Sabah Berhad, Koperasi Kakitangan Sawit Kinabalu Sabah Berhad, Koperasi Borneo Malaysia Berhad and Koperasi Usahawan Tawau Berhad have been listed in the 100 Best Malaysia Cooperative Index last year.
"This proves that the cooperatives in Sabah have successfully played their role and contributed significantly as one of the socio-economic growth agents with the potential to end hardcore poverty.
"Well done and congratulations to all the cooperatives in Sabah. I want to see more from the state to be listed in the years to come," he said at the National Cooperative Day held at the Sabah International Convention Centre (SICC) here today.
Hajiji added that the awareness and interest in joining a cooperative had become a way of life in contributing to the country's socio-economic prosperity.
"This is because the cooperative platform is an effective approach not just in stimulating entrepreneurship but also in assisting the B40 group in facing the increasing cost of living," he said.
"It is also the government's commitment to facilitate cooperative-friendly policies so that the cooperatives, particularly in this state, are viable and competitive," he said.
In line with the Hala Tuju Sabah Maju Jaya Development Plan's (SMJ) three main thrusts – Agriculture, Industry and Tourism, Hajiji said the State Government hopes cooperatives in Sabah can take advantage of the initiatives and incentives to advance the cooperative sector.
"Similarly, in terms of funding capital for cooperative development, I was informed recently that the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) through the Malaysian Cooperative Commission (SKM) has approved RM25.9 million financing assistance through the SKM Year 2023 Revolving Capital Fund (TMPSKM) to two cooperatives in Sabah for the purchase of 1,500 acres of oil palm land assets and retail business premises.
"SKM has also approved business development grants to two cooperatives through the eFAST programme. The grant is for productive cooperatives to strengthen their businesses.
"Therefore, I want all cooperative movements in Sabah to continue to empower themselves, increase competitiveness and seize the economic opportunities available."
He also urged cooperatives in Sabah to take advantage of the boom in tourism with its various downstream business opportunities such as accommodation, homestay, transportation, restaurants, parks, and souvenir shops.