On Tuesday, at a book discussion event in Tangerang, Banten, he stated that the adoption of technology, modernization of business processes, and ease of access to financing are important parts of the development of cooperatives and MSMEs.
"Thus, let us jointly encourage cooperatives as business entities to bring together MSMEs so that they no longer do business alone," he noted in a statement from his ministry.
Masduki underscored the need for stakeholders to make four strategic efforts for the development of cooperatives and MSMEs, with the first being strengthening mentoring and protection so that they have stronger capacity and competitiveness in facing market dynamics.
The second effort is ensuring access to financing, technology, and wider markets so that cooperatives and MSMEs can develop more optimally and expand their business networks.
Furthermore, the third effort is building cross-sector collaboration by involving agencies, government institutions, businesses, and educational institutions to create a solid and synergistic MSME ecosystem.
"Lastly, what is also important is encouraging an increase in the productivity and competitiveness of cooperatives and MSMEs through the improvement of products' quality, digital technology adoption, and supply chain efficiency," he remarked.
The minister expressed hope that the next government would continue efforts directed at transformation and innovation in the development of cooperatives and MSMEs to boost their contribution to national economic growth.
Masduki also expects that the good practices applied by the ministry, such as those outlined in the Mainstreaming Cooperative and SME Development Strategy book series, would be continued.
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Translator: Shofi Ayudiana, Raka Adji
Editor: Aditya Eko Sigit Wicaksono
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