Bank Indonesia (BI) has launched the seventh Indonesia Sharia Economic Festival (ISEF) by taking the festival fully online, the first of its kind in the country. ISEF, which was started in 2014, is an international event that brings together key stakeholders in the sharia economy, including business players, governments,...
Indonesia’s Trade Ministry held a virtual business matchmaking event recently to help connect food and beverage (F&B) SMEs who are looking for potential buyers overseas; particularly, the United States.
The event was part of the government's strategy to stimulate the SME sector and boost exports toward reviving growth in mitigating...
TikTok, one of the world’s fastest-growing social media platforms, has set its sights on helping the SMEs of Indonesia to digitise in the wake of the COVID-19 pandemic. TikTok Indonesia said that the platform wished to capture as many of Indonesia’s 6 million SMEs as possible with its new...
Indonesia's central bank has agreed to buy a total 574.59 trillion rupiah (US$39.74 billion) of low-yielding government bonds this year to help fund the economic recovery programme, Finance Minister Sri Mulyani Indrawati said on Monday.The bond-buying programme will help finance the 2020 fiscal deficit, which is forecast to reach...
Small and medium enterprises (SMEs) in Indonesia are battling with challenges ranging from an unstable internet connection and logistics disruptions to financing difficulties and weakening purchasing power as they cope with the COVID-19 crisis.A recent survey conducted by Sea Insights found that 50 percent of business owners saw an...
Indonesia’s Industry Ministry is currently seeking to increase the role of SMEs in supplying raw materials for larger businesses, as the government intends to rely less on imported goods.
A program that runs from July 1-15 aims to prepare selected SMEs by helping them with brand registration, packaging as well...
The Indonesian government has teamed up with e-commerce platform Lazada Indonesia to advance its partnerships with digital platforms to meet its target of pushing 2 million small and medium enterprises (SMEs) to go digital this year. The Cooperatives and SME Ministry and Lazada Indonesia today launched a training program...
Indonesian consumers grew deeply pessimistic in May as the COVID-19 pandemic-related layoffs eroded people’s confidence in the economy. A Bank Indonesia (BI) survey showed that the consumer confidence index (IKK) has dropped to its lowest level in nearly 15 years, weighed down by negative perceptions of the current economic...
Indonesia’s ride hailing start-up Gojek, has announced it’s intentions to help the smaller businesses in the country survive the harsh economic crisis by assisting their transformation to online. In addition, the company also wishes to help bridge the gap between these SMEs and the large global tech companies.
Recently, Gojek...
A recent survey by the International Labour Organization (ILO) has revealed that the majority of small and medium enterprises (SMEs) in Indonesia had been forced to close their businesses, either temporarily or permanently, due to Covid-19. According to the survey, the SMEs need support from the government in the...
Businesspeople are prepared to press on with the Indonesian government’s plan to gradually reopen the economy under health protocols to establish a “new normal” amid the continued rise of confirmed COVID-19 cases in Indonesia.
On 20 May, Health Minister Terawan Agus Putranto signed a set of policies on the prevention...
The Indonesian Chamber of Commerce and Industry (Kadin) has pointed out that the government needs to boost economic recovery spending to Rp 600 trillion (US$40.17 billion) to help businesses cope with the economic impact of the COVID-19 crisis. The group said many businesses only have enough cash flow to...
