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Indonesia’s digital economy is primed to become the largest in Southeast Asia, according to a new study, as its market value triples to US$ 100 billion by 2025 from US$ 27 billion in 2018.
As reported, this growth will be promising more jobs and consumer choices for a rising tech-savvy generation.
The annual study is conducted by American tech giant Google and the Singaporean holding company, Temasek.
Called the “e-Conomy Southeast Asia” study, it highlights that the growth will be caused by four digital services.
These are e-commerce, with 53% contribution; online travel with 25%; ride-hailing services with 14%; and online media with 8%.
These sectors have grown big and they will continue to do so in the coming years.
Since the study did not include the emerging digital businesses like those related to finance, health and education, the growth might be slightly higher than predicted.
The American company’s Head of Strategy and Insights explained that the lack of data on these businesses meant the study was unable to make reliable predictions.
The increase in digital services available, specifically in e-commerce, diversifies the product and service choices for Indonesia’s 150 million smartphone users.
This number is the largest in the region, particularly for users located in more remote areas.
Advertisements launched by Indonesia’s e-commerce platforms, Tokopedia and Bukalapak, highlight their expansive logistics networks, able to bring everything to even the remotest home.
The report says that the digital economy will also increase employment opportunities as the average Southeast Asian internet-based company will increase staff by 10% each year.
The study’s findings can be supported by a 2018 McKinsey report as it estimates that the digital economy could produce 3.7 million new jobs in Indonesia by 2025.
Aside from employment, the report also describes that the growth of transportation-facilitated digital services may triple “partner” jobs to 12 million region-wide in 2025, from 4 million in 2018.
Even though Indonesia’s digital economy grows to the estimated US$ 100 billion in 2025, it will only contribute 4% to the US$ 2.5 trillion government-target in gross domestic product in the same year.
Nevertheless, the Singaporean company’s Portfolio Strategy and Risk Group Joint Head said that he was confident Southeast Asia could “narrow the gap very rapidly” over the years to come.
Everything in the ecosystem is slowly beginning to come together and that is going to make all the difference.
These factors in the ecosystem that limit digital economic growth, according to 2017’s e-Conomy report, are funding, internet connection, consumer trust, digital talent, logistics and payment methods.
Indonesia had made significant progress with the first three factors, thanks to rising investor confidence, government infrastructure programs and effective marketing campaigns.
However, room for improvement remains for the availability of digital talent, logistics and payment methods.
The government, for its part, promised to continue its infrastructure programs and to focus next year’s development policy on building human resources.
Regarding payment, the internet-based companies need to either partner or consolidate with other companies to increase the integration of payment services in an otherwise heavily fragmented payment landscape.
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The Ministries of Finance and National Development Planning (Bappenas) and the National Development Planning Agency (PPN) have jointly released the Krisna Renja-Sakti synchronisation module. Together, these two tools reduce the number of actions required to disburse funds from 13 to 8.
Abdullah Azwar Anas, the Minister for Administrative Reform and Bureaucratic Reform, felt that the move taken by the Ministry of Finance and Bappenas was a significant step forward in bureaucratic reform in the budget sector (PANRB).
“This is the SPBE layout plan. Creating efficient and straightforward software is a top priority for any government service integration initiative. The Finance Minister and Bappenas’s Chief are an example for other organisations that want to unify their various administrative processes,” Anas declared at the Krisna Renja – Sakti synchronisation module launch in Jakarta.
Indonesia’s Minister of Finance, Sri Mulyani Indrawati, has made it clear that implementing Krisna-Sakti will streamline budgeting, obtaining funds, and reporting expenditures for the country’s numerous government agencies. As an added request, she asked that the Ministry of Finance and Bappenas make Krisna-Sakti fully interoperable and streamline standard operating processes.
I emphasised that streamlining our administration is the hardest part,” Sri observed. “If our nation’s bureaucracy is to foster creative problem-solving, how can this be accomplished?” she chimed in.
The Ministry of Finance and Bappenas are committed to continuing their efforts to improve services to ministries/agencies to bring about a more developed and rich Indonesian people and nation. To Sri, this was the first step in fixing and coordinating these two essential applications used by all branches of government. All government agencies and academic research facilities must get the blessing of Krisna and Sakti before they may receive funds.
