Private sector and entrepreneurship

SECO contributes to improving the functioning of local financial markets and to nourishing a competitive body of entrepreneurs. The goal is to increase the partner countries' attractiveness as a business location and to trigger national and foreign investments.

A dynamic private sector buoyed by strong entrepreneurship creates jobs and increases tax revenues. Through the exchange of goods and services, it plays a key role in economic development and in regional and global integration.

SECO therefore works toward improving the business environment for companies in the partner countries and facilitating access to external financing for small and medium-sized enterprises (SME). It also contributes to improving the functioning of local financial markets and generating a competitive body of entrepreneurs. The following business lines seek to increase the partner countries' attractiveness as a business location, triggering both domestic and foreign investments and also to create jobs.

A More Competitive and Job-creating Private Sector

SECO intends to foster inclusive and sustainable economic development by improving the competitiveness of the private sector, resulting in the creation of more and better jobs for both men and women. SECO will continue to engage in sustainable trade and private-sector development with a view to improving the global division of labor, creating jobs in Indonesia and contributing to the reduction of poverty and inequality.  To further stimulate private-sector development, SECO will address the business environment, gaps in SME’s access to finance, and the lack of skilled labour. SECO intends to contribute to the promotion of entrepreneurship, technical and vocational expertise and partnership that will help increase employability as well as improved framework conditions for the labour market and the social partnership so as to help to create new jobs and retain existing jobs.

Training in areas of financial reporting and auditing
© SECO

Here, support is given to lower the costs of doing business and reduce local barriers to investment (by way of adjusting property laws, simplify taxation, etc.) and to make it easier for businesses to access financing.

The SECO’s worldwide engagement