Coordinating Minister Airlangga: A Sustainable Cooperative Is The One Who Masters The Market

Coordinating Minister for Economic Affairs Airlangga Hartarto. (Photo: Doc. Antara)

JAKARTA - Coordinating Minister for Economic Affairs of the Republic of Indonesia Airlangga Hartarto said the surviving cooperatives were cooperatives that controlled the market share.

This was conveyed by Airlangga while attending the 77th National Cooperative Day (Harkopnas) which was held in Batam City, Riau Islands, Friday, July 12.

"The key is that cooperatives that survive are cooperatives that control the market or market share. So don't forget the competitiveness. Cooperatives always have high competitiveness, I'm sure whatever the type of business is and whatever the composition is," said Airlangga in his speech, quoted from Antara.

He conveyed that cooperatives must also be involved in the development of digitalization, in order to increase and encourage Indonesia's economic resilience.

According to him, by commemorating the 77th Harkopnas, it is hoped that all cooperatives in Indonesia can become one of the pillars in the revival of a community-based economy.

"This is a good event and shows a cooperative that has been around for 77 years and I ask that cooperatives also involve new technology, namely digitization so that cooperatives have future economic resilience," he said.

Previously, Minister of Cooperatives and SMEs Teten Masduki said that cooperatives have been part of the people's business ecosystem so that they can grow from small to medium enterprises and are connected to the supply chain of the national industry.

This was conveyed by Teten commemorating 77th Cooperative Day with the theme Cooperative As An Ecosystem for Consolidation, Acceleration and Escalation of Micro and Small Economy which was commemorated on July 12.

Teten, in a written statement on Friday, said that cooperatives have become the most widely accessed micro-financing solution by households in Indonesia by 4.25 percent after commercial banks other than the people's business credit KUR (4.95 percent).

"In fact, in the agricultural and rural sectors, cooperatives have become the main financial institutions in fulfilling business financing," he said.