SENATOR VILLAR BACKS REVISED COOPERATIVE CODE, CITES ROLE OF COOPS IN POVERTY REDUCTION

Pasay City — Senator Mark Villar expressed his support for Senate Bill No. 1431, or the proposed Revised Cooperative Code of the Philippines, saying the measure will strengthen cooperatives as instruments of social justice, livelihood generation, and economic development.

Citing data from the Cooperative Development Authority, Villar noted that the country had more than 20,000 registered cooperatives employing around 335,100 workers as of 2024, underscoring the sector’s significant contribution to the Philippine economy.

“Malaki ang papel ng mga kooperatiba sa paglikha ng kabuhayan, trabaho, at oportunidad para sa ating mga kababayan,” Villar said.

He emphasized that cooperatives play an important role in improving the livelihoods of farmers, fisherfolk, rural workers, and other sectors by providing financial, technical, and educational support. Through these efforts, cooperatives contribute to poverty reduction, job creation, and greater economic participation.

Villar said the existing Cooperative Code, enacted in 2008, must be updated to respond to the growing complexities and evolving needs of the cooperative sector.

“Thus, they need to enact a revision that introduces much needed reforms to its regulatory framework,” Villar said.

Under Senate Bill No. 1431, the registration of cooperatives would be streamlined through reduced processing times and capital requirements, particularly for agricultural cooperatives. The measure would also expand the capital base of cooperatives by allowing foreign investments, subject to safeguards ensuring Filipino control and management.

Villar said these reforms would help make cooperatives more inclusive, flexible, and viable, allowing them to expand their operations and serve more members and communities.

“Mr. President, ang pagpapalakas at pag-supporta sa paglago ng mga cooperativa sa bansa, isa sa importanting hakbang para ma-empower natin ang ating mga magsasaka, magingisda, guro, at iba pang sektor upang mas mapabuti pa ang lokal na ekonomiya sa ating mga komunidad,” he added.

Meanwhile, Majority Leader Miguel Zubiri also recognized the initiatives of the Villar Foundation in supporting cooperatives and community enterprises that contribute to poverty reduction.

Through the Villar Foundation Awards for Poverty Reduction, outstanding cooperatives and community enterprises from various parts of the country are recognized for initiatives that create livelihoods, generate income, and help improve the economic conditions of their communities. The program also provides financial assistance to awardees to help sustain or expand their enterprises.

Villar said the Foundation’s continuing support for cooperatives reflects the broader role these organizations can play in creating sustainable livelihood opportunities and strengthening local economies.

“Ang pagpapalakas ng mga kooperatiba ay hindi lamang tungkol sa pagpapalago ng isang organisasyon. Ito ay tungkol sa pagbibigay ng mas maraming oportunidad sa ating mga kababayan upang magkaroon ng mas matatag na kabuhayan at maging mas aktibong bahagi ng ating lokal na ekonomiya,” Villar concluded.