Jakarta, July 21 -- Indonesian President Prabowo Subianto officially launched around 80 thousand cooperatives established nationwide under the Red and White Village Cooperatives program in Klaten District, Central Java, on Monday.

In a speech, livestreamed by his secretariat's YouTube channel and monitored from Jakarta, the president emphasized that the government envisions these village cooperatives as tools to boost the national economy by raising people's living standards across the country.

He stressed that operating in such large numbers would make the cooperatives effective in accelerating Indonesia's economic development.

The president highlighted that these business entities embody the nation's noble value of gotong royong (coo...