Indonesian Central Bank to Help Companies Reach New International Markets

Updated on Thursday 26th July 2018

The Indonesian economy is supported by small and medium-sized enterprises (SMEs) which currently operate at a local level only. This is why the Indonesian National Bank has decided to help these companies and micro-enterprises in expanding abroad. Moreover, the Central bank will help them improve the quality of their products in order to be competitive in the international market, as well. Our Indonesia company incorporation consultants can help foreign entrepreneurs who want to open companies here.

The Central Bank to encourage MSMEs in Indonesia to produce high-quality goods

Micro, small and medium-sized enterprises (MSMEs) are currently the engine of the Indonesian economy which is why the government has paid more attention to them in the last few years. In 2018, the Central Bank has decided to join the government in its efforts and created not one, but three programs to encourage these companies to produce high-quality goods and enter global markets.

One of the industries targeted by the National Bank is textiles, given that Indonesia is known for the skilled, yet cheaper labor force compared to other similar jurisdictions in the region.

Our company formation agents in Indonesia can help foreign investors who want to open businesses in the textiles sector.

What are the three programs created by the National Bank in Indonesia?

The National Bank has come up with the following programs:

-          the first one will target the improvement of the products’ quality through the participation of known designers;
-          the second program aims at connecting Indonesian companies with exporters;
-          the third program aims at promoting these products to foreign buyers.

The first stage of the program was the opening of an exhibition which has attracted approximately 800 small and medium-sized companies.

MSMEs in Indonesia employ nearly 110 million people and contribute to more than half of the country’s Gross Domestic Product, which is why they are so important for the government. The authorities have started supporting these companies two years ago when a National Strategy for Financial Inclusion was launched.

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