The creative economy plays an important role in expanding development inclusiveness

This year, the 12th Bali Democracy Forum (BDF) raised the big theme of "Democracy and Inclusiveness" and for the first time held a special dialogue in the field of Business and Economics. This business dialogue carried the theme "Inclusive Economy" and invited participants from the government sector  , private, business associations, international organizations and academics.

The dialogue "Inclusive Economy" also presented 11 (eleven) panelists namely: Deputy for Macroeconomic and Financial Coordination, Ministry of Economic Affairs Republic of Indonesia; Head of the UMKM Development and Consumer Protection Department, KADIN representative, Traveloka, Bukalapak, Genashtim Malaysia CEO, BRI Micro-Finance Center Director, Bank Indonesia representative;  UNDP Resident Representative;  Chancellor of the Indonesian Islamic University (UII) and Gadjah Mada University (UGM).  While the moderator of the dialogue panel was the Secretary General of HIPMI.

"Democracy without meeting economic needs will be difficult to develop," said Iskandar Simorangkir, Deputy Coordinating Ministry for Economic Affairs in the discussion.

Basically, all parties emphasized the importance of an inclusive economy as an effort to fulfill prosperity.  Dialogue in the BDF that takes the theme of inclusive economics is considered appropriate given the turmoil caused by economic imbalances in a number of countries and the decline in global economic growth.

The speakers expressed various challenges and obstacles in the realization of an inclusive economy, including geographical outreach, limited access to education, increasing inequality, and development that tends to be concentrated only in economic centers.

The Inclusive Economy Panel also concludes suggestions for the realization of an inclusive economy. Some of these suggestions are the need for equitable development of infrastructure in non-central economic regions, the use of technology, and increased access to the education system.

The Director of UNDP Indonesia, Christophe Bahuet, said, the creative economy plays an important role in expanding development inclusiveness. The creative economy that continues to be promoted by Indonesia has been welcomed very positively with the passing of a resolution at the UN Assembly Session in New York.

Bagas Adhadirgha, Secretary General of HIPMI as the moderator, concluded that among others the need to build an inclusive economic ecosystem with various parties, both government, private sector, academia and other stakeholders.

This is so that the policies issued can be understood and implemented together.

This business dialogue is expected to be a forum for sharing experiences in implementing inclusive democracy and realizing concrete cooperation in the field of capacity building for developing countries.

As part of concrete efforts to produce outcomes that encourage the strengthening of an inclusive economy, the Indonesian Ministry of Foreign Affairs has signed 3 (three) Memorandums of Understanding with a number of stakeholders.

The Memorandum of Understanding included cooperation with PT. Bank Rakyat Indonesia (BRI) for the empowerment and capacity building of micro, small and medium enterprises (MSMEs) in Indonesia and the Pacific region.

In addition, the Indonesian Ministry of Foreign Affairs has also signed a memorandum of understanding with UGM and UII aimed at increasing cooperation in the fields of education, research and community empowerment, among others through scholarships.