The development of women-run micro, small, and medium enterprises (MSMEs), including those producing sharia fashion, will help advance the national economy, according to the Governor of Bank Indonesia (BI) Perry Warjiyo.
“Advancing MSMEs will not only help women to support their families but also create future leaders for Indonesia and advance the national economy,” he said at the opening of the Indonesia International Modest Fashion Festival (IN2MOTIONFEST) here on Thursday.
As many as two-thirds of Indonesia’s MSMEs are being managed by women who are taking care of their children so that they can become the leaders of the nation, he noted. Thus, they need to be supported.
IN2MOTIONFEST will feature 163 modest fashion designers and showcase 1,256 works at 17 fashion shows during the three-day implementation of the Indonesia Sharia Economic Festival (ISEF) 2022.
The modest fashion festival will be resumed in the years to come and is believed to be the biggest of its kind in the world.
Warjiyo said that visitors can buy MSME products showcased at the event by using the Indonesian Standard Quick Response Code (QRIS).
On the same occasion, Cooperatives and Small and Medium Enterprises (SMEs) Minister Teten Masduki expressed his support for the holding of similar activities in ISEF editions in the ensuing years to strengthen Indonesia’s image as a hub for modest fashion globally.
He noted that, according to the 2021 Global Islamic Economic Report, the consumption of the world’s Muslim community in the halal food, pharmaceutical, cosmetic, fashion, travel, media, and recreation sectors has reached US$2 trillion.
The consumption is predicted to reach US$2.4 trillion by 2024, with an average growth of 3.1 percent per year.
“If compared globally, Indonesia’s halal product exports have only reached 3.8 percent of the total world market for halal products. To increase the contribution, strategic efforts need to be made, one of which is encouraging the promotion and publication of Indonesian Muslim products,” he said.
Source: Antara News