President Jokowi: COVID-19 Pandemic as Momentum to Speed Up Digital Economy

President Jokowi delivers virtual remarks on 2020 Google for Indonesia event on Wednesday(18/11). (Source: Youtube Google Indonesia)

Indonesia should make the most of COVID-19 pandemic to accelerate the development of its digital economy, President Joko “Jokowi” Widodo has said.

“This is an opportunity to keep up with developed countries, an opportunity to fix various fundamental weaknesses, an opportunity to execute our grand strategy. This is the momentum to accelerate the development of the digital economy,” he said during a virtual remarks on Google for Indonesia 2020 event on Wednesday (18/11).

The President said that the potential for Indonesia’s digital market is very promising. Every year, internet market penetration has also increased very significantly and digital infrastructure has been built to reach all corners of the country. “I believe the digital economy will be able to create more new jobs,” he said.

The digital economy, he added, also has the potential to be developed in the MSME sector. “There are 64 million MSMEs but only 8 million or 13 percent are integrated with digital technology. If all of them are integrated with digital technology, the growth will be even greater,” said the President.

He went on to say that the acceleration of the digital economy requires support of a conducive business ecosystem. To that end, the Government has carried out a massive regulatory reform through the Job Creation Law.

“With the Job Creation Law, it will be easier for MSMEs to open new businesses. Complicated regulations become simpler, the licensing process is all integrated, simple and transparent with the help of technology,” he said.

The President added that improvements to the business ecosystem will continue, not only in simplifying licensing but also in terms of access to finance. “The Government has made it easier for MSMEs to access business loans with lower interest rates, easier requirements, especially for new start-ups,” he said. (FID/UN) (EST/LW)