New digital-based MSMEs to become source of economic growth: Governor

Jakarta (ANTARA) – The emergence of new digital-based micro-, small-, and medium-scale enterprises (MSME), supported by millennials, will become a new source of the country’s economic growth amid the COVID-19 pandemic, Bank Indonesia (BI) Governor Perry Warjiyo stated.

“Millennials, as the nation’s next generation, would become a driving force for new MSME now and in future,” Warjiyo remarked at the opening of the virtual Indonesia Creative Works exhibition here on Friday.

Warjiyo noted that Indonesia’s demographic bonus had determined the millennials’ crucial role in the country’s economy.

Young generations favoring the use of local products would become a potential market for MSME, while at the same time, millennials can also become new entrepreneurs, he pointed out.

The third series of the Indonesia Creative Works Exhibition will be held virtually on November 20-22.

In its first and second series, BI, through the exhibition, has encouraged MSME to export and go digital and promote the Proud of Indonesian Products Campaign.

Some 53 thousand people visited the first two exhibitions and involved 379 MSMEs comprising 127 MSME involved in clothing production, 75 handicrafts producers, and 177 MSME engaged in the food and beverage sector.

The exhibition booked Rp10.5 billion of total transactions, Rp113.2 billion of transactions in business matching, Rp4.7 billion of funding commitment, and business agreement with 16 buyers from six countries: Singapore, Italy, Korea, Australia, Japan, and China.

Source: Antara News