President Prabowo Affirms Not All Entrepreneurs Are Involved In Serakahnomic

JAKARTA - President Prabowo Subianto expressed his appreciation to national entrepreneurs who have contributed to the economy by creating jobs, investing, and keeping their profits domestically.

He emphasized that not all large business actors engage in the economic practice he calls "serakahnomics."

"Thank you to every national entrepreneur who has created jobs in Indonesia, invested in Indonesia, and kept their profits in Indonesia. Make no mistake, not all large entrepreneurs follow the "serakahnomics" school of thought," he said at the 2025 Annual Session of the People's Consultative Assembly (MPR) and the Joint Session of the House of Representatives (DPR) and the Regional Representative Council (DPD) at the DPR Building, Parliament Complex, Jakarta, Friday, August 15.

For your information, "serakahnomics" is a term coined by Prabowo to describe economic practices that are solely oriented towards personal gain, disregarding social justice and the public interest (greedy). It is also intended to criticize unethical practices such as price manipulation in the market.

Prabowo added that the government has actually invited most entrepreneurs to participate in nation-building, embodying the concept of Indonesia Incorporated, an economic development approach that involves all elements in an integrated manner as a unified national team.

"I told them they must be part of Indonesia Incorporated. Indonesia Incorporated is an economic development concept in which all stakeholders, all players, work together as a strong, unified national team. Large companies have a role, medium-sized companies have a role, and small companies have a role. We help the poor, we empower them; that's what Indonesia Incorporated is all about," he said.

He emphasized that empowering the poor will increase their purchasing power, which will ultimately encourage consumption of products produced by large industrial sectors.

"If we eliminate poverty, people below the poverty line will have income, purchasing power, and they will buy products from factories owned by large companies. That's what we call a chain economy that strengthens each other, not destroys each other," he said.