Mark Villar backs Revised Cooperative Code bill

MANILA, Philippines — Sen. Mark Villar expressed his support on Monday for Senate Bill No. 1431, or the proposed Revised Cooperative Code of the Philippines, which aims to strengthen cooperatives as instruments of social justice, livelihood generation, and economic development.

Cooperatives have been making significant contributions to the economy, Villar explained in a statement, citing data from the Cooperative Development Authority, showing that the country has more than 20,000 registered cooperatives employing around 335,100 workers as of 2024.

He stressed that cooperatives help improve the livelihoods of farmers, fisherfolk, rural workers, and other sectors by providing financial, technical, and educational support — thus helping reduce poverty, create jobs, and stimulate more economic participation.

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READ: Senate passes revised cooperative code, other bills on third reading

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Villar said, however, that the existing Cooperative Code, enacted in 2008, needs updating to respond to the growing complexities and evolving needs of the cooperative sector.

Under Senate Bill No. 1431, the registration of cooperatives would be streamlined through reduced processing times and capital requirements, particularly for agricultural cooperatives. It would also expand the capital base of cooperatives by allowing foreign investments, subject to safeguards to ensure Filipino control and management.

These reforms, Villar pointed out, will help make cooperatives more inclusive, flexible, and viable, allowing them to expand their operations and serve more members and communities.

“Mr. President, strengthening and supporting the growth of cooperatives in the country is one important step for us to empower our farmers, fishers, teachers, and other sectors to further improve the local economy of our communities,” Villar said in Filipino.

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Meanwhile, Majority Leader Miguel Zubiri also recognized the initiatives of the Villar Foundation in supporting cooperatives and community enterprises that contribute to poverty reduction.

READ: Cooperatives empower former rebels to lead productive lives

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Through its Awards for Poverty Reduction, the foundation not only recognizes deserving cooperatives but also provides them with financial assistance to help sustain or expand their enterprises.

Villar said the foundation’s continuing support for cooperatives reflects the broader role these organizations can play in creating sustainable livelihood opportunities and strengthening local economies.

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“Strengthening cooperatives is not just about developing organizations. This is about giving more opportunities to our countrymen so they can have more stable livelihoods and become more active participants in the local economy,” Villar said. /atm