The Representative Office of Bank Indonesia (BI) Bali emphasized the importance of green economy principles in boosting the performance of MSME actors in Bali.
MSME are encouraged to implement innovations and green economy practices to increase their competitiveness at the national and international levels.
The Head of BI Bali Representative, Erwin Soeriadimadja, explained that MSME actors have a very important role in Bali’s economic recovery.
Bali managed to achieve economic growth of 5.43% in the third quarter of 2024, an achievement higher than national economic growth which is still in the process of recovering after the impact of the pandemic.
Antara Bali reports, Erwin added that Balinese MSMEs must also take part in producing environmentally friendly products. By applying green economic principles, MSMEs can take advantage of great opportunities to increase competitiveness.
The growing green economy in the world is predicted to become a trend in the future, and MSMEs in Bali need to pay close attention to this opportunity to support regional economic growth.
Meanwhile, the Head of BI’s Inclusive and Green Financial Economics Department, Anastuty K, conveyed several Bank Indonesia policies in developing MSMEs.
In addition to supporting MSMEs to focus on exports, the food sector, and digitalization, Bank Indonesia also encourages the development of green MSMEs.
Green MSMEs are not only related to the use of environmentally friendly raw materials, but also include waste management. Anastuty revealed that MSME entrepreneurs can process waste into value-added products that can be produced independently or in collaboration with other MSMEs.
Furthermore, MSMEs can also contribute to sustainability aspects, such as the empowerment of women, people with disabilities, and low-income communities.
With the MSME development program facilitated by Bank Indonesia, it is hoped that MSME entrepreneurs can “upgrade their level,” improve the quality of their business, and remain environmentally responsible. Bank Indonesia hopes that MSMEs can play a role in supporting a sustainable economy.
Radarbali reports, in addition, BI Bali encourages MSME capacity building in various sectors, such as fashion, food, and beverages. Bank Indonesia also held a competition for its fostered MSMEs to encourage green economy innovation.
The culmination of this competition will be held in June 2025. With these various programs, Bank Indonesia hopes that MSMEs in Bali can take advantage of the potential of the green economy, adapt to global economic developments, and continue to grow in facing future challenges.
Through the implementation of the green economy, it is hoped that Balinese MSMEs can not only increase their competitiveness but also contribute to environmental sustainability and a better regional economy in the future.
Sources: Antara News, Radar Bali
images: via CMGAssets
