World

Indonesia aims for 40 pct of ASEAN's digital economy market share by 2025

The Indonesian government has set a target that the country's digital economic growth may account for around 40 percent of the digital economy market in ASEAN by 2025.
Indonesia aims for 40 pct of ASEAN's digital economy market share by 2025 ảnh 1Minister of Trade Muhammad Lutfi (Photo: Indonesian Ministry of Trade)
Jakarta (VNA) - The Indonesian government has set a target that the country's digital economic growth may account for around 40 percent of the digital economy market in ASEAN by 2025.

Minister of Trade Muhammad Lutfi made the remark during a meeting with the Commission VI of the House of Representatives of Indonesia on August 23.

In 2021, it is estimated that the value of e-commerce transactions will reach 354.3 trillion IDR (24.6 billion USD), an increase of 33.11 percent compared to 2020, which stood at 266.2 trillion IDR.

Meanwhile, the transaction volume is likely to reach 1.35 billion, a year-on-year surge of 38.17 percent.

The minister said that the development of the digital economy can no longer be contained. The flow of digital transactions has begun to enter the second and third waves with the emergence of players in new sectors.

Not only in Indonesia, e-commerce also has an increasing role in regional economic growth. At present, e-commerce trade’s contribution is recorded at 7 percent of the total gross domestic product of ASEAN. The value of e-commerce trade is expected to hit 200 billion USD by 2025. 

E-commerce in ASEAN grew seven-fold to 38 billion USD in 2019 from just 5.5 billion USD four years earlier./.
VNA
#Indonesia#Minister of Trade Muhammad Lutfi#digital economic growth#ASEAN#digital economy market#e-commerce#Vietnamplus#vietnam news agency
Follow VietnamPlus

Related News

Indonesia sharply cuts COVID-19 RT-PCR test prices

Indonesia sharply cuts COVID-19 RT-PCR test prices

Indonesian President Joko Widodo has ordered to cut the COVID-19 RT-PCR test prices to a range between 450,000 rupiah (some 31.24 USD) and 550,000 rupiah from the previous maximum of 900,000 rupiah set by the Health Ministry.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.