Jokowi shared that 14 million MSMEs have digitized parts of their businesses during the pandemic. Last year alone, Indonesia’s e-commerce transaction volumes reached US$ 17.5 billion (IDR 253 trillion). E-commerce transactions are estimated to reach US$ 22.9 billion (IDR 331
Jokowi emphasized the role of a clean-technology enabled economy, and the transition towards new and renewable energy to accelerate Indonesia’s growth. Excluding the upstream oil and gas industry and financial services, Indonesia’s in-country investments had reached US$ 31 billion (IDR
Indonesia’s GDP growth is targeted at 5- 5.5% in the draft State Budget 2022 (“RAPBN”). Venture investors remain optimistic for Indonesia’s startup ecosystem, provided there are signs of economic recovery in the short term. With a typical investment period of
The effects of climate change are increasingly apparent. The United Nations climate panel report warned that the Earth’s temperature has increased by 1.1 degrees Celsius since the 19th century. If there are no significant reductions in carbon emissions from now,
The Government of Indonesia offers a streamlined process for MSMEs to obtain business permits, using the online single submission system (“OSS”). MSMEs can now obtain a business identification number (“NIB”) in as fast as 30 minutes. Investment Minister, Bahlil Lahadalia,
As small businesses (“MSMEs”) are increasingly turning to digital solutions to operate, fintechs are working hard to effectively reach the MSME segment. Latest national data reveals that 11.7 million MSMEs have entered the digital ecosystem, as of early 2021. The
In the midst of pandemic, the agriculture sector has shown resilience and maintained productivity. State-owned bank BRI disbursed agricultural loans amounting to US$ 8.2 billion (IDR 118 trillion), a 12.8% year-on-year growth, by the end of Q2 this year. BRI
The Financial System Stability Committee (“KSSK”) shared that from April to June, Indonesia’s financial system had shown economic recovery and stability. However in Q3, since the implementation of lockdowns (“PPKM”) due to the rising Covid-19 cases, the progress has halted.
Digital credit platform Kredivo plans to go public at a valuation of US$ 2.5 billion, IDR 36.25 trillion, on the NASDAQ stock exchange next year via SPAC, a special purpose acquisition company. Kredivo distributes instant credit for consumer purchases on
The Ministry of Energy and Mineral Resources noted that the realization of investment in new, renewable energy and energy conservation (EBTKE) have reached US$ 1.07 billion, as of June 2021. This figure reached 52% of the investment target set for
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