Bank Indonesia (BI) have said that strengthening the performance of Micro, Small, and Medium Enterprises (MSMEs), as one of Indonesia’s economic backbones, remains a main focus of the government, according to reporting from Antara News.
“To maintain the (economic) growth, we still need the contribution from MSME actors as the bolster of our economy,” the Central Bank’s Deputy Governor Aida S. Budiman said in Bandarlampung on Saturday.
Strengthening the domestic economy will be vital to mitigate the effect of global economic uncertainties on MSMEs, she added.
“MSMEs also play their role in domestic economic growth, as evidenced by their contribution to the national economy that reaches 60-percent, which is huge,” Budiman said.
The government will continue pushing MSMEs to improve their performance by synergizing with the relevant stakeholders through activities that will support MSMEs in increasing their capabilities, say Antara News.
One of the measures will be developing a business model for MSMEs that focuses on upgrading them as corporations to build a formidable ecosystem. The authorities will also improve the capacity of human resources in the sector.
“To facilitate the entry of MSMEs into the digital sphere, as well as facilitate their funding, will be Bank Indonesia’s commitment to MSMEs,” the central bank official stated. Meanwhile, activities involving cross-sectoral cooperation have been pursued to advance MSME performance.
“We will also help promote flagship products from each region through the national-level cooperation showcase with the Proud of Indonesia-Made Products and Proud to Travel in Indonesia campaigns. From here, we can even promote quality products from regions for the foreign markets,” Budiman explained.
As a region with an agrarian-based economy and a large number of MSMEs, Lampung should maintain its regional economic growth by pushing the development of MSMEs in the province, she said.
“(I suggest Lampung) to start clustering MSMEs to facilitate them in improving the performance of Lampung MSMEs,” the deputy governor advised.
Source: Antara News