Jakarta (ANTARA) - Bank Indonesia (BI) and the Ministry of Agrarian Affairs and Spatial Planning/National Land Agency (ATR/BPN) have signed an agreement to help micro, small, and medium enterprises (MSMEs) develop and advance.

The agreement was signed by Deputy Governor of Bank Indonesia, Juda Agung, and Secretary General of the ATR/BPN Ministry, Suyus Windayana.

“The signing of this agreement is a commitment of Bank Indonesia and the ATR/BPN Ministry’s synergistic spirit to develop MSMEs, which is in line with MSMEs' strategic role in the Indonesian economy,” Agung said in Jakarta on Wednesday.

The agreement aims to synergize the two parties’ tasks, functions, and authority in developing MSMEs and building competitiveness to expedite inclusive economic growth.

Under the cooperation, BI and the ministry are supporting the enhancement of human resources’ competencies and skills in the fields of land and MSMEs. This covers research, training, and provision of information resources.

Agung said that they are also supporting market expansion to broaden MSMEs’ marketing reach, including through digital marketing platforms.

Additionally, they are seeking to raise MSMEs’ financial access to increase their financial literacy, strengthen their financial management capacity, and help them connect with financial institutions to obtain additional capital. They will also help MSMEs in initial land registration and data or information exchange.

Agung said that MSMEs still face big challenges in terms of quality and quantity of products for export.

He emphasized the importance of the legal aspect to support MSME development and innovation, especially in developing environmentally friendly products and business digitalization.

Meanwhile, Windayana said that the ATR/BPN Ministry is ready to help MSMEs in the aspect of land legality as conveyed in a presidential regulation on the acceleration of agrarian reform.

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Translator: Martha, Luthfia, Azis Kurmala
Editor: Anton Santoso
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