Speaking at the Young Entrepreneur Hub event at the National Education University in Denpasar on Friday (13/10/23), Teten Masduki, Indonesia’s Cooperatives and Small and Medium Enterprises (SMEs) Minister said that the country’s digital transformation must create new economic opportunities to support the domestic economic sector, Antara News are reporting.
According to the minister, in the midst of the current rapid digital transformation, Indonesia is still focusing on the downstream sector, so it does not have a big impact on the development of Indonesia’s digital economy.
“Upstream, in the production sector, we are less focused. There are still a few digital applications that create new economic opportunities, such as in agriculture, culture, industry, health, and so on,” he said.
Antara News report that according to the minister, technology transfer is not something that is difficult to do in the current era as long as there is a road map or strategy. The consequence of a downstream-oriented digital economy is economic control by outside parties due to ownership of digital platforms.
To this end, he affirmed that the government is currently creating a digital transformation policy to protect the income of business players in the digital economy sector. The policy is being created to review digital economic policies that are detrimental to the domestic economy and to create healthy economic competition, say Antara News.
“We are making a digital transformation policy; we need mastery in technological development. Second, the regulation must protect our digital economic market so that the revenue is not taken by outsiders,” he said.
The digital economy policy is deemed essential and urgent, considering that Indonesia’s economy is currently the biggest in Southeast Asia.
He noted that the value of Indonesia’s digital economy has currently reached IDR 1,207-trillion, and it is targeted to rise to IDR 5,300-trillion by 2030.
Source: Antara News
Image by thisisengineering on Pexels
The post Minister: Digital Transformation Policy Creates New Opportunities appeared first on Invest Indonesia.
