Financial Services Authority Boss Wimboh Santoso: Indonesia Will Become The Number 1 Digital Economy Country In Asia

JAKARTA - Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Wimboh Santoso said that Indonesia had a great opportunity to benefit from the rapid digital developments at this time. In fact, Wimboh said that Indonesia would become one of the important players in the region in the future.

"Indonesia is projected to become the number 1 digital economy country in Asia in 2025," he said while giving a speech at the National Fintech Month event, Thursday, November 11.

In his notes, the contribution of digital transactions in the next four years is estimated to reach 124 billion US dollars or approximately IDR 1.736 trillion.

"Currently Indonesia is ranked 4th in the world, after China, Japan and the US in terms of the number of people who make online buying and selling transactions through e-commerce platforms," he said.

Wimboh added, the huge economic potential encourages the presence of economic startups, including health, agriculture, education, finance, and so on.

"The development of technological innovation in the financial sector will continue to be supported by policy makers to continue to produce regulations that are accommodating and anticipatory to the needs of the community, as well as taking sides with consumer interests and legal protection," he said.

Meanwhile, the role of the OJK in the financial services sector, Wimboh said, is quite important and strategic. To that end, his party encourages cross-industry collaboration to improve service innovation and financial products.

"We believe this collaboration will produce consumer-friendly output at very low prices, as well as open up wider access to finance in the community," he concluded.