A small brick manufacturing operation near Yangon. Photo - EPA

Vice President U Henry Van Thio has urged cooperatives to participate more in manufacturing as they are a major driving force in the nation’s development.

“I urge more involvement and participation by cooperative societies in agriculture, livestock and manufacturing,” he said at an event marking International Cooperative Day in Nay Pyi Taw on Saturday.

Cooperatives started in Myanmar in 1905 with a savings and loan association in Myinmu township, Sagaing Region, that focused mainly on loans. But they branched out during the term of the previous government to include agriculture support.

He urged the associations to support farmers with their services. 

“Seed producing cooperatives and agricultural cooperatives are also urged to extend sales of farm implements to meet farmers’ needs and to assist in any way possible along the supply chain of value-added crop production,” he added.

Although cooperatives only provided financial services before, now they also sell agricultural machinery. “Cooperatives were able to provide 8470 tractors of less than 50 horsepower, including mini cultivators, 5541 tractors that have from 50 to 90 horsepower, and 500 harvesting machines,” said U Aung Thu, minister of Agriculture, Livestock and Irrigation. They also support agricultural mechanisation and the production of high-yield seeds, he added.

Cooperatives loaned K213.24 billion to members across the country. Myanmar’s over 40,000 cooperatives have more than 4.42 million members and say they have created jobs for more than 250,000 people. – Translated