Coops help boost up Mandaue's economy

CEBU, Philippines - Cooperatives in Mandaue have helped boost the city's economy and address unemployment.

Councilor Beethoven Andaya, in a press conference with cooperative officials Thursday, said retrenched employees in the city whose companies were affected by the global economic crisis and who have not found employment again, have been hired to help run cooperatives.

The Mandaue City Cooperative Development Council (MCCDC) already has 71 cooperatives which can help economic growth in the city and address the unemployment rate.

Andaya said when Giardini del Sole, a furniture export company closed down a few years back, some of its workers were hired to work in cooperatives.

Some existing cooperatives in the city are now earning millions of pesos.

For the whole month of October, cooperatives will present a lot of activities.

On its first day celebration, a caravan will kick off the lined up activities to be followed by tree planting, sports activities, and trade fairs.

About 7,000 individuals now work in cooperatives.

Andaya said almost all companies in the city have cooperatives.

But he said cooperatives in the city do not only benefit residents in Mandaue because these reach the neighbouring towns.

Each cooperative registered with the MCCDC participate in programs initiated by local government units such as clean-up campaigns, Andaya said.

The MCCDC is registered with the Cooperative Development Authority (CDA). (FREEMAN)