Teten Encourages The Role Of Young Startups To Develop Digital Technology To Strengthen Business Ecosystems

Menkop UKM Teten Masduki (Photo: Doc. Antara)

JAKARTA - Minister of Cooperatives and SMEs (Menkop UKM) Teten Masduki encourages the role of young Indonesian startups in developing digital technology to strengthen the business ecosystem in the upstream sector.

This was revealed by Teten while attending the 2023 Indonesian Startup Investment Summit in Jakarta, on Wednesday, September 20.

"So, they are able to produce quality, efficient, and can compete in the domestic and global market," he said in a written statement.

Although there are already 22 million MSME players who have gone digital, Teten admits that there are those who cannot compete and cannot last long, especially when facing the invasion of imported products from China through digital platforms.

"To protect the domestic economy, the government needs to regulate the development of the digital economy," he said.

Teten assessed that if digital transformation is not properly navigated, it will not be prosperity that will be presented, but injustice and will have a social and political impact.

"We continue to communicate with local and global digital platforms and all stakeholders to have a commitment to grow a sustainable economy," he said.

He added that currently the government is reviewing all digital economic policies that are detrimental to the domestic economy, by presenting new rules in order to realize healthier business competition.

"Indonesia is very open to investment in the digital economy and everyone wants to continue to build a better digital ecosystem," he concluded.