Otoritas Jasa Keuangan, Jakarta, May 2ND, 2016. Indonesia Financial Services Authority (OJK) and Organization for Economic Cooperation and Development (OECD) will carry out an OJK-OECD/International Network on Financial Education (INFE) High-Level Regional Symposium on Empowering of Micro, Small and Medium Enterprises (MSMEs) through Financial Literacy and Inclusion on 1 - 2 June 2016 in Jakarta (the "Regional Symposium"). This event is in line with the declaration of G20 leaders in Mexico in June 2012 and reinforced by the subsequent declaration in Russia in September 2013 which underlined the importance roles of MSMEs sector in enhancing economic growth, creating job opportunities, and alleviating poverty.
The contribution of MSMEs sector in Indonesia has been proved highly significant in national economy with a 60% share of GDP and absorbed 97% of the national workforce. The importance of MSMEs sector in supporting the country's economic growth requires the empowerment of MSMEs' capacity. The coverage of MSMEs empowerment includes improving the ability of MSMEs on financial planning as well as on expanding MSMEs access to financial sector.
The agenda of empowering MSMEs is in line with the government's program to continuously enhance the so called "civilization economy". The concrete implementation of the civilization economy program which is conducted by the government is to promote the economy program of a collaborative action for civilization economy which is called "Sinergi Aksi untuk Ekonomi Rakyat". This program has been launched by President Jokowi on 11 April 2016 in a rural area at Desa Larangan Brebes, Central Java.
OJK has conducted various programs to improve MSMEs capacity and empowerment through financial literacy and inclusion programs, among others financial education for MSMEs in several cities in Indonesia and also providing education materials of entrepreneurship. Furthermore, to advance its financial access, OJK has also initiated affordable products for MSMEs, such as the development of mobile application "Yuk Sikapi" especially for start-up MSMEs, the expansion of financial services network through "Laku Pandai", the development of micro insurance, micro mutual funds of "Reksa Dana 100 Ribu", and the program of "JARING" (Jangkau, Sinergi, dan Guideline) to maritime sectors.
OECD/INFE is a global forum since 2008 consisting a member 245 public institutions from 114 countries with great concern about financial education and inclusion. One of the OECD/INFE initiatives is to encourage the improvement of financial literacy and inclusion for MSMEs, where OJK is also the member of Financial Education for MSMEs dan Core Competencies on Financial Literacy in developing innovative programs in to address challenges and barriers experienced by MSME sector.
The Regional Symposium which is held by OJK and OCED/INFE will be participated by financial regulators, financial services supervisor, financial services industry, MSMEs, academician, MSMEs observers and supporters in the Southeast Asia region.
From this Regional Symposium regional, it is expected that numerous recommendations, strategies, and best practices from experts from various countries can be sought and implemented to support the improvement of MSMEs capacity and empowerment in Indonesia.
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