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Bali Democracy Forum Xiii As of 271020 BDF Economic Pillar Empowerment of MSMEs for an Inclusive and Sustainable Economic Recovery Bali, 5-6 November 2020 Concept Note Micro, Small, and Medium Enterprises (MSMEs) provide a significant contribution to economic development and play a BALI substantial role in most economies. According to World Bank, SMEs represent about 90% of businesses and more than 50% of DEMOCRACY employment worldwide. In emerging economies, formal SMEs FORUM XIII contribute up to 40% of national income (GDP). Furthermore, 7 out of 10 formal jobs created in emerging markets are generated by SMEs. These numbers are higher when informal MSMEs are included. However, the COVID-19 global pandemic has caused adverse impacts to MSMEs. Travel restrictions and lockdowns have resulted in workers and customers staying indoors and severely disrupted the global supply chain. MSMEs around the world and major part of economic activities have been put under stress. Magnitude and type of impact vary, but in general, tourism, accommodation, transportation, entertainment, personal services, and food-and-beverages businesses are amongst most suffered. Across the globe, MSMEs are finding ways to reshape strategies to survive the crisis, including undergone digital transformation to develop into a more resilient, inclusive and sustainable business. Governments are racing to alleviate the impact of COVID-19 on economics, generating policies, finding solutions to address the pandemic’s spill-overs into financial risk and business implication. This is the underlying cause for the 2020 BDF Economic Pillar, one of three pillars in the Bali Democracy Forum (BDF) XIII. With the theme “Empowerment of MSMEs for an Inclusive and Sustainable Economic Recovery”, the second edition of BDF Economic Pillar aims to provide support for MSMEs in Indonesia and BDF partner countries, in various sectors, including the tourism sector, in order to recover from the pandemic crisis. BDF Economic Pillar will explore the strategies and best practices of MSMEs, covering the viewpoints of decision makers, entrepreneurs, private sectors, and other relevant stakeholders, to understand the real challenges, responses taken, and vision for the road ahead. Speakers from Indonesia and BDF partner countries will share their thoughts in a panel discussion. As of 271020 Considering the dynamic situation of the pandemic, the discussion will use a hybrid format. BDF Economic Pillar will be held on November 6th, 2020 in Bali, Indonesia. Speakers unable to join the discussion directly in Bali will speak through video conference applications. All sessions will be broadcasted live. Bali Democracy Forum Established in 2008 as a platform to create progressive democratic architecture in the Asia Pacific Region, BDF continues to serve as a forum that facilitates dialogue through the sharing of best practices and experiences in managing diversity that encourages equality, mutual understanding, and respect. BDF XIII presents three main pillars to discuss democracy inclusively: Bali Civic Society and Media Forum (BCSMF), Bali Democracy Students Conference (BDSC), and Economic Pillar. Bali Democracy Forum (BDF) XIII will undertake the theme of “Democracy and COVID-19”. At the first BDF Economic Pillar in 2019, an MoU between the Ministry of Foreign Affairs of the Republic of Indonesia and PT Bank Rakyat Indonesia (BRI) was signed to develop MSMEs in developing countries through education and training programs within the framework of South-South cooperation. As the result of the first BDF Economic Pillar, the second BDF Economic Pillar is held to follow up the MoU signed during the first BDF Economic Pillar forum. Our aim is also to ensure how BDF can be relevant and beneficial for all its members. And thus, as a third pillar of BDF, we plan to launch the “Bali Economic Resilience Forum” and be able to have concrete deliverables and programs in future. .
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