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SMEs prime driver of RI economic growth: Minister
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Newly appointed Finance Minister Sri Mulyani Indrawati (right) shakes hands with Trade Minister Enggartiasto Lukita during the announcement of the new Cabinet ministers at the Merdeka Palace in Jakarta on July 27. (AP Photo/Tatan Syuflana)
F
inance Minister Sri Mulyani Indrawati underlined on Tuesday the need to strengthen engagement and cooperation between the government and business players to stimulate the development of small and medium enterprises (SMEs) in Indonesia.
Stronger engagement and cooperation was one of three important factors that would lead to growth in the sector, she added.
"Through this, there will be greater opportunities for SMEs to be in the driver’s seat of Indonesian economic growth. They have always been an important player in creating jobs, serving as an important cushion each time the country’s economy faces a huge shock," she said in Jakarta on Tuesday.
The newly appointed finance minister highlighted the importance of SMEs for Indonesia’s economic growth during the opening of the 2016 World Islamic Economic Forum (WIEF), themed "Decentralising Growth, Empowering Future Business".
Sri Mulyani further said it was expected the 12th WEIF would not only bring the stronger engagement and cooperation needed, but it would also foster cultural exchange through the Moca Fest. Held on the sidelines of the two-day-forum, the festival aims to provide an opportunity for members of the younger generation to start doing business.
The minister said that as the second step, the government needed to nurture innovation as the number of new businesses supported by digital technology had been increasing rapidly in the global economy.
"Innovation will create value and definitely lower costs," she asserted.
Sri Mulyani further said that events where start-up players could meet investors were very important to facilitate the transformation of new ideas into feasible concepts."We need to transform all of these into concrete actions," she said. (ebf)
