The Bank of Indonesia has released a report on the growth of Papua New Guinea's SMEs

[ASEAN NOW Content Team]

 

According to reports, 100 MSMEs (micro, small, and medium enterprises) took part in the Jayapura coffee festival, which coincided with the National Games and was organised by the Bank Indonesia regional office in Papua (PON).

Small companies sold culinary products, accessories, fashion products, and other items at the festival, according to Bank Indonesia Papua Chief Naek Tigor Sinaga on Monday.
MSMEs in Papua provide 63 percent of the local economy, according to Bank Indonesia figures.

 

“The festival begins on Sunday in support of Papua's 20th PON,” Naek stated on October 4, according to Antaranews.

 

At least 400 MSMEs are participating in the National Games, promoting items that are distinctive to Papua New Guinea.

 

The number of merchants has increased from 31 thousand in 2020 to 75 thousand this year, thanks to Bank Indonesia, the banking industry, and payment system service providers.
Eighty-five percent of them are in Jayapura city, Jayapura regency, Mimika regency, and Merauke regency, which are all part of the PON event.