BI Governor: E-commerce Transaction to Reach Rp530 Tn in 2022

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  • Governor of Bank Indonesia Perry Warjiyo delivers a presentation at the Digital Transformation For Indonesian Economy event at the Kempinski Hotel, Jakarta, Wednesday, March 11, 2020. TEMPO holds a discussion entitled Digital Transformation for Indonesian Economy themed Finding The New Business Models. TEMPO/M Taufan Rengganis

    Governor of Bank Indonesia Perry Warjiyo delivers a presentation at the Digital Transformation For Indonesian Economy event at the Kempinski Hotel, Jakarta, Wednesday, March 11, 2020. TEMPO holds a discussion entitled Digital Transformation for Indonesian Economy themed Finding The New Business Models. TEMPO/M Taufan Rengganis

    TEMPO.CO, Jakarta - Bank Indonesia (BI) Governor Perry Warjiyo predicted that e-commerce transaction in Indonesia will rise to Rp530 trillion in 2022, from previously predicted at Rp403 trillion in 2021.

    "We grow faster than expected and this is a massive market," said the BI Governor Perry Warjiyo in 3rd Indonesia Fintech Summit 2021 in Jakarta, Saturday, December 11.

    He, therefore, views that there are four aspects that must accelerated to benefit from the huge potential of the digital economy.

    First, physical infrastructure for transportation and logistic to support the digital infrastructure, so it may penetrate to the deepest corners of Indonesia.

    "I do appreacite the investment in the digital infrastructure, but indeed the physical connectivity is also important, as well as the imporvement in logistic access," said Perry.

    Secondly, he went on, the acceleration in the digital ecosystem completion that consists of the digital banking, the financial technology (fintech) industry, and the e-commerce that are inseparable. Next is the reform in banking payment system.

    Lastly, the public digital literacy. This is highly important, said Perry Warjiyo, especially because the public can become more aware of digital financial products and risks, as well as on how to use them, so it can be an advantage for the domestic economy while still prioritizing public safety.

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