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Internationalization of Indonesian SMEs: The role of Indonesian missions

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Small and Medium Enterprises (SMEs) are crucial for Indonesia's national economy. They contribute significantly to GDP and provide jobs to the majority of the labor force. The Indonesian government has implemented various programs to support SMEs, covering financing, tax subsidies, credit guarantees, and direct cash assistance. This focus on SMEs mirrors a global trend, where these businesses play a vital role in economic growth and employment.

Globalization offers opportunities for SMEs but also exposes them to international competition. The government's role in bolstering their global competitiveness is pivotal. Studies show a connection between SME performance, competitiveness, and internationalization. Although SMEs are recognized as the engine of Indonesian economic growth, their contribution to exports is relatively low compared to other Asian countries due to difficulties in meeting international standards.

Recognizing the importance of SMEs, the Indonesian government and stakeholders are providing facilitation and incentives for their internationalization. Various ministries and institutions offer support, including financing, capacity building, and access to global markets.

This paper intends to analyze the challenges in the internationalization of Indonesian SMEs and the role of the Ministry of Foreign Affairs including Indonesian Missions in overcoming these challenges. Economic diplomacy has become a key focus, with the Ministry of Foreign Affairs aiming to strengthen economic cooperation with main partners and tap into potential markets. The success of this strategy is essential for Indonesia's SMEs to thrive in the global economy.

The Indonesian Ministry of Foreign Affairs plays pivotal role in providing access and opening network for SMEs in global market. Economic diplomacy is an essential instrument for internationalization of Indonesian SMEs. Channelling those entrepreneurs to reliable partners and potential buyers as well as investors is essential task of Indonesian Missions. Strengthening the networking role of Indonesian Missions is pivotal.

Indonesian Ministry of Foreign Affairs could bridge the sporadic and sectoral approach that have been implemented by multiple stakeholders by integrating actions through platform that could be accessed by SMEs or stakeholders to retrieve information as well as facilitation from Indonesian Missions for particular country or region that become their targeted market.

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Ketersediaan

2023-0036

Sesparlu 73-2023

Training Materials Repository

Tersedia

Informasi Detail

Judul Seri

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No. Panggil

Sesparlu 73-2023

Penerbit

Jakarta : Kementerian Luar Negeri., 2023

Deskripsi Fisik

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Bahasa

English

ISBN/ISSN

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Klasifikasi

NONE

Tipe Isi

text

Tipe Media

computer

Tipe Pembawa

online resource

Edisi

-

Subjek

-

Info Detail Spesifik

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Pernyataan Tanggungjawab

UPT Sekolah Staf dan Pimpinan Luar Negeri

Versi lain/terkait

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