Suharso Monoarfa, Minister of PPN and Head of Bappenas, has said that this synchronisation made the increased transparency and accountability in planning and budgeting possible. He is confident that his company will be able to effectively curb unnecessary expenditures and quickly readjust course as needed throughout the introduction of new development plans.
Also, the app was built following the National SPBE Architecture Perpres Regulation’s mandate to minimise redundant efforts and make the most of existing ones. The PANRB-prioritised Ministry has stated that combining Krisna and Sakti improves the E-Government infrastructure (SPBE).
The government’s apps have been updated and digitised as part of the consolidated and standardised Electronic-Based Government System (SPBE). Because it is a necessary measure in the battle against corruption, the government of Indonesia backs the system.
Anas noted that nations with advanced levels of e-government, such as Denmark and Finland, also tend to have low levels of perceived corruption. Therefore, he reasoned that full SPBE implementation would be the solution because Indonesia’s score on the Corruption Perceptions Index (GPA) has reduced from 38 in 2021 to 34 in 2022.
Since Presidential Regulation 132/2022 on the National Electronic-Based Government System Architecture was passed, SPBE deployment in Indonesia has been regulated by law. To improve the standard of public services, the government has committed to speeding up the process of integrating business processes, data and information, SPBE infrastructure, SPBE applications, and SPBE security.
Deputy Corruption Eradication Commission (KPK) Chairperson Alexander Marwata believes SPBE can root out corruption in Indonesia. According to him, extortion, bribery, and other forms of crime may be avoided, and government services to the public can be enhanced using technical assistance and the honesty of public officials.
The Ministry of PANRB also increases SPBE’s use in the public sector through the Digital Public Service Mall (MPP). This one system will consolidate a wide range of governmental operations at all levels, from the federal to the state and local.
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The Land Transport Industry Transformation Map (ITM) 2025 was unveiled by Minister of Transport S Iswaran. Developed by the Land Transport Authority (LTA) in close collaboration with industry and union partners, the updated Land Transport ITM aims to create a sustainable and resilient land transport sector, a workforce that is future-ready, and a thriving ecosystem.
The Land Transport ITM 2025 will assist the industry in overcoming the immediate challenges of labour shortages and decarbonisation. It aims to accomplish three strategic outcomes, including A Future-Ready Workforce, A Sustainable and Resilient Land Transport Sector, and A Reliable and Cost-Effective Transport System through Innovation and Technology.
“Talent development and skills upgrading for workers remain key to the land transport sector’s transformation and resilience,” says Chee Hong Tat, Senior Minister of State, Ministry of Transport and Co-Chair of the Future Economy Council (FEC) Connectivity Cluster. The LTA is collaborating with public transportation operators and unions to prepare workers for new challenges, ensuring that the workforce remains productive and future-ready.
The land transport industry, a critical pillar in enabling connectivity that supports the economy, can only do so thanks to the efforts of its employees. With over 100,000 employees, the workers perform a variety of roles such as bus captains, bus mechanics, customer service officers, railway engineers, station managers, and point-to-point (P2P) drivers.
The nature of work will also change as technology and digitalisation advance. As a result, under the revised ITM, the LTA will collaborate with the National Transport Workers Union (NTWU) and public transportation operators to train rail workers to use new and emerging technologies such as data and statistical analytics, as well as condition monitoring, to increase efficiency and productivity.
Since 2020, the Rail Manpower Development Incentive has helped over 2,900 workers improve their skills. Faults, for example, can be detected and physical checks reduced using video monitoring and image analysis.
Additionally, they are gradually enhancing the skills of their bus captains and technicians to operate electric buses. To create appropriate training programmes on cleaner energy buses for the bus workforce, the Singapore Bus Academy (SGBA) has been collaborating with pertinent stakeholders, including bus suppliers, Institutes of Higher Learning, NTWU, and bus operators.
To prepare the workforce to support Singapore’s push for vehicle electrification, LTA will also keep up its close collaboration with partners in the private transportation sector, such as tertiary institutions. Also, LTA will keep urging commuters to use public transportation or active transportation options under Walk Cycle Ride. By enhancing the infrastructure for EV charging and fortifying the EV regulatory framework, LTA is also encouraging greater adoption of EVs.
