- VIVA/Anisa Aulia
VIVA – The G20 Indonesia presidency through the G20 Global Partnership for Financial Inclusion (GPFI) High-Level Symposium encourages the acceleration of financial inclusion of Medium, Small, and Micro Enterprises (MSMEs) or local people know as UMKM through digitalization.
"Digitalization is important to improve a more productive, inclusive and sustainable economy for MSMEs," Minister of Finance, Sri Mulyani Indrawati remarked on Thursday, October 6, 2022.
The use of digitalization has an important role in creating greater economic opportunities and promoting more inclusive and sustainable growth by spurring innovation and increasing access to financial services.
Efforts to empower MSMEs are important for the economy. MSME development requires a holistic approach which in the ecosystem includes six aspects, namely policies, access to finance, markets, human resource capacity, mentoring, and culture.
Digitalization plays an important role in combining these six components and further accelerating MSME development programs. For the community or consumers, it also provides many benefits through access to MSME products and access to financial services by reducing transaction costs.
Ilustrasi UMKM.
Sri Mulyani conveyed that to develop the MSME ecosystem and digitization, private sector involvement is needed in the form of fintech, crowdfunding, electronic commerce, mentoring, and expansion of business networks.
Furthermore, the Governor of Bank Indonesia, Perry Warjiyo explained that digitalization has proven to increase financial inclusion, but efforts must be made to increase literacy and consumer protection so that it is more optimal and minimizes risk.
In this case, the G20 Indonesia presidency has also completed deliverables, namely practical guidelines for the implementation of global digital financial inclusion principles and a living database of good practices for mentoring programs and digital financial product innovations from various countries.
Then, complete deliverables from initial public policy references to resolve the challenges of access to digital finance as well as reports on the progress of MSME data harmonization initiatives.
The deliverables are formulated as a Financial Inclusion Framework in Harnessing Digitalization to Increase Productivity, Sustainable and Inclusive Economy of Women, Youth, and MSMEs.
