Coordinating Ministry for Economic Affairs Views Intellectual Property as Future Economic Growth Source
The Coordinating Ministry for Economic Affairs considers intellectual property (IP) to be one of the future sources of Indonesia’s economic growth.
Deputy for Energy and Mineral Resources Coordination at the Coordinating Ministry for Economic Affairs, Elen Setiadi, sees the economic potential of intellectual property as very significant.
“To that end, the Coordinating Ministry for Economic Affairs has agreed to provide support on the financing side, one of which is through People’s Business Credit (KUR) financing, where collateral can now be provided simply with an intellectual property certificate,” Elen said at a press conference in Jakarta on Wednesday.
He added that any member of the public holding an intellectual property certificate can now apply for KUR at a participating bank.
He said that whatever the value of the application, an assessment will be carried out by the authorised body, and the Coordinating Ministry for Economic Affairs will provide assistance if there are any obstacles.
For the first phase of KUR distribution, Elen said his ministry has agreed with the Minister of Law to allocate funds amounting to Rp10 trillion.
He added that the allocation will be increased in line with developments and needs, as well as the distribution carried out by participating banks.
He stressed that the Coordinating Ministry for Economic Affairs will continue to support efforts to ensure that the economic potential of intellectual property can truly be utilised as a fundamental pillar of the economy going forward, towards a sovereign, just and prosperous Indonesia.
On the same occasion, Minister for National Development Planning/Head of the National Development Planning Agency (Bappenas) Rachmat Pambudy appreciated the milestone achieved by the Minister of Law in making intellectual property rights part of the national development plan.
He assessed that the National Intellectual Property Master Plan for 2027-2036 will be the first step towards looking ahead at the economy and preparing for a future in which intellectual property created by Indonesian citizens must be protected and safeguarded.
“This concept will be developed jointly by the Ministry of National Development Planning, the Ministry of Law, and relevant ministries and institutions in Indonesia,” Rachmat said.
Meanwhile, Minister of Law Supratman Andi Agtas expressed hope that the National Intellectual Property Master Plan for 2027-2036 could become a National Strategic Project (PSN).
The government is drafting the National Intellectual Property Master Plan for 2027-2036 as a national policy direction for building Indonesia’s IP ecosystem over the next 10 years.
The document will serve as a reference for aligning policies, programmes and targets across ministries and institutions in order to strengthen national intellectual property development.