January 20, 2021 | Invest Indonesia

President encourages large firms, MSME to intensify cooperation

Source from: Antara News

Original source HERE

President Joko Widodo (Jokowi) has encouraged large-scale and small-scale enterprises to bolster the value of partnership and expand the business sector involved in the cooperation.

On Monday, the head of state witnessed the signing of cooperation agreements between foreign and domestic firms and micro-, small-, and medium-scale enterprises (MSME) from the Bogor Presidential Palace, West Java.

Jokowi expressed belief that the cooperation between large firms and MSME could be increased exponentially in future and is expected to boost the development of MSME.

“The cooperation between MSME and large companies must be sustainable, not only once but continuously. The value and coverage should also be increased. Now, it may only be valued at Rp1 billion, but next year, it can reach Rp5 billion, and then Rp10 billion, and thereafter Rp100 billion,” the president remarked during the cooperation agreement inking ceremony involving foreign and domestic firms and MSME.

During the ceremony, 56 foreign and domestic large firms inked cooperation agreements with 196 MSMEs, with investment totaling Rp1.5 trillion.

Jokowi noted that the business sector involved in the cooperation should also be expanded, so that more MSMEs can penetrate the global market.

Under the partnership, MSMEs can learn about improving the quality of products, business management, and market penetration.

“They must have better product quality, design, and management, in addition to being more bankable. This is because they can take a cue from big companies, both domestic and foreign firms, toward an inclusive economic growth that is fair and equal,” the president stated.

Author: Indra A Pribadi, Sri Haryati
Editor: Fardah Assegaf
Edited by Ine