Jokowi conveys Indonesia’s digital economy potential to US CEOs

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Jakarta – President Joko Widodo (Jokowi) called US businesses’ attention to Indonesia’s digital economy potential and earnestness in supporting equitable and beneficial development for all.

During a meeting as part of the US-ASEAN Summit Agenda in Washington D.C., Jokowi confirmed that Indonesia’s digital economy valuation is expected to exceed US$146 billion (about Rp2,132 trillion), or over half of the Southeast Asian region’s US$330 billion (approximately Rp4,821 billion).

“The value of the digital economy in Southeast Asia is anticipated to reach US$330 billion by 2025, and the digital economy in Indonesia is developing at a rate of 20% per year to reach US$146 billion in 2025,” Jokowi said in a speech televised on Friday.

The president also emphasized Indonesia’s digital economic climate, which now has 2,346 start-up enterprises, making it the world’s fifth-largest.

Indonesia presently has two startups that have achieved decacorn status, or a valuation of $10 billion, and eight others that have achieved unicorn status, or a valuation of up to $1 billion.

As a result, President Jokowi encouraged US entrepreneurs to help Indonesia expand its digital economy.

“I am particularly excited about the involvement of US entrepreneurs in establishing digital infrastructure, promoting digital capacity-building, and assisting Indonesia in entering the global value chain through digitalization,” he said.

Among those in attendance were US Secretary of Commerce Gina Raimondo, Ted Osius of the US-ASEAN Business Council, and CEOs from Google, Chevron, Boeing, Qualcomm, ConocoPhillips, and Marriott International.

President Jokowi was accompanied by Minister of Foreign Affairs Retno Marsudi and Indonesian Ambassador to the United States Rosan Roeslani for the meeting.

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