"This year, the spending budget of the ministries, institutions, and state-owned enterprises — to be spent on MSME products — has touched Rp318 trillion from the total government budget of Rp725 trillion," Minister of Cooperatives and Small, Medium Enterprises (SMEs), Teten Masduki, said here on Tuesday.
As it works to optimize the untapped potential of the domestic market, the ministry is also cooperating with the Government Goods and Services Provision Policy Institution (LKPP) to ensure that the government budget is being used in accordance with the law, he explained.
"We are working with the LKPP, so that MSME products can be included in a special catalogue," the minister continued.
The LKPP is conducting training alongside ministries, institutions, and state-owned enterprises for the provision of MSME product packages.
"I believe this is a substantial market for MSMEs, especially considering that the Bangka Belitung Provincial government has asked civil apparatuses to shop from MSMEs, which can be helpful to small businesses in maintaining and expanding their venture amid the COVID-19 pandemic," Masduki said.
The Ministry of Cooperatives and SMEs has also accelerated digitalization of MSMEs to expand the market for their products and allow the public to conduct transactions anywhere amid the pandemic.
"The digitalization of MSMEs will surely widen market access for MSME products, both in the domestic and international markets. Furthermore, digitalization would only help them to access funding and expand their venture," he stated. (INE)
Related news: A digital prescription for MSMEs amid COVID-19
Related news: Ongoing digital transformation to spur development of MSMEs: Minister
EDITED BY INE