"Our MSMEs must level up, go digital, go global, and dominate the domestic market because our market is very large but also not forget the export market and global market," he remarked while opening the MSME Expo(rt) Brilianpreneur event here on Thursday.
He noted that currently, only around 15.7 percent of Indonesian MSMEs have entered the export market.
The figure is considered to be behind other neighboring countries, such as Singapore, with 41 percent, and Thailand, with 29 percent.
Jokowi also encouraged MSME financing to continue to be made easier, especially since bank credit disbursement to MSMEs has only reached 21 percent of the total existing credit.
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To this end, he requested that regulations related to MSME financing be improved to make it easier for MSME players to access financing.
"Not all MSMEs have collaterals, so the prospect must also be looked at. Do not just look at the collaterals but look at the prospects as well. (If they) do not have any collateral, but the prospects are good, credits should be able to be provided," he explained.
On that occasion, he expressed gratitude to MSME players who have supported Indonesia's economy.
He noted that MSMEs contributed 61 percent to Indonesia's GDP. Furthermore, MSMEs absorb 97 percent of the workforce.
The president also reminded MSMEs to continue to pay attention to market demand and trends. Thus, MSME products can remain up-to-date and meet market demand.
At Thursday's event, President Jokowi was accompanied by Coordinating Minister for Economic Affairs Airlangga Hartarto, State-Owned Enterprises Minister Erick Thohir, Cooperatives and Small and Medium Enterprises Minister Teten Masduki, and Trade Minister Zulkifli Hasan.
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Translator: Rangga Pandu, Raka Adji
Editor: Yuni Arisandy Sinaga
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