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Brunei's cooperatives generated $38 million last year, contributing to employment and economic diversification. However, challenges such as inefficient management and a lack of youth engagement hinder growth. The government aims to address these issues by promoting youth involvement and enhancing business skills through a proposed Cooperative Code of Conduct.

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The Scoop Article

Published on 11th March 2018

Brunei's cooperatives, with a combined earnings of $38 million last year, are poised to play a significant role in diversifying the economy and boosting employment. However, challenges such as inefficient management, lack of commitment from members, and minimal youth interest need addressing. With only 60 out of 161 co...

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Brunei's cooperatives, with a combined earnings of $38 million last year, are poised to play a significant role in diversifying the economy and boosting employment. However, challenges such as inefficient management, lack of commitment from members, and minimal youth interest need addressing. With only 60 out of 161 cooperatives active, improvements are essential. Government strategies include encouraging youth involvement, enhancing business skills, and exploring sectors with export potential. Plans also include releasing a Cooperative Code of Conduct for better management and transparency. Notably, cooperatives contribute significantly to global economies, generating $3 trillion in revenue annually.

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Providing insight and context to what's happening in Brunei and beyond 🇧🇳🔎🌍

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