Kedutaan Besar Republik Indonesia
Embassy of the Republic of Indonesia
Ambassade de la RÉpublique d'Indonésie

Digital technology boosts brand value: Jokowi

President Joko “Jokowi” Widodo has saidA�businesspeople are fortunate to have the assistance ofA�digital technology to boost the brand value of their products.

Speaking at an event titled, a�?Entrepreneurs Wanted,a�?A� in Bandung on Monday, Jokowi spoke of hisA�experienceA�building hisA�furniture product brandA�overA�27 years, eventually reaching a value ofA�Rp 30 billion (US$2.1 million).

Meanwhile, he added that theA�value ofA�his eldest son Gibran Rakabuming Rakaa��s business,A�Markobar a�?martabak,a��A�which was launchedA�only a few years ago, was, with the aid ofA�digital technology,A�alreadyA�five times higher thanA�his furniture brand.

Read also:A�Addressing challenges of VAT collection in digital economy

In the next five years, Indonesia’sA�digital economy wouldA�be worth about $130 billion, said Jokowi.

However, he said that Indonesia needed many more entrepreneurs as they currently made up onlyA�3.31 percent of theA�population, compared to the percentage in Singapore, which was 7 percent,A�Malaysia at 5 percent andA�Thailand at 4.5 percent.

“There are a lot of opportunities that can be exploitedA�using thisA�new modeA�of business,” he said, adding that according to the World Bank, the country needed at least 4 percent of its population to be entrepreneurs.

Other speakers at the event includedA�Tokopedia Co-founder Wiliam Tanuwijaya and Amartha Fintech founder Andi Taufan Garuda Putra. The event was attended byA�1,000 university and senior high school students. (bbn)