Trade Minister Expects Indonesia Retail Summit 2022 to Stimulate MSMEs and Spur Growth

JAKARTADAILY.ID – Trade Minister Zulkifli Hasan said the retail sector in Indonesia contributed significantly to pushing the recovery of household consumption, the main driver of the country's economic growth.

At the ceremonial launching of the Indonesia Retail Summit 2022 at the ministry's headquarter in Jakarta, Zulkifli said the government will help the growth of the retail industry, by making sure that shopping centers gradually recover after the Covid-19 pandemic eased. 

Henky Manurung, the Deputy Minister for Industry and Investment at the Ministry of Tourism and Creative Economy, and Budihardjo Iduansjah, the Chairman of the Association of Indonesian Shopping Center Retailers and Tenants (Hippindo), attended the ceremony.

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"One of the key drivers of Indonesia's economic growth is household consumption, which contributes 53.65 percent to the Gross Domestic Products. It grew 4.34 percent in the first quarter of 2022," Minister Zulkifli said in a statement sent to JakartaDaily.id on Thursday, July 14, 2022.

The summit, which invites Hippindo members that are involved in the retail, culinary and leisure services, is held to celebrate so-called Indonesia's Discount Shopping Day 2022 and Modern Retail Day 2022.

"I hope this event can help increase the domestic consumption and create bigger opportunities for the development of Micro and Small Medium Enterprises (MSMEs) [...] This event is also expected to draw foreign tourists and introduce Indonesia's culture," he said. 

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The minister, known by his nickname Zulhas, said this event offers opportunities for various products, including foods and beverages, handicrafts and fashion to be showcased for both domestic and potential international consumers.

Budiharjdo said the peak of the Indonesia Retail Summit is to be held on August 15-16 and will take place at Sarinah, a historical shopping center for both Indonesia and Southeast Asia.