Digital and financial technology will play an important role, so that close cooperation is needed.
Beijing (ANTARA) - Indonesia's Ambassador to China Djauhari Oratmangun was quite generous in offering vital tips to Chinese investors keen on investing in the financial technology sector in Indonesia.

"There are two tips for investment to be successful in Indonesia," Oratmangun stated here on Monday.

The ambassador divulged the first key tip pertaining to the importance of investors understanding the difference between China and Indonesia to become more adaptable.

"Second, buy batik as a mark of appreciation for the local culture," the former Indonesian ambassador to Russia noted.

Related news: Chinese investors invited to invest in Indonesia

Oratmangun was earlier an attendee at the Indonesia-China cooperation meeting in the field of technology and digital economy held by Momentum Works in Shanghai.

The ambassador had put forth a recommendation for Chinese technologists and investors to continue to make innovations, invest in digital infrastructure, and partake in Islamic banking and finance that had yet to be fully exploited in Indonesia.

"Digital and financial technology will play an important role for which close cooperation is deemed necessary," he stated.

With an estimated population of 270 million and per capita income surpassing US$4,000, Oratmangun quoted the Indonesia Fintech MW 2019 data that national banking penetration had reached just 50 percent, while credit card ownership was below five percent.

This demonstrates that the financial technology market in Indonesia is still wide open.

"Gojek has built GoPay as one of the main financial technology players in Indonesia, as well as OVO," he pointed out.

Some 150 investors and industry practitioners, including 40 Indonesian textile companies, attended the meeting. Related news: Chinese investors keen to manage N Sulawesi's geothermal sources

Related news: Indonesia offers Chinese investors to invest in three industrial estates



Translator: M. Irfan Ilmie/Bambang Purwant
Editor: Fardah Assegaf
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