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12th WIEF concludes in Indonesia with high hopes pinned on SMEs empowerment

Xinhua, August 4, 2016 Adjust font size:

Indonesian Finance Minister Sri Mulyani Indrawati closed on Thursday the 3-day international business forum of 12th World Islamic Economic Forum (WIEF), hoping that the event would further boost the empowerment of Small-Middle Enterprises (SMEs) sector which would eventually spur economy growth of participating countries.

Speaking at a joint press conference to close down the event attended by more than 400 business people from over 60 countries, Sri expected that the forum creates and facilitates the emergence of small-scaled new players in the economy.

"This forum was expected to produce many new ideas, initiate efficiencies and opportunities for those involved in the businesses to further improve their competitiveness and understanding on the businesses they are working in," Sri said with WIEF Foundation Chairman Tun Musa Hitam at presence.

The 12th WIEF was opened on Tuesday by President Joko Widodo and attended by Malaysian Prime Minister Najib Razak, Tajikistan President Emomali Rahmon, Guinea President Alpha Conde and Sri Lankan Prime Minister Ranil Shriyan Wickemenshinghe.

Besides Indonesia, delegates attending the event among others came from Malaysia, the United States, the United Kingdom, Italy, Kenya, Ethiopia, Switzerland, United Arab Emirates, Sweden, South Arica, Spain and Australia.

Sri said the SMEs have pivotal role to boost economic growth and job opportunities among the people as well.

To address the inclusiveness in the economy, she said that alignment between SMEs and established firms was necessary so as to make each party complement to the other and contribute to the respective country's economy.

Since the opening of the forum, participants have performed their creative works, resulted in a number of business agreements and MoU signings.

Attendants at the business forum initiated by the Malaysia-based foundation discussed ways to enhance business potentialities in fashion, infrastructure, technology and innovation and halal industries.

The host country has the world's largest Muslim community that provides great potential for Muslim-themed market in the world.

Indonesian government has paid particular attention to further developing the SMEs sector in the country. Enditem