Friday, 11 July 2025
28.5 C
Singapore
31 C
Thailand
20.2 C
Indonesia
29.3 C
Philippines

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

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 […]
  • 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.

Hot this week

Xiaomi Mijia Smart Dehumidifier 50L review: Powerful dehumidification for modern living

Powerful and smart, the Xiaomi Mijia Smart Dehumidifier 50L offers effective humidity control and air purification for modern homes.

TikTok may dodge US ban with new app and ownership deal

TikTok could avoid a US ban with the launch of a new app on September 5 and a possible sale to non-Chinese investors, including Oracle.

Sony halts Xperia 1 VII sales in several Asian markets due to technical issues

Sony halts Xperia 1 VII sales in several Asian countries after users report shutdown issues, although it remains available in Singapore for now.

Huawei defends AI model amid claims of using third-party code

Huawei denies using third-party models to train its latest AI, despite claims from a whistleblower and rising competition in China's tech sector.

Microsoft to exit Pakistan after 25 years, shifting to reseller model

Microsoft ends its 25-year presence in Pakistan, shifting to a reseller model amid global cuts and broader industry challenges.

Apple may launch an upgraded Vision Pro headset before the end of 2025

Apple is reportedly preparing to launch its second-gen Vision Pro with an M4 chip and better comfort as early as 2025.

Samsung’s Galaxy Watch8 series introduces sleep apnoea detection and smart design changes

Samsung’s Galaxy Watch8 adds sleep apnoea detection, health upgrades, and classic design choices ahead of its August 1 release in Singapore.

Samsung unveils slimmer Galaxy Z Fold7 with big camera and AI upgrades

Samsung launches its thinnest foldable yet, the Galaxy Z Fold7, featuring a 200MP camera, enhanced AI capabilities, and a larger display.

Xiaomi Mijia Smart Dehumidifier 50L review: Powerful dehumidification for modern living

Powerful and smart, the Xiaomi Mijia Smart Dehumidifier 50L offers effective humidity control and air purification for modern homes.

Related Articles

Popular Categories