Jakarta, Kominfo Newsroom - The value of ASEAN's digital economy is projected to double to US$2 trillion by 2030 thanks to the Digital Economic Framework Agreement (DEFA).
This was emphasized by Coordinating Economic Minister, Airlangga Hartarto, in a symposium entitled "Digital Economy and Sustainability" in Jakarta, on Thursday, 24 August 2023.
"With the Digital Economic Framework Agreement, it is expected that the number will double, to US$2 trillion in 2030," said Minister Airlangga.
Prior to DEFA, he said, ASEAN's digital economy was predicted to grow to US$ 330 billion in 2025, up to US$1 trillion in 2030.
DEFA is a cooperation framework that provides a comprehensive roadmap to empower businesses and stakeholders in the ASEAN region, through accelerating trade growth, increasing interoperability, creating a safe digital environment, and increasing MSME participation.
Coordinating Economic Minister Airlangga explained that 40 percent of the total value of ASEAN's digital economy currently comes from Indonesia. Therefore, with DEFA, Indonesia's digital economy is also expected to grow up to US$400 billion in 2030.
Meanwhile, in 2022, ASEAN recorded a gross merchandise value (GMV) of US$194 billion, an increase of 90 percent since 2019.
"In Indonesia, GMV is recorded at US$70 billion, and in 2025 it is expected to grow to around US$150 billion. Southeast Asia is also home to more than 4,500 startups, and in Indonesia alone, there are more than 2,000 startups," said Minister Airlangga.
Through Indonesia's chairmanship in ASEAN, Coordinating Economic Minister Airlangga said that his party is pushing for three main issues which include the issue of economic recovery (recovery building), digital economy, and sustainability.
On the same occasion, President of the Economic Research Institute for ASEAN and East Asia (ERIA) Tetsuya Watanabe said that the development of the digital economy in the region also needs to be accompanied by aspects of sustainability.
Therefore, collaboration between sectors, from the government to the private sector is needed to create a sustainable digital economic transformation in the ASEAN and East Asia regions.
"We need to ensure related sectors, such as transportation, finance, to jointly support policymakers and the private sector in this region to realize digital transformation, project management, as well as public and private engagement," he said. (Bayu Saputra/TR/Elvira)
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Photo caption: Coordinating Economic Minister, Airlangga Hartarto, in a symposium entitled "Digital Economy and Sustainability" in Jakarta, on Thursday, 24 August 2023.