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Jakarta Post

MSMEs to be massed into ‘holding company’

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Wed, December 11 2019   /  12:22 am

The government has prepared a five-year road map to nurture the development of Indonesia’s micro, small and medium enterprises (MSMEs) with the principal aim of improving their ability to export products. According to the road map, the government aims to increase MSME exports from 18 percent in 2020 to 30 percent by 2024. The contribution of MSMEs to gross domestic product is also expected to increase from 61 percent next year to 65 percent by 2024. Speaking at a national gathering of waqf microbanks in Jakarta, President Joko “Jokowi” Widodo expressed his desire to see the country’s MSMEs clustered into a larger group in order to achieve the economic scale required to access the global market. “I have already seen the establishment of business clusters. As I said to the coordinating economic minister [Airlangga Hartarto], the clusters need a bigger umbrella akin to a holding c...