To increase the effectiveness of the land transportation system, industry and academic partners will use an open innovation strategy to draw on outside ideas. This includes decentralising data and working with others to develop creative solutions that will improve operational procedures and promote environmental sustainability.
To simplify outreach to industry partners, the LTA introduced the Land Transport Innovation Portal in September 2022 as a one-stop shop for all innovation-related issues. To assist partners in better understanding LTA’s requirements and identifying opportunities for co-innovation and collaboration, the portal disseminates operational problem statements from LTA as well as details on upcoming innovation events.
Additionally, it points potential innovators to the LTA DataMall’s data resources, which include over 130 static and dynamic datasets as well as a newly expanded catalogue of “On-Request Datasets” in an effort to spur more original ideas that can meet the needs of the land transportation industry.
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A provider of Electronic Manufacturing Services (EMS) has announced plans to construct a Smart ‘Lights-Out’ Factory 4.0 in Batu Kawan, Penang, with an estimated cost of RM180 million. This development is expected to bring about significant changes in the Northern Peninsular region.
The factory will be involved in the production of Optical Modules, which are new 5G Advanced High Speed Optical Signal Transmitter and Receiver components for 5G wireless networks. The factory will use photonics and semiconductor technologies acquired through technology transfer from its US-based customer.
Construction of the Batu Kawan plant began in January 2023 and is expected to facilitate the first-ever technology transfer in Southeast Asia. This development is expected to enhance the skillset and competitiveness of the local workforce, and the plant is anticipated to hire around 1,000 highly skilled individuals once completed in the first half of 2024.
As part of their expansion plan announcement, the provider welcomed a delegation from the Malaysian Investment Development Authority (MIDA) to their location in Sg. Petani. The delegation was led by the Deputy Chief Executive Officer (Investment Development) and included the Senior State Executive Council Member (Kedah) and a Member of Parliament from Kubang Pasu, Kedah.
The EMS provider which currently employs approximately 3,000 staff, (representing about 1% of the Sg. Petani population), has expressed its intention to collaborate with local universities and colleges in actively training fresh graduates to become industry-savvy. Their “hire local first” policy prioritises employing Malaysians from the surrounding area, thus reducing their dependency on foreign labour.
The Deputy Chief Executive Officer (Investment Development) of MIDA extended congratulations to the EMS provider, stating that they are pleased to see the company actively collaborating with local universities and colleges to train fresh graduates and improve their industry knowledge.
The company’s “hire local first” policy was also applauded for providing job opportunities to Malaysians in the surrounding area and reducing dependency on foreign labour, which in turn enhances the livelihoods of locals. These expansion plans are in line with the National Investment Aspirations (NIA) of attracting high-value investments to promote sustainable and comprehensive economic growth.
She added that Malaysia welcomes the firm’s expansion project, which utilises cutting-edge 5G technology, aligning with the government’s mandate for MIDA to drive the rapid digital transformation of the manufacturing sector. This development is expected to lead to improvements in productivity, job creation, and the enhancement of the skill set of Malaysians.
The new plant will implement the Lights-Out methodology, creating a fully networked environment that digitises material flow for autonomous manufacturing. A remote team of highly specialised experts will be responsible for data management, production planning, and quality control.
In addition to the Batu Kawan plant, the EMS provider is expanding its presence by constructing Smart Warehouses and an International Procurement Centre, which will feature Kedah’s first Vendor Management Inventory (VMI) system. These facilities, with a total cost of RM40 million, will cater to the provider’s own growing requirements and those of the surrounding industrial clusters in Sg Petani, Kedah, and Batu Kawan, Penang. The completion of these facilities is expected to be in 2024.
According to the firm’s Chief Executive Officer (CEO), the development of smart facilities is timely, given the Group’s expansion journey. The company has progressed from providing Printed Circuit Board Assembly (PCBA) and full-product box-build assembly to producing upstream 5G routers and soon 5G optical modules.
The provider aims to collaborate more closely with government authorities and agencies such as MIDA to increase the economic value of the state. Their current plant in Sg. Petani has already benefited from grants that encourage exports and innovation, and they hope to receive continued support for their future expansion plans.
