Ministries Sign MoU to Help MSMEs Go Global

Indonesia’s foreign affairs and finance ministries have agreed to collaborate to improve institutional cooperation to support economic diplomacy, including to help Micro, Small, and Medium Enterprises (MSMEs) enter global markets, report Antara News.

To strengthen cooperation, Foreign Minister Retno Marsudi and Finance Minister Sri Mulyani Indrawati signed a Memorandum of Understanding (MoU) on Cooperation in the Field of State Finance and Foreign Relations to Support Economic Diplomacy on Monday.

“Through this MoU, the government will support MSMEs to enter global markets,” Marsudi said during the MoU signing ceremony at Pancasila Building, Jakarta.

Under the administration of President Joko Widodo, Indonesia is providing great support to MSMEs, as they are the backbone of the national economy, she added.

“With the largest number of MSMEs in Southeast Asia, our MSMEs’ contribution to the economy only reaches 15-percent. Meanwhile, Singapore, Malaysia, and Thailand (MSME contributions to their economy) are bigger,” Marsudi noted.

She said she expects the collaboration between the Ministry of Foreign Affairs and the Finance Ministry to be implemented immediately in Indonesia’s 131-representative offices abroad, which serve as the “eyes and ears” as well as information agents overseas, report Antara News.

In the short term, Marsudi asked the team from the foreign affairs and finance ministries to map out strategies between MSMEs and Indonesian representatives and conduct a comprehensive study of opportunities for Indonesian MSME products in accredited countries.

“The Finance Ministry can provide data on the potential of MSMEs based on joint curation regarding their superiority and export capacity,” she said.

Antara News say she added that after obtaining the data, the ministry can synergize and encourage the implementation of the strategies. Meanwhile, the Indonesian representatives will provide accurate information regarding entry permits and market penetration.

In the long term, both ministries will need to set up performance evaluation mechanisms based on accurate criteria, such as exports and revenue, Marsudi emphasized.

“In the future, we should expand this collaboration to ministries and relevant agencies to form a great strategy for MSMEs to go global, from capacity development, production financing, to product marketing,” she added.

Source: Antara News

Photo by Aditya Wardhana on Unsplash

Latest Article
President Encourages Investment Outside Java
Speaking at the 2023 National Investment Coordination Meeting in Jakarta, Thursday (7/12/23) President...
BI and ATR/ BPN Sign Agreement to Support MSMEs
Deputy Governor of Bank Indonesia (BI), Juda Agung, and Secretary General of the Ministry of Agrarian...
Investors From Hong Kong Keen to Expand in Indonesia
Jakarta Globe is reporting that many businesses in Hong Kong, across a range of sectors and industries,...
Minister: Digital Economy White Paper is a Guide for Digital Transformation
During the launch of the White Paper on National Strategy for Development of Indonesia’s Digital...
Eastern Indonesia’s Largest Hospital Inaugurated
President Jokowi inaugurated the largest hospital in the eastern part of Indonesia on Wednesday (6/12/23,)...

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.