Santoso believes that by processing its natural resources, Indonesia can increase the added value of products and create more quality jobs.
"Downstreaming is not merely processing raw materials but also involves innovation and high technology. With mastery of technology, we can produce products with higher added value to compete in the global market," Santoso noted in a statement from his office on Tuesday.
Apart from job creation, he viewed downstreaming as a strategic approach to reduce Indonesia's dependence on raw material exports, increase foreign exchange, and strengthen the country's bargaining position in the global supply chain.
The minister then outlined a program initiated by his side focusing on strengthening the national economy called micro, small, and medium enterprises (MSMEs) BISA exports. The program aims to foster and assist MSMEs to penetrate the export market.
He elaborated that under this program, MSMEs will receive various forms of support, ranging from training to access to financing and assistance in terms of product marketing, such as the use of e-commerce and participation in National Online Shopping Day.
"We believe that MSMEs have enormous potential to contribute to national economic growth. Through this program, we want to offer opportunities for MSMEs to go global in order to become the backbone of the national economy," the minister remarked.
His side has officially established cooperation with Gadjah Mada University (UGM), which was marked by the signing of a memorandum of understanding on the implementation of the Tridharma of Higher Education and Independent Learning - Independent Campus.
According to Santoso, this cooperation is a strategic step to optimize the potential of human and intellectual resources owned by universities in supporting the national downstream program.
"This cooperation is expected to bring various innovations to increase the added value of Indonesian products and strengthen competitiveness in the global market," he noted.
Translator: Maria Cicilia G P, Resinta Sulistiyandari
Editor: Rahmad Nasution
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