Jakarta: Entitled 'Advancing the Digital Economy and Finance: Synergistic and Inclusive Ecosystem for Accelerated Recovery', the Indonesia Digital Economy and Finance Festival (FEKDI) 2022 was Monday officially opened by the Governor of Bank Indonesia and Coordinating Minister for Economic Affairs.
Organised by Bank Indonesia (BI) and the Coordinating Ministry for Economic Affairs with the support of other government ministries and institutions as well as the industry, FEKDI 2022 showcases innovative products and services as well as digital economic and financial policy synergy to accelerate the national economic recovery.
Synergy has been strengthened through joint commitment to launch the National Digital Economy and Finance Synergy Movement.
FEKDI 2022 is a side event of the G20 Finance Track: 3rd Finance and Central Bank Deputies (FCBD) Meeting and 3rd Finance Ministers and Central Bank Governors (FMCBG) Meeting in Nusa Dua, Bali.
"Digitalisation is a pillar of Indonesia Maju (Onward Indonesia). Today we strengthen digitalisation synergy and collaboration in Indonesia through FEKDI 2022, entitled 'Advancing the Digital Economy and Finance: Synergy and Inclusion'. Inclusive synergy and innovation are required to advance the country towards global competitiveness. Let us show the world and G20 that Indonesia is advanced digitally," BI Governor, Perry Warjiyo, said in a press release on Monday.
“BI support towards the realisation of a national digital economy and finance has been strengthened to accelerate the economic recovery, particularly through payment system digitalisation. Bank Indonesia is firmly committed to supporting national policy mix synergy for the digital economy and finance in line with government commitment and the Indonesian President's vision towards Indonesia Maju," added Governor Perry.
Echoing those sentiments and representing President Joko Widodo, the Coordinating Minister for Economic Affairs, Airlangga Hartarto, confirmed that the Covid-19 pandemic has impacted the pace of economic growth yet provided a promising outlook for digital economic and financial potential in Indonesia.
In 2021, the value of digital trade reached Rp401 trillion in line with greater public acceptance and growing public preference towards online retail, coupled with the support of digital payment system expansion and digital banking acceleration.
By 2025, the digital economy in Indonesia is projected to reach USD146 billion before growing eightfold to Rp4,531 trillion by 2030.
"Indonesia is also the most popular digital investment destination in Southeast Asia or represents 40% of digitalization in Southeast Asia, supported by efforts to improve a conducive business climate," said Coordinating Minister Airlangga.
Coordinating Minister Airlangga also acknowledged that the Government is currently optimising digitalisation opportunities through policy synergy concerning the digital economy and finance.
This is also realised through efforts to strengthen cooperation and connectivity regionally and globally across various sectors, including trade and payments in ASEAN.
"We continue to accelerate and improve economic and financial digitalisation towards greater financial inclusion nationally," reiterated Coordinating Minister Airlangga.
The hybrid FEKDI 2022 event will run for five days until July 15, with various discussions covering the digital economy and finance by the relevant authorities, industry players, academics and international organisations.
The salient discussion topics of FEKDI 2022 include: (i) digital economy and finance synergy and collaboration, (ii) digital currencies, (iii) economic inclusion and sustainability, (iv) cross-border payments and green financing, as well as (v) policy strategy to stimulate digitalisation for economic recovery.
FEKDI 2022 is also showcasing various innovative products and services, policy implementation and several achievements in terms of ecosystem development for the digital economy and finance.
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