RI's Digital Economy Growth Exceeds Singapore's: Luhut Pandjaitan

TEMPO.CO, Jakarta - Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said Monday Indonesia’s digital economy growth was among the highest in ASEAN in 2020. Without disclosing the exact number, the minister said the growth exceeded those of Malaysia and Singapore. 

“Notably Indonesia, our digital economy can still record double digit growth above Malaysia and Singapore,” said Luhut in a learning event with Microsoft on March 8.

He added Indonesia’s position was only slightly under Vietnam, which recorded 16 percent digital economy growth. He attributed this trend to the COVID-19 pandemic that had shifted people’s activities to digital platforms.

Luhut presented data suggesting that the digital gross merchandise value in ASEAN had grown 5 percent to USD 105 billion with startup firms contributing to an ecosystem valuation of USD26.3 billion. 

Luhut Pandjaitan said the government would continue to maintain good relations with domestic and international investors to help grow digital inclusion in Indonesia. The Investment Coordinating Board (BKPM) reported that 2020’s USD3.6 billion foreign investments mainly came from the transportation, the warehouse, and the telecommunication sectors. 

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FRANCISCA CHRISTY ROSANA