Teten Calls MSME Contribution To Global Supply Chain Still Low

JAKARTA - Minister of Cooperatives and SMEs (Menkop UKM) Teten Masduki said that the contribution of Indonesian MSMEs to the global supply chain was still low. In fact, based on data from the World Economic Outlook IMF, Indonesia's economic growth in 2024 is estimated at 5 percent.

"However, only 6.3 percent of our MSMEs are involved in the global value chain," said Minister Teten in a speech delivered via video at the Inabuyer B2B2G Expo 2024 event at the Smesco Building, Jakarta, Wednesday, May 15.

Teten said, strengthening the supply chain is a crucial element in the MSME business ecosystem. Thus, collaboration is needed between the government, BUMN, the private sector and associations, both at home and abroad.

"With the support of the allocation of government goods and services expenditures, SOEs and other retail sectors, MSMEs must be able to compete to become the main suppliers in the national economy," he said.

He also welcomed the collaboration between the Kemenkop UKM, LKPP and Hippindo in organizing the 2024 B2B2G Inabuyer today.

According to Teten, this reflects the joint commitment between the government and MSME players. Thus, MSME players can take advantage of this momentum to interact and network with buyers and business entities looking for high-quality products from Indonesia.

"I am optimistic that this 2024 Inabuyer B2B2G event will be a catalyst for transactions that have an impact on long-term partner development and encourage innovation and economic progress," he said.

"Hopefully business actors in the country can take advantage of this moment to expand the market, create quality new jobs and ensure sustainable economic growth," he added.