In addition to grants, they appreciate open sessions for dialogue and feedback on current policies, so that government agencies can stay informed about the latest developments and challenges faced by industry players and formulate mutually-beneficial solutions.
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President Jokowi stressed the need for constant innovation for ministries, agencies and regional governments to speed up services. Rising public expectations will be challenging to achieve without creative problem-solving.
Abdullah Azwar Anas, Minister of Administrative and Bureaucratic Reform (PANRB) said that new ideas are essential to enhancing the standard of government services. However, Anas emphasised that creating a new application for every breakthrough is unnecessary. Since there are presently over 27,000 applications for various public services from several government organisations, they have already been developed.
“It’s encouraging to see the government adopting new approaches to delivering services to make life easier for its constituents. But a new app development effort is not mandatory. No longer is there a ‘one invention, one use’,” he said when inaugurating the 2023 Public Service Innovation Competition (KIPP) Launch.
According to Anas, innovation should simplify people’s lives, not make them more difficult. Minister Anas has stated that integration and interoperability are essential in the future. Both are following the plans of the SPBE Electronic-Based Government System, as directed by President Joko Widodo. Single sign-on at digital public service malls (MPP) is a step towards simplifying all kinds of processes.
“In other words, gone are the days when locals seeking service A first downloaded app A, then manually created account A by entering extensive personal information. Accessing Service B requires using Application B; if you don’t already have a Service B account, you must make one and enter your information again. As well as the others. The populace is in disarray with thousands of service applications today,” he noted.
Furthermore, the government has carried out a digital transformation of public services using artificial intelligence to give convenient services to the community (AI). Diah Natalisa, Deputy for Public Services at the Ministry of Apparatus Empowerment and Bureaucratic Reform (PANRB), has emphasised the importance of digital services and how they improve the efficiency and accessibility of government programmes.
Diah explained that the Indonesian National Artificial Intelligence Strategy 2020-2045 has already been formed. It identifies five priority sectors with promising prospects for AI’s advancement, application, and exploitation. Artificial intelligence innovations are first used in the healthcare industry to improve response times, increase patient numbers served, and lower overall healthcare costs.
Patients can allegedly access medical care via telemedicine without physically going to a clinic or doctor’s office. In addition, there are various ways to employ AI in the realm of bureaucratic reform, such as creating ChatBots that can provide 24-hour, two-way dialogue with the general public.
Meanwhile, Diah argued that the potential for the future growth of artificial intelligence would lead to precision learning in education. Learners’ routine actions are considered with their mental and emotional faculties and physical abilities.
Then, artificial intelligence can be applied to satellite photos in food security to determine which locations have access to electricity and which do not. It’s been theorised that this hypothetical can also be used to catalogue the crops cultivated in a particular region and forecast the yield of each crop.
AI will also help the future of transportation and intelligent urban planning. Diah presented the example of using AI for smart traffic management solutions to guarantee locals’ safe and efficient movement from one place to another.
The Ministry of Administrative and Bureaucratic Reform is developing the Public Service Portal. The portal system’s AI will be optimised to predict and fulfil each user’s needs based on their unique traits.
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A significant partnership between a leading Victorian university and a top global hospital is poised to elevate MedTech breakthroughs and contribute to the enhancement of healthcare. The Minister for Industry and Innovation, Ben Carroll, witnessed the signing of a Memorandum of Understanding (MoU) between Monash University and Sheba Medical Center in Tel Aviv, Israel. The MoU aims to foster research and development of more inclusive healthcare systems and MedTech manufacturing prospects in Victoria.
The Australian government will provide approximately AU$ 200,000 to Monash University’s Victorian Heart Institute in support of the MoU. The funding will facilitate access to cutting-edge technology, accelerate the adoption of new treatments for cardiovascular diseases, and help combat one of the leading causes of mortality worldwide.
The largest university in Australia, Monash University earned the title of the world’s best in Pharmacy and Pharmacology in 2022, becoming the first Australian institution to achieve this distinction. Meanwhile, Sheba Medical Centre acknowledged as one of the top hospitals globally has gained expertise in artificial intelligence (AI), robotic surgery, digital imaging and telemedicine. These capabilities were established through its in-house innovation hub.
