TEMPO.CO, Jakarta - Trade Minister Budi Santoso highlighted that Indonesia's entrepreneurship ratio remains lower than that of its regional neighbors, including Malaysia, Thailand, and Singapore. This ratio is a key indicator of a nation's economic development.

According to Budi Santoso, the entrepreneurship ratios in Malaysia and Thailand have exceeded 4 percent, while Singapore has an impressive 8.6 percent. In contrast, Indonesia's ratio stands at only 3.4 percent.

"Our entrepreneurship ratio (RI) is still low," said the minister, who is a member of the National Mandate Party (PAN), during the launch of the Gemini Academy at the Trade Ministry office in Jakarta on Friday, February 21, 2025. He emphasized the importance of reaching an entrepreneurship ratio of at least 10 to 12 percent to achieve developed nation status.

When questioned about a target for Indonesia's entrepreneurship ratio post-event, Budi Santoso did not provide a precise figure. He indicated that the focus is on maximizing current efforts, expressing confidence in the growing export capabilities of many Micro, Small, and Medium Enterprises (MSMEs).

He cited the "MSME CAN Export" program, which he initiated, as having yielded tangible results, evidenced by transactions between MSMEs and international buyers. However, he stopped short of sharing specific data.

Kemendag is also committed to facilitating at least one pitching event per month in each partner country. Budi Santoso explained that these events provide MSMEs with platforms to showcase their products to trade attaches, who then assist in identifying potential buyers. These pitching sessions are conducted across 33 partner countries. "This month, we already have 40 pitching sessions," he said.

Trade attaches play a crucial role in connecting MSMEs with buyers. Following buyer identification, business matching sessions are organized to allow MSMEs to introduce their products directly to potential clients, with facilitation provided by trade representatives.

Budi Santoso also reported that in January, 42 pitching sessions and 32 business matching sessions were conducted, resulting in trade contracts valued at US$5.2 million. "It's all done through Zoom, so there's no need to meet in person, and they trust us," he noted.

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