Like it or not, we have to be ready for the world's digital progress
Jakarta (ANTARA) - President Joko Widodo (Jokowi) has praised State-Owned Enterprises Minister Erick Thohir for the idea of establishing the Merah Putih Fund that could channel funding for start-up companies.

"I really laud Minister Thohir's initiative to prepare the Merah Putih Fund. We hope the program would later proffer benefits to some Soonicorns, so they can be better companies," Jokowi remarked while inaugurating the Acceleration Movement of Digital Generation here, Wednesday.

The president urged the SOEs minister to involve the private sector and the Indonesian Investment Authority (INA) in the Merah Putih Fund, so that they can increase sources of funding and assistance for start-up companies.


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"With the involvement of many sectors, we hope to have larger funding to expedite our goals. I really laud what Minister Thohir does in preparing this Merah Putih Fund," Jokowi stated.

The Merah Putih Fund will complement the development of digital talent and other elements in the digital ecosystem to accelerate the creation of a digital community ecosystem in Indonesia, he added.

"There is an opportunity for us. The digital economy will grow if our infrastructure is ready, talent is ready, and our government is ready. Regulations are also ready to build a digital community ecosystem," Jokowi remarked.


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The head of state explained that the progress in digitalization in various aspects of life is unavoidable. The payment system in Indonesia is currently connected to digitalization, starting from payments for purchasing daily necessities and transportation services to banking services.

“The volume of e-money (electronic money) transactions compared to last year as of October also grew 31 percent. What I wanted to say is that the market potential is huge. Do not let someone from outside take this opportunity," he remarked.

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The head of state remarked that currently, Indonesia has 2,319 start-ups, with one at the decacorn level, seven unicorns, and several soonicorn companies.

"Like it or not, we have to be ready for the world's digital progress," Jokowi concluded.


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Translator: Indra A P, Resinta S
Editor: Fardah Assegaf
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