Collaboration instrumental in boosting MSMEs’ competitiveness

Jakarta (ANTARA) – Collaboration is the key to improving the competitiveness of micro, small, and medium enterprises (MSMEs), according to Trade Minister Zulkifli Hasan.

“Cross-sectoral collaboration can support MSMEs to go international. Therefore, we need to develop the ecosystem,” the minister stated at the Legendary Brand Festival event here on Saturday.

Hasan remarked that his ministry continues to optimize the ecosystem and expand MSMEs’ networks to support them in foraying into international markets.

He explained that MSMEs in the country would be guided to level up, so that their products could draw people.

The effort is made through training and assistance in production to push MSMEs to be more innovative and open to changes.

In addition, the government is supporting MSMEs through exhibitions, the dissemination of information on the “love local products” campaign, and the Proud of Indonesian Product national movement.

Moreover, MSMEs will be connected to modern retailers and marketplaces to build partnerships and access to supply their products.

In terms of capital, the Ministry of Trade is also facilitating MSMEs’ access to financing institutions.

ccording to Hasan, 60 to 80 percent of the bank credit in developed countries is generally used to help MSMEs access capital. Meanwhile, in Indonesia, the figure is still at around 30 percent.

To this end, the ministry encourages MSMEs in the country to have the vision to go international.

“Thus, the sales can be carried out through digital marketplaces or directly through retailers. There are those that help in financing those (businesses) that are facing difficulties in (obtaining) capital. Next, (MSMEs should) target export markets,” he remarked.

The minister further noted that several financing and bank credit institutions have committed to supporting MSMEs by providing access to capital with low interest.

Meanwhile, for exports, the Indonesia Eximbank (LPEI) will help MSMEs that are facing difficulties in obtaining capital.

Moreover, the Ministry of Trade continues to optimize the trade of Indonesian products through 46 representative trade offices abroad as well as by making the most of the ministry’s 26 trade agreements.

Hasan emphasized that the government, through the Ministry of Trade, continues to make efforts for facilitating the progress of MSMEs in a bid to also drive the country’s economy.

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Source: Antara News Agency