VP Ma’ruf Amin: KPPU Must Prioritize Just, Balanced Economic Democracy

Deputy to Cabinet Secretary for Economic Affairs of Cabinet Secretariat Satya Bhakti Parikesit accompanies Vice President Ma’ruf Amin and Chairperson of KPPU M. Afif Hasbullah at the 2023 KPPU Award, at Grand Ballroom Hotel Indonesia Kempinski, Jakarta, Thursday (02/16). (Photo by: PR/Jay)

Vice President Ma’ruf Amin Thursday (02/16) stated that the global economic dynamics and disruptions have made business competition increasingly complex and large industries often benefit from their vast network, market information and consumer preferences through big data analysis.

“The MSMEs does not have such privileges, let alone traditional business, due to limited resources and opportunities,” the Vice President said at the 2023 Business Competition Supervisory Commission (KPPU) Award in Jakarta.

Therefore, Vice President Ma’ruf ordered the KPPU to prioritize just and balanced economic democracy in carrying out business competition policies, especially in optimizing the potential of MSMEs in a healthy and favorable national economic structure.

“As a business competition authority, the KPPU in the future must seek a collaboration formulation that move at two levels, namely vertically—between large and smaller businesses—and horizontally or between businesses at the same level,”he added.

The Vice President also ordered the KPPPU to strengthen synergies with ministries/institutions, regional governments, and related stakeholders, especially in strategic efforts harmonization, more effective MSME partnerships supervision, policies implementation to create more favorable business climate for investment and MSME growths, as well as building competitive business culture and healthy MSME partnerships.

“I also ask policy makers at ministries/institutions and local government level to adopt regulations related to business competition supervision in a simpler, more applicable, and less complicated manner,” he said.

In addition, the regional heads are also expected to ensure business actors’ compliance with the rules and regulations so it would increase investors’ trust.

“This simultaneously safeguards the interests of the state, the people, the market, and business actors in a proportional and accountable manner,” he remarked. (RSF/GUN/SM) (GWH/LW)