21-04-2025
- Business
- New Straits Times
Asean chairmanship a gateway for cooperatives to expand businesses
LANGKAWI: Malaysia's Asean chairmanship offers the country's 16,000 cooperative movements a chance to expand their businesses and boost economic benefits for members.
Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick urged local cooperatives to be proactive in exploring Southeast Asian markets.
"In addition to collaborating with major companies for multi-million-ringgit investments in Langkawi, cooperatives are encouraged to expand their operations across Southeast Asia in conjunction with the Asean chairmanship 2025.
"The window of opportunity is even wider with the ministry, in collaboration with the National Cooperative Movement of Malaysia, set to host the Asean Cooperative Dialogue 2025 next month," he told a press conference after launching the Langkawi Development Authority (Lada) COOP Invest Day 2025 at Aloft Langkawi here today.
Benedick said the forum would bring together cooperatives from across the Asean region to focus on strategic cooperation and potential investment opportunities in Malaysia and beyond.
He also highlighted Koperasi Sahabat Amanah Ikhtiar Malaysia's (KOOP Sahabat) recent memorandum of understanding with Marriott International to develop a hotel in Langkawi.
"The hotel will be built on a 0.64-hectare site in Pantai Chenang with an investment of RM200 million. It will house 280 rooms and operate under the Fairfield by Marriott brand.
"This project is expected to inspire other cooperatives to invest in the tourism sector or other viable industries," he said.
