The Ministry Of SOEs Boosts Economic Growth By Shopping For MSME Products

Illustration (Photo: Doc. Antara)

JAKARTA - The Ministry of State-Owned Enterprises (BUMN) is committed to continuing to boost Indonesia's economic growth through spending on local micro, small and medium enterprises (MSMEs).

Expert Staff for Finance and MSME Development of the Ministry of SOEs, Loto Srinaita Ginting, said the Proudly Made in Indonesia Movement (BBI) contributed to increasing consumption of domestic products.

By shopping for MSME products, it has indirectly contributed to supporting the Indonesian economy.

"So if we all share local products, especially MSME products, then actually indirectly we have contributed to supporting the country's economic growth," said Loto, quoted from Antara, Thursday, July 27.

Lota said that the Indonesian economy was supported by MSMEs. The contribution of MSMEs to Indonesia's gross domestic product (PBD) is almost 61 percent and absorbs 97 percent of the workforce.

As many as 65 million MSMEs in Indonesia, 80 percent are women who drive the family economy.

The form of support from the Ministry of SOEs for MSMEs is also shown through the implementation of the MSME Bazaar for Indonesia in Sarinah Jakarta every month. With the theme "Creational Face of the State Children", this bazaar will be held on 27-30 July 2023.

According to Loto, the MSME Bazar for Indonesia is able to print transactions of IDR 250 million every month, even specifically for events with a larger concept capable of reaping up to IDR 18 billion.

"Each event is around Rp250 million, every month it is around Rp250 million, but specifically for expos in June (June 2023) it can reach Rp18 billion because it involves BUMN buyers because it includes product expenditure transactions that are relevant to the BUMN," said Loto.

Bazar this time, featured dozens of fostered MSMEs from PT Antam Tbk and PT Bank Negara Indonesia (Persero) Tbk showing off fashion products, accessories, culinary, and handicrafts.

Loto said all MSMEs involved in this bazaar had gone through a curation process from quality to packaging so that their products were not inferior to foreign manufacture and were not mass produced.

"The advantage of MSME products is unique, yes, because production is not too mass, so many consumers really want these unique products," he said.