Trade Minister announce officially Serpong Paramount. Paramount Modern Market, Tangerang. Jakarta, 31 July 2010 as many as 609 small and medium

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1 PRESS RELEASE Head of Public Relation of the Ministry of Trade Jl. M.I Ridwan Rais No. 5, Jakarta Telp: /Fax: Trade Minister announce officially Serpong Paramount Modern Market, Tangerang Jakarta, 31 July 2010 as many as 609 small and medium merchants around Serpong area would occupy Serpong Paramount Modern Market, Tangerang which was announced officially by the Trade Minister of RI, Mari Elka Pangestu, today. Paramount Modern Market was built to create an integrated environment complete with supporting facilities for residences of Gading Serpong in fulfilling their daily needs. The building of traditional markets with modern concept or having the concept of fresh market become a trend followed by the developers of residential areas in big cities and other cities/regencies as well. This modern market, beside of being intended as an effort to decorate cities/regencies, was also provide and facilitate the needs of residential area and the surrounding people in

2 shopping by making market as experiental destination which offered shopping experience called as shopping tourism People need better service in shopping from the aspects of convenience, security, health as well as shopping needs at one complete place, where possible also functioning as recreation place. This modern market becomes an alternative for consumers since it offers more convenience shopping concept with adequate cleanliness, security, facility and infrastructure, strategic location, competitive price and guaranteed good quality, said the Minister. Furthermore, the Minister said that the existence of this modern market would not eliminate the existence of traditional market if such traditional market was managed well both physically and from the market management. Currently, traditional market management was demanded to be responsive on the change of economic situation and consumers taste. The presence of modern market at traditional market will give a benefit for the traditional market itself. Both

3 will be integrated and grow simultaneously as well as mutually beneficial, added the Minister. Samples of traditional markets well integrated with modern markets were Tambahrejo Market in Surabaya, Kelapa Gading Market and Blok M Square in Jakarta, Rapag Market in South Kalimantan, Pasar Baru in Riau, Dumai. In order that traditional markets could grow and develop harmoniously, mutually needed, mutually enhanced as well as mutually beneficial with modern markets, the government in this matter the directorate general of domestic trade, The Trade ministry would keep trying and enhancing the management of traditional markets through physical enforcement and market management by gradual revitalization of traditional markets to become a clean, secure, convenient and fair (BANA) market. The revitalization program on traditional market was intended to eliminate a negative image adhered to traditional market so far, such as low, dirty, unsecured, inconvenience and messy, could be changed into a traditional market which was clean, secured, convenient and fair so it was expected to be competitive with modern markets.

4 Some of the efforts taken among others by the accompaniment for traditional markets in the form of training to grow traditional market merchants on discipline, cleanliness and order. In the context of enhancing access to finance, especially for small and micro levels, including market merchants, the government kept trying and develop People business Credit (KUR) program. Through the KUR, it was expected that merchants could obtain an easy access to business funding. Other effort was by the establishment of market depo to create direct access to goods from producers/manufacturers so the merchants could obtain goods in a relatively short chain of distribution which could make the prices at traditional markets becoming competitive with the prices of similar products at modern markets. To accelerate the revitalization process on traditional markets it was also needed regional government role. Regional government had a role, among others, of exerting alternative funding sources for empowering traditional markets, improving merchants and traditional market management s competency; prioritizing the chance to get business place for traditional market merchants already having a place before the renovation or relocation; empowering shopping centers and modern

5 markets in nurturing traditional market; and evaluating the management of traditional markets. The Trade Minister hoped that Banten provincial government could encourage the building of traditional markets with this modern concept, not only at elite residences, but also at low and medium class residences. We hope that the Board of Directors of Paramount Serpong keep the management of this market well and keep giving their attention and nurturing for UKM around it to undertake at this location, said the Trade minister. At the same time with market official announcement, it was displayed UKM products to activate more the partnership program between small and medium enterprises with big companies, by giving a change to promote the leading and creative products of local UKM, as well as the marketing of simple oil Minyakita coordinated by the Association of food oil Indonesia (AIMI). --The end For further information, please communicate with:

6 Robert James Bintaryo Head of Public Relation of the Ministry of Trade Phone/Fax: / Jimmy Bella Director for Market and Distribution Nurturing Directorate General of Domestic Trade of the Ministry of Trade Phone/Fax: /