Jakarta (ANTARA) - State-Owned Enterprises (SOEs) Minister Erick Thohir has asked foreign investors, including TikTok, to increase investment in Indonesia given the country's vast digital economy potential.

He said that in addition to being the largest in Southeast Asia, Indonesia's economy can be the largest in the world.

"TikTok must be confident to invest more than in other countries. Therefore, please convey it to superiors in TikTok. I have met them before. They should not be strangers in Indonesia," he added in Jakarta on Wednesday.

Thohir noted that Indonesia's digital economy potential is projected to reach Rp4,500 trillion (around US$277.14 billion) in 2030. The country is also projected to be among the 15 biggest economies in the world by 2029 and the world's 5 biggest economies by 2045.

He emphasized that he does not want Indonesia to be seen only as a market for investors and other countries.

According to him, SOEs must ensure that mutually beneficial collaborations are established. This would also be a form of commitment to maintaining economic balance in Indonesia.

"We are not anti-investment, but we want a healthy investment commitment for Indonesia so that we can ensure the creation of job opportunities and the growth of new micro, small, and medium enterprise (MSME) entrepreneurs," the minister added.

Earlier, Thohir said that state-run companies must build partnerships with private business players and MSMEs to derive mutual benefits.

"I am encouraging this and I encourage all SOEs to also be open to partner with MSMEs, the private sector, (and draw) foreign investments in a transparent and professional manner," he added.

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Translator: Maria Cicilia, Raka Adji
Editor: Rahmad Nasution
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