ASEAN KEY DESTINATIONS
Ministry targets entrepreneurship rate to hit 4% this year
Indonesia: Cooperatives and Small and Medium Enterprises Minister Anak Agung Gede Ngurah Puspayoga has set a target of a 4 percent national entrepreneurship rate by the end of this year.
The figure is an increase from 3.1 percent last year, which is itself a rise from 1.67 percent in 2015.
Puspayoga said Tuesday that he was upbeat about meeting the goal because efforts made in the past two years had led to a significant surge in the ratio of local entrepreneurs to the total population.
Furthermore, the latest figure exceeded the minimum ratio of 2 percent relative to the population that a country ideally achieved, he added.
“We want it [the ratio] to be at least equal with Malaysia, which has a figure of 5 percent. The figure should not as high as in Japan or the United States, where it stands above 10 percent,” Puspayoga said in a statement as quoted by kompas.com.
(Read also: Successful entrepreneurs must be tech-savvy: Jokowi)
The emergence of new entrepreneurs is considered essential to address unemployment, which rises as a workforce grows faster than job opportunities.
The achievement of the higher entrepreneurship rate target, Puspayoga said, would require solid cooperation from various stakeholders, namely the central and regional governments, state-owned enterprises, universities and students.
“Students and universities are a potential target to nurture entrepreneurship. We visit universities to help raise the ratio,” he said.
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