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Foreign investors to be required to partner local MSMEs, says Investment Coordinating Board

14 July 2020 12:20

JAKARTA - The Investment Coordinating Board (ICB) will require foreign investors and Indonesian companies with large investment values to partner MSMEs, said ICB Head Bahlil Lahadalia.

“One of ICB’s key performance indicators is how foreign investors or major Indonesian investors partner local entrepreneurs or MSMEs,” Mr Lahadalia said in a webinar held by the Institute for Development of Economics and Finance (Indef) on Monday (13/7) as quoted from CNN Indonesia.

“If investors refuse to partner [local MSMEs], I will not grant them a permit, because it is an important task we all need to do.”

However, Mr Lahadalia said local MSMEs that partner investors need to meet a number of criteria, including professionalism in their fields. According to him, empowering MSMEs and local entrepreneurs is one of the most important strategies to create regional jobs. (MS)

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