November 9, 2020, 06.43 PM
Sarinah, Indonesia?s oldest department store in the heart of Jakarta, is currently undergoing its first major renovation since its establishment in 1967. RADITYA HELABUMISarinah, Indonesia?s oldest department store in the heart of Jakarta, is currently undergoing its first major renovation since its establishment in 1967.

JAKARTA, KOMPAS.com – Indonesia’s state-owned department store PT Sarinah (Persero) signed memoranda of understanding (MoU) with two foreign companies in a bid to transform its business and expand its presence in overseas markets.

The two companies are Swiss travel retail group Dufry and Mexico’s Omega.

“I hope Sarinah can also focus on the selection of premium small-medium enterprises products that suit best the interests and market of the world’s duty-free products,” said State-Owned Enterprises Minister Erick Thohir in a statement on Monday, November 9.

Erick called on PT Sarinah to improve its institutional and human resources capacities through the technology scouting and learning process on retail management from Dufry.

Also readIndonesia’s Oldest Store Sarinah to Reopen Next Year

“For the first stage, I give a target of promoting at least 10 best Indonesian products through this cooperation and it is hoped that there will be more opportunities for local products and SMEs to go global,” said Erick.

The minister said the cooperation is one of Sarinah’s strategic steps to transform and expand its products into the global market.

He said through cooperation with strategic partners such as Dufry and the Omega group from Mexico, especially in the retail and travel and leisure sectors, Indonesia will have opportunities to promote its SMEs' products to enter the major leagues of the international market.

The MoU, he added, can also bring several mutually beneficial business opportunities for the companies.

Also readIndonesia Faces Recession as Economy Shrinks 3.49 Percent in Q3

Page:


Comment wisely and responsibly. Comments are entirely the responsibility of the commentator as regulated in the ITE Law
Report
Thank You! We have received your report. We will remove comments that conflict with the Community Guidelines and the ITE Law.

More Headlines

News
May 12, 2022, 07.22 PM

President Joko Widodo Arrives in the US

Travel & Leisure
May 5, 2022, 02.22 PM

Indonesian Minister Talks on Tourist Village at UN Meet

Close Ads X