MSMEs Expected to Propel Indonesian Economy to World's Top 5

Summary

Sinarmas board member Franky Oesman Widjaja reminded the importance of micro, small and medium enterprises (MSMEs) in the Indonesian economy. He believes that Indonesia can become one of the five countries with the largest economies in the world, especially if its MSMEs run well. Based on a report by the International Monetary Fund (IMF) in October, Indonesia's Gross Domestic Product (GDP), referring to the 2022 purchasing power parity (PPP), was US$4.02 trillion. As a result, Indonesia is now ranked seventh in the world, leapfrogging the UK and France.

"In 2045, or 100 years after Indonesia's independence, our economy can be at least number five in the world. Around the globe, MSMEs are the foundation," he said in a short conversation with Katadata.co.id on the sidelines of the B20 Summit in Nusa Dua, Bali. According to him, business players will fully support President Joko Widodo's "Inclusive Partnership Movement for MSMEs to Upgrade Class" on Oct 3.

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