Indonesia Ready to Shift from Traditional to Digital Economy

Updated on Wednesday 30th May 2018

Indonesia is slowly but surely exchanging the traditional economy for the digital one, according to specialists attending a conference on blockchain and financial technology held in Jakarta. Indonesia plans on becoming one of the most important digital economies in Southeast Asia in the years to come. Foreign investors who want to start businesses in the fintech sector can rely on our company formation consultants in Indonesia for assistance.

The Indonesian digital economy to reach 130 billion USD by 2020

Indonesia is one of the most performant economies in Southeast Asia and part of this development is given by the investments made by the government in the IT infrastructure which now permits the creation of new technology which can be used to transform the traditional economy into a digital one.

By 2020, the government plans for the Indonesian digital economy to reach a total value of 130 billion USD by using blockchain technology. The IT industry will go through another modernization phase.

The conference organized by the government attracted the attention of large players from all over the world in the cryptocurrency sector. Foreign IT companies, digital marketing agencies and fintech companies are now expected to cooperate with local companies in order to help the development of the Indonesian digital economy.

Our Indonesia company incorporation advisors can help foreign investors who want to open companies in the fintech industry.

By the end of 2020, most SMEs in Indonesia will use digital technology

The Indonesian economy relies on the small and medium-sized enterprises (SMEs) which are currently in the phase of implementing new technologies which will allow them to offer innovative solutions to their customers. At the moment only 9% of the total number of SMEs in Indonesia are using digital technologies, however by the end of 2020, 8 million companies are expected to use them.

During the same timeframe, 1,000 IT startups are expected to be created in Indonesia. The total value should be 10 billion USD.  Other predictions revolve around Indonesia having 100,000 virtual currency users in the near future which will be great start for cryptocurrency companies in this country.

If you want to set up a company in the cryptocurrency industry, please contact our company registration agents in Indonesia.