Jakarta — Indonesian President Prabowo Subianto praised the majority of the country’s large business owners for joining efforts to build the nation, saying the wealthy should play their part while the poor are empowered.

“Not all big businesspeople follow what I call greedonomics,” Prabowo said in his State of the Nation Address at the parliamentary complex in Jakarta on Friday. “In fact, most are willing to work with us to build Indonesia together.”

Prabowo uses the term greedonomics to describe the pursuit of maximum profit at the expense of the people’s suffering.

He urged all business actors to take part in what he calls “Indonesia Incorporated” — an economic development model that unites all stakeholders as one national team.

“The strong and the powerful have a role to play. The middle tier has a role to play. The small players have a role to play, and we will support them. The poor will be empowered. That is what I mean by Indonesia Incorporated,” he said.

According to Prabowo, empowering low-income communities will boost purchasing power, which in turn will energize the entire economic chain — including large industries.

“We can eliminate poverty if those below the poverty line have money, have income, and have purchasing power,” he said. “They will buy goods produced by the factories owned by big companies. That is what I call a mutually reinforcing economic chain — not one that destroys itself.”