Sandiaga Uno: Jokowi Wants Updated Fintech, Venture Capital Rules



Laila Afifa

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  • TEMPO.CO, JakartaPresident Joko "Jokowi" Widodo called for improvements of several regulations that were no longer up to date, especially those related to financial technology (fintech) and venture capital.

    “So that businesses in tourism and the creative economy sector can develop,” said Tourism and Creative Economy Minister Sandiaga Uno after a meeting at the State Palace, Jakarta, Wednesday, Jan. 6.

    According to the minister, the President expected the ministry to facilitate investment for the tourism sector, such as providing tax holidays or many other forms of incentives. One of them is utilizing the Indonesia Investment Authority which is an investment financing institution that has been recently established by the government.

    Sandiaga recalled Jokowi’s statement that many parties were interested in investing in the tourism sector. “Because the sole funding source of the tourism sector is surely limited, let alone State Budget (APBN),” he said.

    However, Sandiaga Uno stopped short of detailing which policies of the fintech or venture capital that must be revised, underlining that the President asked him to facilitate investment.

    Read: Jokowi Reminds Fintech of Cyber Crime, Personal Data Misuse