Home Startups In brief: Indonesia president Jokowi to feed Indonesia's unicorns with tax breaks

In brief: Indonesia president Jokowi to feed Indonesia’s unicorns with tax breaks

Posted on:

READING TIME: < 1 min read

- Advertisement -

  • Indonesia’s president, Jokowi is looking ahead to his next five years with big plans to support the nation’s digital economy.
  • The new tax breaks will help Indonesia to nurture its next unicorns, as well as increasing investment into one of Southeast Asia’s largest economy.
  • Indonesia’s internet economy was projected to be worth US$27 billion in 2018, making it the largest in the region and three times the size of second-place Singapore.
  • These four unicorns – ride hailer, Go-Jek, online travel company, Traveloka and net marketplaces, Tokopedia and Bukalapak, have helped the country’s economy grow at around 5% annually over the past half-decade.
  • The new measure aims to encourage human resources development in the digital sector, export-oriented industries, as well as local businesses that produce substitutes to imported goods.
  • Jokowi also said that he wants to create ripple effects by “connecting online with offline ecosystems.”
  • Indonesian unicorns can help the growth of small and micro businesses across the archipelago, bringing small businesses to grow along with them.
  • The steps such as the digital economy push, structural reforms, and further infrastructure development, are expected to help propel Indonesia into the top 10 of global economies by 2030 and the top four by 2045.
  • He said he wanted the economy to grow at a rate “beyond” the current 5%.
  • In another move to stimulate the economy, Jokowi is also planning to relocate the capital.
Felicia Calle
Felicia Calle
Australia | Felicia's fascination with tech began in the 90s, and she loves to update readers on the best tech deals on the internet. When she’s not writing, you’ll find her travelling around the world.

Related Reads

Featured Read

Editors’ Picks: Top 5 Tech Features For SITEX 2018

SITEX, Singapore's long-running Consumer Lifestyle IT Exhibition, is back for the 30th time this week. Organized by SGtech, managed by SingEx Exhibitions Pte Ltd,...

 Submit a Story

Do you have a story to share? We will help you inspire, connect, and celebrate with our thoughtfully vibrant community. Click here to find out more!

- Advertisement -

 Latest Stories

Fantech ALPHA GC-183: Premium high-back gaming chair with great comfort

The Fantech ALPHA GC-183 is a high-quality gaming chair that aims to provide both comfort and the best gaming experience for gamers....

How to choose the best gaming mouse: The ultimate guide [Infographic]

Choosing the best gaming mouse for yourself isn't easy! With loads of mice to choose from, made by various brands, and sporting...

How does an address validator work for businesses

It’s hard to imagine a successful marketing campaign without valid information. If you don’t have the right address, how can you send...

A small business guide to LinkedIn [Infographic]

With more than 610 million users, across more than 200 countries and territories, LinkedIn has the largest database of professional and career insights,...

Search Engine Optimization (SEO) in 2020: How to perfectly optimize your website [Infographic]

Are you exploring ways to maximize your SEO in 2020? Search algorithms are ever-changing, and it can be difficult to keep up...

Send this to a friend