“Indonesia is ready to become the most promising digital market in Southeast Asia. This is supported by continuous efforts by various industry sectors in the country to realize inclusive and sustainable economic growth,” the minister noted as cited from a press statement on Saturday.
Lutfi remarked that with the resources, talent pool, and strength in technology, Indonesia had become an important part of the global supply chain.
In the trade sector, Indonesia strengthens its capability to produce various important commodities, such as steel, nickel, and copper. Indonesia is also stepping up efforts to digitize and empower small and medium enterprises (UKM) to contribute to national exports.
Indonesia's ongoing efforts to grow the digital ecosystem are also in line with the nation's vision of building a circular economy.
Indonesia aims to become a developed country by 2024 that maximally maintains the value of products, raw materials, and resources.
Related news: Minister projects Indonesia's digital economy to grow 8 folds in 2030
The trade minister expressed optimism that Indonesia would become a promising market for foreign investors with the government’s sustainable efforts to expedite trading and tourism as well as the exponential growth of Indonesia’s digital and circular economy.
“The COVID-19 pandemic has made millions of Indonesians migrate their communication and social activities to the online medium. We have also seen the swift development of Indonesia’s digital economy,” he remarked.
He noted that since 2015, the gross merchandise value (GMV) in the digital economy had grown more than 40 percent annually. This trend has increased to 42 percent in April 2020.
“These figures have shown that Indonesia will become the most promising digital market in Southeast Asia at least by 2025,” he remarked.
Based on this figure, Trade Minister Lutfi explained that GMV in Indonesia's digital economy is projected to reach US$130 billion. This growth rate is above those of other countries in Southeast Asia.
Related news: Taking steps to capitalize on opportunities in digital economy: Govt
Translator: Arnindhya Nur, Raka Adji
Editor: Rahmad Nasution
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