Indonesia's Digital Economy in 2018 Largest in Southeast Asia

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Markus Wisnu Murti

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  • President Joko Widodo delivers a speech in the commemoration of the National Press Day (HPN) in Surabaya, East Java, Saturday, February 9, 2019. The 2019 HPN is themed The Press Boosts Digital-based People's Economy. ANTARA/Zabur Karuru

    President Joko Widodo delivers a speech in the commemoration of the National Press Day (HPN) in Surabaya, East Java, Saturday, February 9, 2019. The 2019 HPN is themed The Press Boosts Digital-based People's Economy. ANTARA/Zabur Karuru

    TEMPO.CO, JakartaThe government through its Consulate General of the Republic of Indonesia (KJRI) in San Francisco is exploring investment opportunities in digital economy and the development of The 10 New Bali at the 2019 Indonesia-San Francisco Business Forum. The event was attended by dozens of venture capital companies, information technology firms, and chambers of commerce.

    “This business forum is held to bring Indonesia closer to business players and people in North California,” said the acting Consul General of Indonesia in San Francisco, Hanggiro Setiabudi, as quoted from a press release of KJRI San Francisco, Friday, February 21.

    Hanggiro said the forum especially invited investors in the region to invest in potential sectors for international investors in a bid to promote the present Indonesian economy development, particularly in digital economy and tourism destination. 

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    According to Rahardjo Siswohartono, an official from the Indonesia Investment Promotion Center (IIPC) of New York, the digital economy of Indonesia in 2018 grew rapidly into the largest in Southeast Asia with an estimated value of US$27 billion. 

    Google and Temasek, he mentioned, estimated the value of the country’s digital economy would grow up to US$100 billion within 10 years.

    Rahardjo said this potential was supported by the government through its 14th economic policy package that eased and expanded the access to the funding of tech startups, tax incentives, consumer security, and human resources education. 

    Rahardjo also invited investors to the Regional Investment Forum (RIF) on March 11 in Banten. “To directly meet stakeholders in the digital economy sector and explore possible partnerships with scores of developers of tech startups and tourism projects,” he added.

    TAUFIQ SIDDIQ