Minister Teten Emphasizes The Importance Of Inclusive Business Implementation To Achieve Economic Growth Throughout The Community

Minister of Cooperatives and Small and Medium Enterprises (Menkop UKM) Teten Masduki. (Theresia Agatha/VOI)

BALI - Minister of Cooperatives and SMEs (Menkop UKM) Teten Masduki said the importance of implementing inclusive principles to ensure economic growth reaches all levels of society.

"By promoting inclusive business principles, we can ensure the benefits of economic growth reaching all levels of our society, especially those who have been neglected historically," Teten told reporters at the Side Event Inclusive Business Summit 2023: "Collaboration for A More Inclusive ASEAN" in Nusa Dua, Bali, Tuesday, August 22.

Minister Teten said inclusiveness in business means embracing diversity and providing opportunities for neglected communities to participate fully in economic activities.

However, one of the challenges in promoting the Inclusive Business (IB) model, especially in ASEAN, is the widespread lack of awareness about inclusive business.

Therefore, with the Side Event Inclusive Business Summit 2023, it is hoped that it can increase awareness, facilitate strategic partnerships, and mobilize resources to overcome these problems.

"Through this event, let's commit to the values of inclusiveness and responsibility. Let's fight to create a business landscape, where every entity, large or small, plays a role in creating ASEAN that is fairer, more sustainable, and prosperous for all," he said.

According to Teten, business inclusiveness needs to be applied in cooperatives and small medium enterprises (SMEs) which are the backbone of the national economy. Cooperatives and SMEs represent the spirit of entrepreneurship, encourage innovation, create jobs, and diversify the economy.

"It is important for us to empower these business entities, ensure they have access to resources, technology and knowledge, and create an environment that facilitates their growth," he said.

Teten also reminded that Civil Society Organizations and Women's Rights Organizations also affect commitments and policies, as well as play an important role in promoting social and environmental responsibilities, gender equality, and community empowerment.

"I look forward to concrete actions in shaping policies and initiatives for our future. Together, we can build ASEAN regions that not only achieve extraordinary economic growth, but also ensure the benefits of this growth can be felt fairly by all its citizens," he concluded.