Empowering MSMEs key for Indonesia's economic recovery
Country's central bank has introduced tiered requirements for lenders to disburse at least 30% of their loans to small companies, their supply chains, or low-income earners
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EFFORTS to further structural reforms and create sustainable commodity revenue streams have put Indonesia in a strong position. But more needs to be done to empower the country's micro-, small- and medium-sized enterprises (MSMEs).
"The pandemic has accelerated digitalisation in Indonesia, but the pace is still lacking among MSMEs," said UOB economist Enrico Tanuwidjaja at the bank's economic outlook seminar, themed "Empowering the Indonesian Economy for Stronger Recovery".
Based on UOB data, only about 15 per cent of local MSMEs have digitalised their operations, due to their limited resources and often a lack of digital literacy or digital confidence.
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