REPUBLIKA.CO.ID, JAKARTA -- The micro, small, and medium enterprises (SMEs) in Indonesia have the greatest potential to be developed into future businesses, Chairman of the World Islamic Economic Forum (WIEF) Tun Musa Hitam stated.
"Some 60 million SMEs are the backbone of the national economy. The SMEs have contributed to the gross domestic product significantly. There is a need to discover businesses and technologies focused on SMEs," Musa stated in a speech at the opening of the WIEF here on Tuesday.
Taking into account the current global economic conditions, Musa noted, the development of businesses should be supported by innovations in the field of information technology.
"While implementing the government's growth strategy, the head of state tends to focus on developing big cities that facilitate the flow of investments. As a result, the local people migrate from their villages to big cities. The infrastructure in villages is now lagging behind," Musa remarked.
He stated that SMEs could help encourage decentralized growth in which more parties will become involved in economic development.
"SMEs should be empowered to support the decentralization of growth," he affirmed.
Indonesia is holding the 12th WIEF at the Jakarta Convention Center from Aug. 2 to 4.
Some 2.5 thousand delegates from over 69 countries across the globe are expected to attend the 12th WIEF.
Global leaders, six ministers, and business speakers are scheduled to attend the event.
The speakers are from various countries, including Indonesia, Malaysia, Singapore, the United States, the United Kingdom, Italy, Kenya, Ethiopia, Switzerland, the United Arab Emirates, Sweden, South Africa, Spain, and Australia.
The event is based on the theme of decentralized growth and empowering future businesses.
Finance, fashion, infrastructure, technological innovations, and the halal industry, which includes products and tourism, are the five components that constitute the sub-themes.
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