This partnership is anticipated to improve the delivery of healthcare in Victoria and create opportunities for local companies to generate employment in MedTech research, manufacturing, and export.
Australia has extended support to various significant MedTech initiatives, including the Australian Medtech Manufacturing Centre (AU$20 million), mRNA Victoria, and MedTech startups through LaunchVic and the Breakthrough Victoria Fund. Victoria’s MedTech sector contributes AU$ 21.4 billion in revenue, AU$ 3.5 billion in exports and sustains around 31,400 jobs.
The Minister for Industry and Innovation expressed his approval of the partnership between Monash University and Sheba Medical Center, citing its potential to attract more investment to Victoria’s MedTech sector and enhance healthcare for Victorians.
The Minister for Health remarked that partnering with a global leader in digital health innovation such as Sheba Medical Center presents an excellent opportunity for Victoria.
The Deputy Vice-Chancellor of Monash University highlighted the institution’s history of translating research into practical applications, underscoring that the partnership is another step towards improving health outcomes through the integration of research and translation.
The Director-General of Sheba Medical Centre stated that that the partnership aims to advance healthcare and promote economic growth while shifting the future of medicine towards prevention.
The Medical Technology market is expected to generate revenue of approximately US$579.40 billion by 2023. The largest segment of the market is Medical Devices, which is projected to reach a market volume of US$470.60 billion in 2023. Despite a regression in revenues in 2020 due to decreased routine medical treatments apart from COVID-19 treatments, the market has bounced back strongly in 2021. The market is expected to exhibit an annual growth rate of 4.91% between 2023-2027, resulting in a market volume of US$701.90 billion by 2027.
The increasing prevalence of chronic diseases and the emphasis on early diagnosis and treatment by healthcare agencies are among the factors driving growth in the medical technology market. The Medical Technology market is essential to the healthcare sector, with a focus on diagnosing and treating health problems, conducting genetic research and improving physical mobility. Its multifunctional usage and health improvement attributes make it a key player in the industry with steady growth.
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Nanyang Technological University, Singapore (NTU Singapore) has launched a new initiative to boost its innovation capabilities and accelerate research commercialisation to support Singapore’s drive toward an economy based on innovation and knowledge.
The University will ramp up its educational programmes to nurture entrepreneurs and create a more conducive environment for mentoring and supporting students, faculty, and alumni looking to turn their ideas into market-ready products through its NTU Innovation and Entrepreneurship (NTU I&E) initiative.
“Our vision is to create a vibrant innovation and entrepreneurship ecosystem covering the entire spectrum of activity, from cultivating an entrepreneurial mindset through holistic education and experiential learning to starting a business,” says Professor Louis Phee, Vice President for Innovation and Entrepreneurship and Dean of the College of Engineering.
Prof Louis, who leads the NTU I&E initiative, stated that they aspire to be a fertile breeding ground where innovative ideas, supported by a solid foundation in education and research, blossom into successful commercial entities that ultimately benefit Singapore’s economy. With digitalisation and sustainability at the forefront of new industries, NTU believes that the skills and knowledge students require to be successful are also evolving rapidly.
The North and South Spines of the University’s main campus will house the new NTU Innovation Port, a physical and digital one-stop shop for all things innovation-related. The centre will provide a forum for the NTU community and external partners to discuss start-up and innovation concepts, as well as assist industry partners seeking to collaborate or license technologies.
NTU I&E consists of both the revamped NTU Entrepreneurship Academy (NTUpreneur) and the University’s existing innovation and enterprise company NTUitive, which focuses on commercialising innovations and incubating start-ups.
The I&E initiative is part of the NTU 2025 Strategic Plan, an ambitious road map announced in 2021 that guides NTU toward becoming a global university founded on science and technology and that cultivates leaders capable of making a positive societal impact through interdisciplinary education and research.
The Overseas Entrepreneurship Programme is one of NTU’s most successful entrepreneurship plans. More than 320 students participated in the programme, travelling to the United States, Europe, China, Southeast Asia, and Australia to work with start-ups and accelerators. After graduating, 45 of these students have been inspired to start their own businesses or join a start-up.
