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ANGIN team attended the National Workshop on Inclusive Business, organized by the Coordinating Ministry of Economic Affairs Republic of Indonesia and Asian Development Bank (ADB), on 13 December 2017 at Hotel Borobudur in Jakarta, Indonesia. The theme of the workshop was “Public-Private Sector Dialogue and The Way Forward for Inclusive Business in Indonesia”.
The three main objectives of the workshop were:
- To encourage a public-private dialogue and partnership in promoting Inclusive Business
- To raise awareness on Inclusive Business in Indonesia
- To discuss the next steps that the public and private sectors can undertake to better mobilize their investments for high social impact
A number of interesting speakers from the private sector and public sector shared their ideas and discussed action plans for supporting Inclusive Businesses (IB). IB is “a private sector approach to providing goods, services, and livelihoods on a commercially viable basis, either at scale or scalable, to people at the base of the pyramid by making them part of value chain of companies’ core business as suppliers, distributor, retailers, or customers”(G20, 2011).
Several ministers, such as, Pak Darmin Nasution and Pak Rudiantara, delivered speeches on the role government can play in supporting IB. To promote such business models there needs to be set standards and accreditation from government and relevant associations. Government IB accreditation can act as a stimulus and encouragement to increase private sector participation and therefore, induce private sector job creation and service delivery.
Winfried F. Wicklein, country director ADB, in his keynote speech highlighted the initiatives undertaken by ADB for IB growth in Indonesia and noted that the ADB has been supporting IB since 2014.
Ibu Shinta Kamdani delivered a speech on the importance of SDG goals and Indonesia’s active participation in achieving them. She also highlighted that to achieve SDGs, upstream and downstream industries must be integrated. Ibu Shinta and Pak Timotheus Lesmana then inaugurated the Indonesia IB Institute whose main objectives will be capacity building, to facilitate accreditation for IB, to research IB, to promote collaboration between private and public sector players.
The workshop concluded with 3 main parallel panel session to look at different perspectives and how the three key players – government, investors and businesses – can play their part in growing IB. The main agenda of the panels were:
- Business Panel: to discuss and produce action plans on the IB Institute and IB accreditation
- Government Panel: to discuss and produce action plans on tax incentives and enabling infrastructure
- Investor Panel: to discuss and produce action plans on incubation and investment procedures for inclusive businesses (IB)
ANGIN, together with representatives from East Ventures, ADB, UNOPS, Mandiri Capital, Pinjam, IBAN and Convestro, participated in the panel discussion for investors to discuss investor perspectives and how investors can play a role in growing and supporting inclusive businesses.
Some of the key recommendations from the discussion were to create more risk mitigation instruments to help with more finance flow in supporting such business models. One of the solutions to mitigate risk was to segment the finances or create a blended finance model. Another part of the discussion focused on the importance of the government needing to also explore the costs of growing IBs, for example, the consequences of IB for small hold farmers.
Overall, the workshop provide valuable insights into IB and the roles key players can take to facilitate appropriate expansion of IBs Indonesia.