Micro, small, and medium enterprises (MSMEs) have an opportunity to dominate the domestic market in 2023 with uncertainty disrupting global supply chains, Cooperatives and Small and Medium Enterprises (SMEs) Minister Teten Masduki has said.
“This year becomes a momentum for products of MSMEs or local brands to dominate the domestic market. Because the global supply chains are disrupted, it becomes momentum to make the most of the domestic potential,” he said in a written statement received here on Thursday.
n terms of regulations, the government has made a policy requiring central and regional governments to spend 40 percent of their budget or up to Rp400 trillion to purchase local products.
“It can create an economic growth of 1.8 percent and create 2 million jobs. This is important amid global uncertainties,” he said.
This year, the key to maintaining Indonesia’s economy is buying and consuming local or MSME products, he added.
“We can see that those who have large purchasing power are the upper middle class whose money is not used during the pandemic. That is because they did not travel and just stayed at home. Now that PPKM (public activity restrictions) has been revoked, they will start spending money and support people’s purchasing power,” he explained.
The deputy general chairperson for entrepreneurship at the Indonesian Chamber of Commerce and Industry (Kadin), Aldi Haryopratomo, also said that this year has become a good opportunity for MSME players to take over the domestic market.
He affirmed that Kadin has many programs to help MSMEs gain wider access to markets and industries.
In addition, in terms of finance, Kadin is offering many programs in collaboration with P2P (peer-to-peer) lenders and banks to provide financing to MSMEs and is committed to training MSMEs on managing their finances.
“We want to strengthen the foundation of MSMEs so they can expand and take opportunities amid the recession,” he said.
Source: Antara News