Jakarta, CNBC Indonesia – The ASEAN Digital Economy Framework Agreement (DEFA) was officially launched at the Ministerial level meeting, namely The 23rd ASEAN Economic Community Council (AECC) Meeting, Sunday (3/9/2023).
The Coordinating Minister for the Economy, Airlangga Hartarto as the chair said that when DEFA is enforced in 2025, the potential of ASEAN’s digital economy will potentially double in five years after it is enforced.
“In Indonesia launching DEFA, if DEFA is enforced in 2025 it will increase the business as usual ASEAN digital economy potential by US$ 1 trillion. But with the implementation of DEFA it could increase to US$ 2 trillion in 2030,” said Airlangga in a press conference, Sunday (3/9/2023).
In DEFA there is also the issue of sustainability, according to Airlangga, this issue is a common issue and of course related to ecosystem sustainability including electric vehicles.
Previously, Airlangga also said that the impact of DEFA, especially for Indonesia, was considered quite high. This is because Indonesia’s digital economy contributes 40% to the digital economy in ASEAN or the third largest in Asia.
Therefore, with the Digital Economy Framework Agreement in 2030, Indonesia’s digital economy growth can creep up to US$ 300 billion to US$ 400 billion.
“In Indonesia the number of start-ups is the third largest in Asia. So of course it is the mainstay, and the number of start-ups in Indonesia is around 2,500,” he explained.
For your information, the DEFA Study involved stakeholders across ASEAN, gathering information through a series of workshops and consultation sessions across the region. It also includes input from the ASEAN private sector, surveying more than 2,000 micro, small and medium enterprises (MSMEs), engaging more than 60 business leaders in large enterprises. This is also supported by a secondary literature review to obtain best practice recommendations.
DEFA seeks to offer a comprehensive roadmap to empower businesses and stakeholders across ASEAN, through accelerating trade growth, increasing interoperability, creating a secure online environment, and increasing MSMEs participation. Therefore, key topics such as digital commerce, cross-border e-commerce, cybersecurity, digital ID, and digital payments are also considered along with new topics such as AI to ensure future-proof DEFA.
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