Indonesia is prioritizing the passage of a new Cooperatives Law in 2024, seeking to overhaul regulations governing the sector. The current law, dating back to 1992, is considered outdated and insufficient to address the evolving needs of Indonesia’s cooperative enterprises. The new bill aims to strengthen the role of cooperatives in national economic development and improve governance. Key objectives include enhancing legal certainty, promoting innovation within cooperatives, and increasing their contribution to inclusive growth. Officials believe the updated framework will attract greater investment and participation in the cooperative movement. The legislation is currently undergoing final review and is expected to be submitted to parliament soon. This reform is seen as crucial for empowering local businesses and fostering a more equitable economy.