Thursday, October 11, 2012

Prepare For Open Economy, Ismail Sabri Urges Co-ops

KOTA KINABALU, Oct 9 (Bernama) -- Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob has urged cooperatives to prepare themselves for the coming open economy.

Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=700725
Published: October 10, 2012

As a small country that depends on other countries for its people's needs, Malaysia needs to practise an open economy in future, he said.

"That is why the government implements several transformation programmes to prepare cooperatives to be internationally competitive," he said, adding the government does not want small retailers to die off because they cannot compete with foreign hypermarkets.

He made the remarks when opening the Banyak Untung Segar TUKAR (Small Retailer Transformation Programme) store owned by Koperasi Pembangunan Usahasama Masyarakat Maju Sabah Bhd (Kop-Pusamaju) here today.

Ismail Sabri said the TUKAR scheme is one of the Entry Point Projects under the Economic Transformation Programme aimed at modernising traditional sundry shops to enhance their competitiveness.

Meanwhile, Kop-Pusamaju Chairman Zairenah @ Irene Siyu said the store is one of seven TUKAR shops operating in Sabah, with 13 more on the way.

-- BERNAMA

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