AMLAPURA

Karangasem Regent I Wayan Geredeg says his district, Bali’s poorest, should now get a new lease of life from being recognised for efforts in building a cooperative system and boosting the local economy.

He said after receiving awards for Karangasem from President Susilo Bambang Yudhoyono in Jakarta that the five-year local level economic expansion that had been recognised was a tribute to all concerned, including the central government, which funds a lot of local cooperatives.

“Karangasem is no longer to be underestimated in regional development,” he said.

In the past two years another 29 local fruit-growing cooperatives had started up, employing another 1,438 people. Karangasem now had 63,017 people earning incomes from local cooperatives.

The sector was now worth Rp70.467 billion (US$7.7 million) in venture capital invested and Rp72.446 billion ($7.9 million) in annual business volume.