Modernization of Cooperatives: Govt. Introduces Multi-Party Cooperatives Model

In an attempt to encourage the development of modern cooperatives, the Indonesian Government is aiming to implement a multi-party model for cooperatives. The implementation of this model is expected to increase access to capital, information and skills and will hopefully encourage more openness to innovation and flexibility in relation to global economic developments and needs. Against this backdrop, the Minister of Cooperatives and Small- and Medium-Scale Enterprises (“Minister”) has issued Regulation No. 8 of 2021 (“Regulation 8/2021”), which contains a set of guidelines that specifically address the implementation of multi-party cooperatives.[1]