The NTU I&E initiative aims to build on these achievements. Students from all disciplines will benefit from improved and easier access to mentorship, entrepreneurship modules and courses, and more internships through NTUpreneur.
Students will participate in experiential learning programmes such as innovation challenges, training boot camps, and workshops as part of their journey of exploration and discovery. In addition, the Overseas Entrepreneurship Programme will be expanded to include more countries such as Indonesia, Vietnam, Thailand, Sweden, and Finland. The number of available placements will also be increased.
Recently, over 40 NTU innovations and start-ups were showcased at the exhibition area of the I&E launch event to inspire students and faculty. Deep tech software powered by blockchain and artificial intelligence (AI) to robotics, food technology, and health and biomedical devices were among them.
NTU’s I&E efforts align with Singapore’s Research, Innovation, and Enterprise 2025 Plan and will contribute to the city-upcoming state’s Jurong Innovation District. Many of NTU’s start-ups and spin-offs are currently housed at the NTU Innovation Centre on the NTU Smart Campus and the nearby CleanTech Park, putting them at the epicentre of Singapore’s Industry 4.0 transformation.
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The HKSAR government has established the Committee on Innovation, Technology and Industry Development (CITID). The Hong Kong Innovation and Technology Development Blueprint (the Blueprint) was promulgated by the government and with the establishment of the Committee on Innovation, Technology and Industry Development (CITID), cooperation among stakeholders will be improved, and the growth of innovation and technology (I&T) in Hong Kong will be facilitated. The Secretary for Innovation, Technology and Industry will serve as the Chair of the CITID.
The Committee on Innovation, Technology and Industry Development (CITID) has been established by the government to advise on the strategic development of innovation and technology (I&T) in Hong Kong. The CITID will focus on the following key areas:
- Determining Focus Areas, Priorities, and Key Performance Indicators: The CITID will work towards facilitating the development of the I&T industry in Hong Kong, with a specific focus on areas highlighted in the Hong Kong Innovation and Technology Development Blueprint. To achieve this, the committee will establish priorities and key performance indicators to guide its efforts.
- Promoting Research and Development: To encourage research and development in Hong Kong, the CITID will formulate strategies and measures that promote the commercialisation of research outcomes.
- Nurturing and Attracting I&T Talent: The CITID will also develop strategies and measures to nurture, attract and retain I&T talent. This will help ensure that Hong Kong has the necessary expertise and human resources to support the growth of the I&T industry.
- Developing Key I&T Infrastructure: To support the development of the I&T industry, the CITID will also prioritise the development of key I&T infrastructure. This may include initiatives related to technology parks, data centres, and other relevant infrastructure.
- Promoting New Industrialisation: Finally, the CITID will also provide recommendations on strategies and measures to promote new industrialisation in Hong Kong. This may include initiatives to develop new industries or to enhance the competitiveness of existing ones.
The CITID is composed primarily of experts and representatives from academia, industry, information technology, and other relevant sectors, as well as government officials. These members are appointed by the Secretary for Innovation, Technology and Industry and serve a two-year term.
OpenGov Asia reported on the release on the release of the Hong Kong Innovation & Technology (I&T) Development Blueprint which aims to establish a clear development path and formulate systematic strategic planning for I&T development over the next five to 10 years.
The Secretary for Innovation, Technology & Industry provided information regarding the blueprint and emphasised that it represents a comprehensive and systematic plan for the development of innovation and technology in Hong Kong, created by the government after years of effort.
The government will implement the blueprint through four primary development directions, which are:
- Enhancing the I&T Ecosystem and Promoting New Industrialisation: The government aims to create a conducive environment for innovation and technology, thereby promoting new industrialisation in Hong Kong.
- Enlarging the I&T Talent Pool: The government aims to expand the talent pool of innovation and technology, creating a strong foundation for sustainable growth.
- Promoting Digital Economy Development and Developing Hong Kong into a Smart City: The government aims to develop Hong Kong’s digital economy and transform the city into a smart city that can proactively integrate into the overall development of the country.
- Consolidating Hong Kong’s Role as a Bridge Connecting the Mainland and the World: Finally, the government aims to strengthen Hong Kong’s position as a bridge between the Mainland and the rest of the world, facilitating collaboration and cooperation in innovation and technology.
