Deputy Minister of Finance Suahasil Opens Secret: These are the Four Areas of the Future of the Financial Industry

Deputy Minister of Finance (Memenkeu) Suahasi Nazara. (Photo: YouTube Screenshot)

JAKARTA - Deputy Minister of Finance (Memenkeu) Suahasi Nazara revealed that there are four areas for the future of the financial industry. This area is very important for the financial sector to pay attention to.

First, the health sector. Suahasil said that this sector could be a source that drives growth for the domestic financial industry.

Suahasil said, Indonesia had been successful in handling COVID-19 which had a huge impact on the financial sector. Therefore, Indonesia must learn from this experience.

"We must continue to pay attention to the financial sector in relation to the health sector... I hope that in the future the Indonesian financial sector can see what the function and role of the financial sector is in terms of preparedness," he said in his remarks at the 2023 Indonesia Financial Group (IFG) International Conference in Jakarta, Tuesday, September 19.

Second, continued Suahasil, downstream natural resources (SDA). This sector must be utilized by the financial industry considering that Indonesia has a high commitment to downstreaming.

"The downstream industry is a new area of ​​the new landscape. If the steps we take are the right steps, this will become a very developing sector in Indonesia," he said.

"I encourage the financial sector to look carefully at the downstream industry which can be meaningful in ensuring we can achieve our vision," he continued.

Third, digitalization. Suahasil said, digitalization is still a challenge at the moment but it is also an opportunity. Remember, the development of digitalization is inevitable.

Digitalization today, he continued, does not only talk about applications and robots, but also enters the era of artificial intelligence (AI). Where, humans can communicate with machines.

Current digitalization developments, he continued, can also be utilized in providing public services in the financial industry.

“I hope the financial sector can take advantage of this. "So we have to learn to increase the level of trust, governance and other areas," he explained.

Lastly, green economy. He said, the green economic aspect is a new reality in defining new business sectors in Indonesia and the world.

"Maybe in the next few weeks or days, Indonesia will have a carbon market and we will enter the energy transition mechanism. We will offer many ideas in various international forums about a just and affordable transition," he said.

Therefore, said Suahasi, this green economy area needs to be utilized by the domestic financial industry.

The reason is, this will determine Indonesia's life in the future.

“I hope the financial sector can find the point where it can make the most important contribution to this agenda. "For example, from the pension fund sector, banking, what is your respective role in this field," he said.