Hipmi Strives BUMN And Private Collaboration To Develop Digital Economy

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JAKARTA - Head of the Transportation and State-Owned Enterprises (SOE) Division, the Central Executive Board of the Indonesian Young Entrepreneurs Association (Hipmi), Arya Anugrah Pratama Kuntadi, encourages positive collaboration between State-Owned Enterprises (SOE) and the private sector in developing the digital economy in the country.

He gave the example of Telkom Group which invested in PT GoTo Gojek Tokopedia Tbk even though the digital company's shares are currently experiencing a drastic correction.

"I believe that the Telkom Group has carried out the correct procedures when it comes to investing in digital companies such as GoTo. Instead, I encourage positive collaboration between SOEs and the national private sector. This includes developing digital companies. Because developed countries must have strong collaboration between State-Owned Enterprises (SOEs) and the private sector. If it is not our State-Owned Enterprise that plays a role, who else will develop Indonesia's digital economy," said Arya in a statement in Jakarta, Monday, May 16.

Some time ago, Telkom Group invested in GoTo shares. Arya assessed that the investment made by the Telkom Group in digital companies such as GoTo was a necessity. This is because investments in digital companies are also made by global telecommunication companies with the aim of being able to build a digital ecosystem so that telecommunication companies can continue to maintain their income and be able to develop in an increasingly broad digital market.

"Telkom Group must be the epicenter of Indonesia's digital economic growth. Even if possible, Telkom must become a digital economy leader in the region. In order for Telkom to continue to maintain its income and develop the national digital economy, it must enter digital companies. They must also include people who are experienced in digital startups. And that's what they have done," said Arya as quoted by Antara.

Arya also sees that GoTo's stock price correction that affects Telkom Group's investment value is a common occurrence, because the stock prices of GoTo and other technology companies both on the Indonesia Stock Exchange (IDX) and on global exchanges are experiencing selling pressure.

He assessed that the current price fluctuations in the stock market were normal. Investors cannot ensure that the investment invested will definitely gain or lose, because fluctuations in stock prices on the stock exchange are influenced by several sentiments such as global, regional, and local sentiment.

The policy of the United States (US) central bank, The Federal Reserve (The Fed) to raise its benchmark interest rate by 50 basis points (bps) or 0.5 percent, put global and Indonesian stock indexes under pressure. The biggest share selling pressure is currently experienced by companies engaged in technology such as digital banks and marketplaces.

The selling pressure currently occurring in the stock market is considered reasonable by Arya. The correction that occurred in technology stocks was assessed by Arya as only temporary. When the Fed's rate hike sentiment has subsided, it is believed that digital companies' stock price performance will recover.

With a large population and the large potential of the Indonesian people who have not used digital platforms, it is still the main attraction for digital economic growth.

"Elon Musk, with SpaceX and Starlink, are interested in working on Indonesia's digital economy. This shows the huge potential for growth in the national digital economy, including startup and digital companies.