MANILA, Philippines — Senator Mark Villar expressed strong support for updating the country’s legal framework on cooperatives, emphasizing that modernized regulations are essential to expand employment, livelihoods, and broader economic opportunities nationwide.
Villar endorsed Senate Bill No. 1431, officially known as the proposed Revised Cooperative Code of the Philippines, which aims to introduce policy reforms to overhaul how cooperatives are regulated.
“Thus, they need to enact a revision that introduces much needed reforms to its regulatory framework,” Villar said.
Citing data from the Cooperative Development Authority, Villar noted that over 20,000 registered cooperatives were operating across the Philippines as of 2024, providing employment to roughly 335,100 workers.
“Malaki ang papel ng mga kooperatiba sa paglikha ng kabuhayan, trabaho, at oportunidad para sa ating mga kababayan,” Villar said.
The senator highlighted that cooperatives serve as vital lifelines for farmers, fisherfolk, rural labor groups, and other key sectors by offering financial support, educational programs, and technical expertise.
He pointed out that the current Cooperative Code, passed in 2008, must be updated to address modern operational complexities and evolving economic demands.
Key provisions under SB 1431 include streamlining the registration process by shortening processing windows and lowering capital requirements, particularly for agriculture-based groups. Additionally, the measure opens doors for foreign investments in local cooperatives, backed by strict legal safeguards to guarantee that Filipino members retain controlling ownership and management.
“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.
In support of the measure, Senate Majority Leader Juan Miguel “Migz” Zubiri recognized the ongoing efforts of the Villar Foundation in championing community enterprises and cooperatives.
Through its Villar Foundation Awards for Poverty Reduction, the organization honors and provides financial aid to high-performing cooperatives that drive local income generation and job creation.
Villar stressed that public and private support for cooperatives serves a purpose beyond organizational growth.
“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 said.