Optimize The Potential For The Indonesian Digital Economy Sector, The Ministry Of Trade Targets The Digitization Of 1,000 People's Markets

Deputy Minister of Trade Jerry Sambuaga. (Photo: Doc. ANTARA)

JAKARTA - The Ministry of Trade (Kemendag) continues to optimize the potential of Indonesia's digital economy sector to grow rapidly. One of them is by encouraging the digitization of the people's market.

The Ministry of Trade is also targeting the digitization of 1,000 people's markets and 1,000,000 MSMEs throughout Indonesia.

Deputy Minister of Trade Jerry Sambuaga said the taget was in line with the potential of the digital economy sector.

It is estimated that by 2030, the sector's contribution to the national economy will increase to 18 percent of total gross domestic product (GDP).

In optimizing the potential of Indonesia's digital economy, said Jerry, currently the Ministry of Trade is focusing on regulating, fostering, and monitoring electronic trade (commercial-el); increasing exports through digital platforms; physical trading of crypto assets; digitalization of traditional markets and micro, small and medium enterprises (MSMEs); monitoring and reporting systems for prices and stock of goods; and digital trading negotiations.

"As the implementation of digital transformation in the field of trade, the Ministry of Trade targets the digitization of 1,000 people's markets and 1,000,000 MSMEs throughout Indonesia," he said in an official statement, in Jakarta, Wednesday, October 5.

Currently, said Jerry, there are already 2,047 people's markets using market websites through the Trade Facilities Information System (SISP), 10 people's markets on-boarding marketing digitally, and 51 people's markets have made non-cash transactions through QRIS.

"For MSMEs and traditional traders, 326 traditional markets in 42 sub-districts with 106,702 local traders have implemented e-retribution and 9.7 million MSME traders have made non-cash transactions through QRIS. This number will continue to increase as the program develops," he explained.

According to Jerry, based on the Gross Merchandise Value (GMV), the value of commercial-el transactions in Indonesia in 2022 is projected to reach IDR 526 trillion or grow 31.1 percent from the previous year.

"This growth is supported by increased internet penetration and increasing digital consumers in Indonesia," he said.

Jerry said Indonesia's digital economy growth also had an impact on trading digital assets.

The transaction value of crypto assets in 2021 was recorded at IDR 859.4 trillion, growing more than 1,200 percent in 2020.

Meanwhile, the total transaction value in January-August 2022 was recorded at Rp249.3 trillion.

On the other hand, the number of customers of crypto assets registered in Indonesia until August 2022 was recorded at 16.1 million customers with an average increase in the number of registered customers by 725 thousand customers per month.

"In the future, the Ministry of Trade will continue to synergize with all stakeholders in order to create a solid digital economy ecosystem. That way, Indonesia's digital economy sector will be able to have a more optimal and beneficial impact on the community," he said.