Yogyakarta Opens Jogja Brand and Business Awards 2026, Championing Value-Based Business

The Jogja Brand and Business Awards (JBBA) 2026 officially commenced on Wednesday, July 15, 2026, in Sleman, Yogyakarta, marking the start of an annual event celebrating business excellence. The opening ceremony was symbolically inaugurated with the striking of a gong by the Governor of the Special Region of Yogyakarta, Sri Sultan Hamengku Buwono X, alongside Arif Budisusilo, President Director of Harian Jogja.

In his keynote address, Sri Sultan HB X underscored the critical need for businesses to build operations based on value and trust within the contemporary economic landscape. He introduced the Javanese philosophy 'Tunâ Satak, Bathi Sanak,' which translates to willingly accepting minor material losses to gain significant benefits in the form of strong relationships. According to the Sultan, this principle transcends mere accounting calculations, serving as a cornerstone for enduring partnerships in business by prioritizing human connections above economic transactions.

This philosophy, he explained, echoes the historical Javanese concept of 'penglaris,' which relied on cultivating deep customer trust to ensure repeat business and maintain a vibrant, sustainable market ecosystem. "Trading with heart, not chasing market share, but heart share," the Sultan stated directly, emphasizing a focus on emotional connection over market dominance.

Sri Sultan further asserted that these traditional values remain highly relevant amidst rapid global digitalization. He advocated for the philosophy of 'Hamemayu Hayuning Bawana' (striving for the world's well-being) as a guide for adopting new technologies, including digital finance. Progress, he argued, must be measured ethically, ensuring it benefits society broadly rather than enriching a select few. He sees modern financial technology as a contemporary manifestation of 'Tunâ Satak, Bathi Sanak,' evident in digital discounts and expanded market access for small businesses, albeit executed through advanced algorithms and QRIS systems instead of direct smiles and price cuts.

The governor also highlighted that the development of Micro, Small, and Medium Enterprises (UMKM) in Yogyakarta is increasingly guided by the 'Local Value for Money' paradigm, positioning them as the primary economic drivers of the region.

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Trading with heart, not chasing market share, but heart share.