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Today's Headlines Digital Economy
American multinational technology company Google and American global management consulting firm AT Kearney completed a joint study and released a report, titled "Indonesia Venture Capital Outlook 2017", that shows Indonesia's startup market is thriving - albeit coming from a low base. Financial technology is regarded the top category for future investment.
Indonesia's Communications and Information Minister Rudiantara says all Indonesians across the whole archipelago will be able to enjoy Internet access by 2019. Through the Palapa Ring project, one of Indonesia's priority infrastructure projects, all cities and districts in Indonesia will have fast broadband Internet through an undersea fiber-optic cable network that stretches across 13,000 kilometers as well as an onshore network of nearly 22,000 kilometers.
In June 2016 the "1,000 digital startup movement" was launched by Indonesia's Communication and Information Ministry in cooperation with KIBAR, the nation's technology startup ecosystem builder. This government-backed program targets to see 1,000 startups in the digital economy by the year 2020 with a combined valuation of USD $10 billion. Considering that digitalization has been a key trend around the globe (covering basically all aspects of life), Indonesian authorities want this sector to boom in Indonesia as well, which would also make the whole economy more efficient.
Google Inc. and Temasek Holdings Pte released joint research that signals Southeast Asia's digital economy (which includes e-commerce, online games, advertising and other economic activities related to the Internet) will surge to USD $200 billion by 2025. Indonesia's digital market will account for 40.5 percent - or USD $81 billion - of this total market. With an estimated USD $46 billion, Indonesia's e-commerce sector will contribute most to the total.
Indonesia's Chamber of Commerce and Industry (Kadin) appreciates the 11 economic stimulus packages that have been released by the central government since September 2015. However, Kadin regrets to see that the central government does not put the issue of job creation as the basis of any package. Rosan Roeslani, Chairman of Kadin (and whose name was mentioned in the controversial Panama Papers), said all 11 packages answer to the desires of certain groups (such as investors and industries) but unemployment remains untackled.
Latest Columns Digital Economy
The COVID-19 outbreak has continued to impact digital media consumption worldwide. Internet platforms, such as e-commerce, now play a pivotal role in our daily lives. On the bright side of current situations, e-commerce is growing all over the world, including in Indonesia. This is because behavioral shifts amongst Indonesians to choose online platforms as their safest place to conduct their daily activities, such as shopping, working or just meeting with some friends.
It is something the central government of Indonesia has been planning and weighing for several years now, but the coronavirus (COVID-19) crisis seems to have sped up the efforts. Per 1 July 2020, the Indonesian government imposes a 10 percent value-added tax (VAT) on sales of imported digital products and services.
Indonesia, the world’s 16th-biggest economy, recently joined the “trillion-US dollar club” having a nominal gross domestic product (GDP) of USD $1.01 trillion. Meanwhile, the country’s annual economic growth has been going at a pace of around 5.0 percent over the past couple of years.
It came as a big surprise to us. Only three days before the new and somewhat controversial e-commerce tax regulation would come into effect, Indonesia’s Finance Ministry decided to delay its execution.
It’s not only a question of being digital or not; it’s more about the level ofdigital transformation that you are willing to take.
Indonesia has four unicorns – a term that refers to startup companies that are valued over USD $1 billion – namely: (1) ride-hailing and logistics company Go-Jek, (2) e-commerce operator Tokopedia, (3) e-commerce operator Bukalapak, and (4) airline ticketing and hotel booking services Traveloka.
Indonesia's eCommerce boom leads to rising demand for new logistics goods delivery concepts. This has been a problem for many brand owners and retailers that lack the technology and expertise in a distribution network. At e2eCommerce Indonesia 2018, around 2,000 attendees from eCommerce, retailers and SMEs will gather to seek answers to these problems. Are you a reliable logistics & fulfillment company? Do you have solutions for eCommerce business? Join us and exhibit your services!
The volume of Indonesia’s digital economy will reach about USD $130 billion by 2020, which will make the country among Southeast Asia's leading nations in terms of digital development. This was stated by local authorities just a week ago. New technologies, blockchain and transformation of the IT-sector will play key roles in this process. With this context in mind, the Blockchain INDO conference in Jakarta, to be held on 11-12 May 2018 in the Kempinski Hotel in Central Jakarta, becomes even more relevant.
Chinese e-commerce giant Alibaba founder Jack Ma having been appointed as special advisor to the Indonesian government for the development of Indonesia's e-commerce sector has led to some concern whether it puts China's richest man in a position of conflict of interest. Ma's Alibaba Group owns big stakes in Singapore-based e-commerce giant Lazada (which operates across Southeast Asia) and Indonesian online shopping facilitator Tokopedia.
NetApp Indonesia, the local unit of the American multinational storage and data management company, predicts three main information technology (IT) trends in Indonesia in 2017: (1) data becoming the "new currency", (2) new platform models taking over, and (3) cloud computing becoming a key source of corporate growth. Ana Sopia, Country Manager NetApp Indonesia, explained that numerous companies, all over the world, are currently experiencing digital transformation challenges.
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