"Specifically, in order to support MSME development, Bank Indonesia is committed to implementing the three pillars of policy," the central bank's Deputy Governor, Aida S. Budiman, said in an official statement received in Jakarta on Friday.
The first pillar concerns efforts to improve the quality of corporation management to create an integrated ecosystem, she said.
The second pillar is related to the need to further build the capacity of MSME human resources and boost their capability to develop their businesses, including by undertaking digitalization measures with the objective of enhancing productivity.
The final pillar pertains to the urgent need to focus on helping MSME players gain access to financing schemes, which could help them become more competitive, she said.
BI has taken concrete measures to support MSME development, which have included organizing the 2023 Indonesia Creative Works (KKI) event from July 27–30, 2023, which has drawn direct and virtual participation from more than a thousand government-assisted MSMEs.
Through the KKI event, the central bank is helping 280 MSME players connect with 21 financial institutions. It has also organized 89 export business-matching activities with five aggregators.
During the opening of a talk show on the sidelines of the 2023 KKI on Friday, BI facilitated Indonesian MSMEs and foreign buyers to sign a memorandum of understanding that is expected to motivate MSME actors to penetrate global markets.
The talk show discussed several matters, particularly export opportunities and targeted countries. The speakers at the talk show also reviewed success stories and concrete efforts made by MSMEs to penetrate export markets and bolster their competitiveness at the global level.
The talk show also served as a forum to disseminate the government's policies that aim to help MSMEs expand their businesses to markets abroad.
Bank Indonesia held the talk show with the goal of building optimism among MSME players to continue to invest efforts to produce high-quality products with high added value.
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Translator: Imamatul Silfia, Tegar Nurfitra
Editor: Rahmad Nasution
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