G20: Enlarging Business Opportunities With Appropriate Utilization


    This year’s G20 meeting chaired by Indonesia is still ongoing. Recently, one of the G20 programs being discussed was collaboration and innovation from various Business Twenty (B20) forums. This collaboration and business discussion will be the main key to formulating the right policy. The goal is to build a conducive business climate and realize inclusive economic growth.

    The chairman of Commission VI of the DPR, Faisol Riza, supports the B20 forum as an event to accommodate the business world aspirations so that it can have a significant impact on the economy. “The government must provide opportunities for our entrepreneurs and take part in the meeting,” as quoted, Monday (6/6/2022).

    Faisol added, that at the meeting that took place in February and March 2022 with various B20 task forces, many parties were involved and needed to take part in this year’s G20 moment.

    “I hope that Indonesia can take advantage of this, especially to increase trade agreements between us and the G20 countries and others. In particular, to develop trade volume as well as expand the export surplus, I think,” he explained.

    Faisol also hopes that the B20 and G20 moments can realize the term Penta helix or the involvement of various parties as part of the considerations in formulating relevant policies for corporations.

    Pentahelix is ​​an element of collaboration that combines various parties including academics, business actors, communities, government, and media.

    Furthermore, Chairman of the B20 Task Force “Trade & Investment” Arif Rachmat said that the business world had carried out a collaborative and innovative spirit in helping Micro, Small and Medium Enterprises (MSMEs) to quickly rise and develop.

    This is because MSMEs are part of the backbone of the Indonesian economy and are well recognized by the private sector.

    “Several co-chairs have told of their key success, for example, Unilever or Philip Morris, where they have fostered hundreds of thousands of MSMEs, including women.

    The key to their success is the empowerment of MSMEs carried out by corporations,” said Arif, who was quoted as saying while attending a virtual discussion of Fun Chat: Indonesian Trade and Investment in the framework of B20 and G20 Indonesia 2022.

    Arif emphasized that Indonesia had implemented this positive collaboration several years ago. Indonesia’s momentum as the G20 and B20 presidencies needs to be optimized to share the various keys to success so that Indonesia becomes superior and can be a reference in accelerating recovery after the pandemic.

    MSME empowerment is one of the four main programs of the B20 task force trade & investment as a derivative of the three pillars of the G20 presidency. In the third point of the four programs, it is explained that it is necessary to strengthen inclusive global supply chains, including the empowerment of MSMEs and Women Entrepreneurs.

    The role of corporations, according to Arif, is very much needed to strengthen supply chains for MSMEs so that there is consistent and long-term sustainability.

    This will also be part of the B20 recommendation which is tasked with summarizing inputs and aspirations from all stakeholders, especially from business actors, at the summit of the Indonesian presidency (High-Level Conference or summit) for the B20 and G20 in Bali in November 2022.

    Furthermore, B20 seeks to produce a legacy project that has a significant impact, is implementable, and is also unique to the Indonesian presidency.

    “Well, for the legacy of this task force, what we want to promote is the economic inclusiveness framework,” he concluded.