Indonesia to have advanced economy with more entrepreneurs: VP

Indonesia to have advanced economy with more entrepreneurs: VP

Vice President Ma'ruf Amin during a general lecture at the Introduction to Campus Life for New Students (PKKMB) of Universitas Nahdlatul Ulama (UNU) Blitar via video conference, Saturday, September 25, 2021. (ANTARA/Vice President Press Bureau/rst)

We have learnt an important lesson that innovation, digital technology, and an entrepreneurial passion will multiply productivity and competitiveness
Jakarta (ANTARA) - A country's economy can be labelled as being advanced if business actors constitute 10 percent of the nation's population, according to Vice President Ma'ruf Amin.

"In addition to research and innovation, the economy in developed countries is also supported by many entrepreneurs, with a ratio of 10 percent or more out of the total population," Amin noted at the Introduction to Campus Life for New Students (PKKMB) of Universitas Nahdlatul Ulama (UNU) Blitar held via video conference, Saturday.

Referring to the 2018 Entrepreneurship Global Index, Amin stated that the number of business actors in Indonesia was still relatively low, at only 3.1 percent, as compared to the total population.

"The number of Indonesian entrepreneurs constitutes only 3.1 percent of the total population, or about 8.06 million people," he remarked.


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This percentage places Indonesia below several countries in the Southeast Asian region, such as Singapore, at seven percent; Malaysia, six percent; and Thailand, five percent.

Hence, the vice president has encouraged Indonesia's millennials to start pioneering entrepreneurship, creatively and technologically.

The vice president also cited an example of various start-up businesses by young Indonesians, who are able to compete at national and international levels, such as Bukalapak and RuangGuru.

"We have learnt an important lesson that innovation, digital technology, and an entrepreneurial passion will multiply productivity and competitiveness," Amin affirmed.

Meanwhile, at the global level, the vice president cited the example of the technology company Apple Inc. that had managed to clock a valuation of up to US$2 trillion amid the pandemic crisis in August 2020.


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With a valuation of US$2 trillion, the value of Apple's company exceeds the value of the gross domestic product (GDP) of several countries, such as Canada, Brazil, South Korea, Spain, and Australia.

Hence, Vice President Amin has advised all young Indonesians, especially UNU Blitar students, to continue to hone their abilities to become superior human resources (HR) and participate in building the nation.

"I would like to advise Indonesian students to become diligent in developing themselves, mastering the latest technology, and growing an entrepreneurial spirit by continuing to actively learn and innovate as well as be creative and not only pursue a title in an academy," he added.

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