TACLOBAN CITY-Cooperatives all over the region gained traction and helped in fueling local economy to make a dent in the efforts of bringing more jobs, encouraging enterprise and even wealth distribution.
In the recent Kapihan sa Bagong Pilipinas in Tacloban City, Cooperative Development Authority Assistant Regional Director Maripaz Del Pilar said there are a total of 1,349 registered cooperatives in the region and covers areas such as financing, employees’ cooperative, enterprise, agriculture, among others.
Del Pilar said the profits generated by these cooperatives are often reinvested in the cooperative itself or distributed among members, who in turn spend or invest these funds in the local economy, helping drive local growth.
CDA also pointed out that a number of cooperatives have also diversified their investments into transportation, hotels, and other tourism enterprise which add stir to the local economy.
The region also has three operating billionaire cooperatives which are the Perpetual Help Credit Cooperative Inc. in Tacloban City, Southern Leyte Employees Multipurpose Cooperative in Southern Leyte, and the Allen Municipal Officials, Employees and Communities Multipurpose Cooperative in Northern Samar.
Billionaire cooperatives are those that have already exceeded the micro (P3 million and below), small (P3,000,001 to PhP15 million), medium (P15,000,001 to P100 million), and large (more than P100 million) categories.
Cooperatives in the agricultural sector comprise the most number of registered cooperative in the region. Coops involved in the production, processing and packaging of local products such as tuba, banana chips, cassava chips and other products, have even leveled up its competitiveness and viability to be at par with other producers in the local markets.
“We are providing our cooperatives with capacity building and training skills so they can exist longer and grow,” Del Pilar said.
The CDA is mandated by law to promote the viability and growth of cooperatives as instruments of equity, social justice and sustainable economic development.
The advancement of cooperatives in the Philippines has been the leading advantage of the government as it can arise success in both urban and rural locations. A good factor of cooperatives is that they are connected with the community and have reciprocally benefited relationships with employees and its members.
(ACR, PIA Eastern Visayas)
