Indonesia Eyes Village Cooperatives to Drive 8% Economic Growth
Jakarta,Indonesia - Indonesia’s newly appointed Cooperatives Minister,Ferry Juliantono,believes a nationwide network of village cooperatives holds the key to achieving the nation’s aspiring 8% economic growth target. Speaking at the great lecture seminar on Thursday,Minister Juliantono emphasized the critical role of inclusive economic growth,ensuring benefits reach all levels of Indonesian society.
“Economic transformation must extend beyond large corporations and significant capital,” Minister Juliantono stated.”We need to empower small and micro enterprises, and integrate the informal sector into the growth process – and cooperatives are the ideal vehicle for this.”
The government’s “Red and White Village Cooperatives” program, officially launched by President Prabowo Subianto last July, aims to establish approximately 80,000 cooperatives across the country. These cooperatives are envisioned as vital hubs within village communities, providing essential services like savings and loan facilities, and even basic healthcare.
Minister Juliantono stressed that with strategic institutional strengthening, widespread digitalization, and supportive government policies, these cooperatives can become a primary engine for economic expansion. His ministry is committed to transforming cooperatives from symbols of community spirit into powerful contributors to national prosperity and improved public welfare.
Finance Minister Purbaya Yudhi Sadewa echoed this optimism, suggesting the 8% growth target is attainable within two to three years, contingent upon robust fiscal support, increased investment, and broad participation from all stakeholders. He also highlighted the importance of equitable economic distribution, ensuring the benefits of growth are widely shared.
The success of the Red and White Village Cooperatives is seen as instrumental in achieving this broader economic vision. The program builds on existing initiatives, including plans to allocate Rp200 trillion (approximately $12.8 billion USD) to banks modeled after prosperous cooperative structures.
Related News:
* Indonesia’s new minister targets one business unit per village co-op
* Indonesia to place Rp200T in banks, following Kopdes model
Emma Walker, World-Today-News.com – News Editor & SEO Strategist
