Go is a co-author and co-sponsor of the measure, which seeks to amend the Cooperative Code of the Philippines enacted in 2008 and make the regulatory framework more responsive to the evolving needs of the cooperative sector.
Under the proposed law, the registration of cooperatives would be streamlined through reduced processing times and capital requirements, particularly for agricultural cooperatives.
The measure seeks to make it easier for groups to establish cooperatives and expand their capacity to provide livelihood and economic opportunities to their members.
The bill also seeks to broaden the capital base of cooperatives by allowing foreign investments, subject to safeguards on Filipino control and management. This would provide cooperatives with additional opportunities to access capital while maintaining Filipino participation in their governance.
Go highlighted the important role of cooperatives in creating opportunities for Filipinos, particularly in local communities and the agricultural sector.
“Malaki ang papel ng ating mga kooperatiba sa pagbibigay ng dagdag na oportunidad sa ating mga kababayan. Kaya dapat patuloy nating palakasin ang kanilang kapasidad at gawing mas responsive ang mga batas na sumusuporta sa kanila,” Go said.
He emphasized that strengthening cooperatives can help promote inclusive economic growth by providing members with opportunities to improve their livelihoods and contribute to the development of their communities.
“Ang layunin natin ay magkaroon ng mas matatag at mas competitive na mga kooperatiba na tunay na makakatulong sa kanilang mga miyembro at komunidad. Sa abot ng ating makakaya, susuportahan natin ang mga hakbang na magbibigay ng oportunidad sa ating mga kababayan na umasenso,” Go stated.
Go’s advocacy for cooperative development naturally flowed into a broader acknowledgment of his legislative work related to the sector. He has been involved in measures that strengthen institutional support for cooperatives nationwide.
Among these are Republic Act No. 11535, which ensures the appointment of Cooperative Development Officers in local government units, and RA 11502, which institutionalizes October as Cooperative Month in the Philippines. Go is a co-author and co-sponsor of the measures.
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These laws form part of his longstanding effort to ensure that the cooperative sector receives the attention, technical assistance, and policy support necessary to help it flourish. By reinforcing these advocacies during the payout, he connected his legislative role with the on-the-ground realities faced by cooperative members, bridging policymaking with community experience.
The Senate’s approval of SBN 1431 on third and final reading marks a step toward updating the country’s cooperative framework and helping cooperatives respond to the changing economic environment.
Senator Bong Go
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