The minister made the statement while delivering his virtual remarks at the graduation event of Pahlawan Tuanku Tambusai University, Riau, followed online in Jakarta on Saturday.
Mahfud stated that entrepreneurship education in students can bolster the entrepreneurship spirit to carry out businesses through positive ways.
In addition, entrepreneurship education can help drive Indonesia's economic growth along with helping the country to catch up in terms of increasing the number of entrepreneurs at the global scale.
The minister cited the example that in Stanford University, the number of graduates that have developed their own businesses reached 34 percent, while in Harvard University and Oxford University, the figure reached 28 percent and 27 percent respectively.
The minister noted that entrepreneurship education helps prospective entrepreneurs to become aware of their rights and responsibilities while starting a business and taking various steps without having to violate the regulations in Indonesia or worrying about their business stalling.
The Indonesian government is aiming to boost entrepreneurial growth as outlined in Presidential Regulation Number 2 of 2022 concerning National Entrepreneurship Development for 2021-2024.
"To encourage our entrepreneurial growth for three years, in 2024, (the entrepreneurship ratio is targeted to) reach 3.95 percent of the total Indonesian population," he remarked.
He assessed that the target is still low as compared to the achievements of Indonesia's neighboring countries, such as Singapore, with 8.76 percent; Thailand, 4.26 percent; and Malaysia, 4.74 percent.
To achieve the target, the government is providing support through training programs and assistance for micro, small, and medium enterprises (MSMEs), among others.
The government is also implementing programs to create new entrepreneurs and strengthen MSMEs' competitiveness amid the free market in the era of business digitalization and globalization.
"Along with improving legal instruments and encouraging the development of entrepreneurial businesses in Indonesia, universities are expected to be able to prepare excellent human resources and business players," the minister remarked.
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Translator: Hreeloita Dharma, Raka Adji
Editor: Azis Kurmala
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