Indonesia bolsters financing for agriculture, fisheries enterprises

Indonesia's Ministry of Micro, Small, and Medium Enterprises (MSMEs) is seeking to strengthen financing for MSMEs in the agriculture and fishery sectors to support food self-sufficiency.

Indonesia's Ministry of Micro, Small, and Medium Enterprises (MSMEs) is seeking to strengthen financing for MSMEs in the agriculture and fishery sectors to support food self-sufficiency.

MSMEs Deputy Minister Helvi Yuna Moraza said that Indonesia currently has more than 29 million MSMEs in the agriculture sector, which serve as the main force in tackling food security challenges in the future.

Of the figure, 99% are individual businesses, reflecting that this sector is the backbone of national food security, he remarked.

13075686-e8b0-43b4-90e3-f8c3cf55c2bd.jpg
MSMEs Deputy Minister Helvi Yuna Moraza in a coordination meeting on food in Makassar, South Sulawesi, on Friday (January 17, 2025). ANTARA/HO-Humas Kemen UMKM

However, the official pointed out that the food sector continues to face major challenges, such as the low financial inclusion index among farmers and fishermen, which is currently at 62.26%. Moreover, farmer regeneration is a crucial issue, considering that 64.2% of workers in the agriculture sector are above 45 years of age.

To tackle the challenges, the Indonesian Government continues to bolster inclusive financing policies for MSMEs, especially those in the food sector, he said.

Moraza noted that in 2024, Indonesia disbursed 282 trillion Rp (around 17.19 billion USD) financing under the low-interest-rate People's Business Credit (KUR) programme, higher than the 260 trillion Rp in 2023.

The Indonesian Government is also boosting the business cluster-based KUR and KUR for agricultural tools and machinery as strategic steps to boost productivity in the agriculture sector.

These programmes are aimed at boosting real economic growth, increasing the added value of local products, and reducing dependence on the trade sector, he added./.

World

Thailand aims to become ASEAN's clean energy hub
World

Thailand aims to become ASEAN's clean energy hub

BoI Secretary-General Narit Therdsteerasukdi revealed that there are currently 28 electric vehicle production projects by 22 companies in Thailand, with a total investment of approximately 78 billion THB and a combined production capacity of over 880,000 units.

Indonesia seeks new markets for palm oil
World

Indonesia seeks new markets for palm oil

Indonesia is the world's biggest producer of the edible oil used in making foods such as cakes, chocolate, and margarine as well as cosmetics, soap and shampoo, accounting for more than half of the global supply.

Thailand optimistic about tourism and spending during Songkran festival
World

Thailand optimistic about tourism and spending during Songkran festival

Deputy government spokesman Anukul Prueksanusak has cited findings from a recent consumer behaviour survey conducted by the University of the Thai Chamber of Commerce, which said spending during Songkran is projected to increase by 4.5% to 134 billion THB (3.8 billion USD), up from last year’s 129 billion THB

Thailand to negotiate with US on tariffs
World

Thailand to negotiate with US on tariffs

Thailand is on the list of 15 countries that could be affected by Trump’s tariff policy. The average US tariff on Thai imports is 2% while Thailand levies an average tariff of 8% on US products

Thailand revises tourism strategy after earthquake
World

Thailand revises tourism strategy after earthquake

Minister of Tourism and Sports Sorawong Thienthong said that a tourism risk and crisis management team will be established to support the industry, with representatives from organisations in the tourism supply chain, such as the Ministry of Home Affairs and the Roads Authority.