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Jakarta Post

Crisis-proof SMEs sector will continue to grow despite crunch

  • Ika Krismantari

    The Jakarta Post

Jakarta   /   Fri, December 26 2008   /  11:20 am

When bad news seems to dominate the country's business environment, from delays in investment, cuts in production and revenue, to possible layoffs, one sector may again prove its resilience to external shocks -- small and medium-sized enterprises (SMEs). The industry, which famously survived the devastating 1997-1998 crisis without a government bailout, is set to grow next year by 8 percent, an official said. Fauzi Azis, Industry Ministry director general for medium and small-scale industry, Wednesday said estimated growth -- which emulates the level of growth recorded over the past several years -- was respectable at a time when almost all other industries predicted cuts in production and revenue amid weakening demand. "The reason why they can survive is because of their speciality products, which gives them an added value compared to mass products," Fau...