Politics · Philippines Bureau
Villar pushes for overhaul of Philippines cooperative code
Senator Mark Villar has thrown his support behind a legislative proposal to modernize the country's cooperative framework, arguing that strengthened regulations could unlock greater economic potential in the sector.
LSN Philippines ·
MANILA — Sen. Mark Villar on Monday endorsed Senate Bill No. 1431, legislation seeking to revise and strengthen the Cooperative Code of the Philippines, citing the sector's proven capacity to drive economic growth and create employment opportunities.
The proposed measure aims to position cooperatives as key instruments for advancing social justice, generating sustainable livelihoods, and fostering economic development across the nation, according to Villar's statement.
The senator highlighted the sector's track record of delivering tangible benefits to the Philippine economy, underscoring the need for modernized legal frameworks that could enhance cooperative operations and expand their reach to underserved communities.
The revised code represents efforts by lawmakers to adapt existing cooperative legislation to contemporary business practices and economic realities, potentially opening new avenues for cooperative enterprises to operate more efficiently and compete effectively in domestic and regional markets.