Indonesia had witnessed some rapid developments in digitalization ever since globalization occurred and further increased with the impact of the COVID-19 pandemic that had driven the digital transformation process.
"With the transformation of several investment regulations, Qualcomm can extend its business network to Indonesia, particularly pertaining to the development of the 5G infrastructure and other digital sectors in Indonesia," Hartarto noted in a statement received here on Monday.
Post-pandemic economic recovery served as an opportunity to change the economy and various socio-economic activities into a digital economy.
In 2021, a total of over US$27 billion or equivalent to Rp400 trillion worth of commercial transactions were recorded, and there were over 2,300 start-ups in the country, thereby making Indonesia the fifth country in the world, with the highest number of start-ups.
In addition, Indonesia has 370 million cellular connection users and 204 million internet users, or 74 percent of the total population. The value of electronic money transactions also exceeded US$2.4 billion, or Rp35 trillion, as of December 2021.
The minister noted that in 2019, Indonesia's financial inclusion rate was recorded at 76.19 percent, and it was targeted to reach 90 percent by 2025. There were also some 785 million financial technology businesses in 2021.
Qualcomm is a company involved in the development of semiconductor products and software as well as provision of wireless technology services. The company had several important patents for 5G, 4G, and CDMA mobile communication standards.
Amon also commended the Indonesian Government for the developments in digital transformation that had been initiated over time.
Participants at the meeting, which was part of the 2022 World Economic Forum Annual Meeting (WEFAM) series, comprised Industry Minister Agus Gumiwang Kartasasmita; Deputy for Coordination of International Economic Cooperation at the Coordinating Ministry for the Economic Affairs, Edi Prio Pambudi; and Director General of Resilience, Regional Affairs, and International Industrial Access at the Industry Ministry, Eko Cahyanto.
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Translator: Agatha O V, Mecca Yumna
Editor: Sri Haryati
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