"Through innovations, the producers can reach their consumers," President Joko Widodo said.Tangerang, Banten (ANTARA News) - President Joko Widodo expressed his commitment to supporting the development of digital applications to promote small and medium enterprises (SMEs) to distribute their products.
"Through innovations, the producers can reach their consumers," Widodo stated during the Indonesia Fintech Festival & Conference here on Tuesday.
The president remarked that Tani Hub, a digital application, could directly connect farmers with the markets and consumers.
By utilizing applications and software, the president believes that farmers, fishermen, and SMEs could expedite the sales and distribution of products effectively.
The speed of distribution could make the product prices more competitive for consumers.
"The applications being developed will greatly assist small businesses and microenterprises," the president emphasized.
The president expressed hope that the fishermen and farmer groups would function as a corporation to ensure professional management.
"If the fishermen and farmer groups can work together as a corporation, they will be able to prosper," the president stated.
In addition, the head of state believes that applications and software can improve financial literacy in society by providing a system for managing finances.
As a result, SMEs in the region could benefit from software that has been integrated with services and formal financial services to improve their businesses.
President Widodo had earlier expressed optimism that digital applications would support the governments efforts to develop financial inclusion for the people.
"We should harness the power of digital technology to serve as a golden ticket to reach out to those people who are financially illiterate, one of the reasons being their lack of access to formal financial services," President Widodo noted.
In his remarks at the opening event of the Indonesia Fintech Festival & Conference at the Indonesia Convention Exhibition in Tangerang, President Widodo expressed hope that the participants will be able to create or improve their applications to help people in remote areas have access to banking services.
The president also lauded some banks that were already offering financial services in remote areas.
According to data, only 21.8 percent of Indonesians are financially literate and are able to access services offered by financial institutions.
Meanwhile, President Widodo remarked that as compared to Indonesia, this figure was higher in other neighboring countries, such as Singapore, at 96 percent; Malaysia, 81 percent; and Thailand, 78 percent.
"This is what we need to catch up on," he pointed out.
The Indonesia Fintech Festival & Conference 2016 is a joint event being organized by the Financial Services Authority and the Indonesian Chamber of Commerce and Industry on August 29-30.
The event aims to bring together stakeholders of the Fintech industry, ranging from regulators, financial institutions, investors, startups, incubators, industry associations, as well as academia.
The agenda will comprise events, such as the Startup Competition, Startup Coaching, Startup Speed Dating, and a conference that will be attended by various ministers, regulators of the financial sector, and innovators in the Fintech industry.(*)
Editor: Heru Purwanto
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