Jakarta, 19 February 2025 – With internet penetration now close to 80% of the country’s population, Indonesia needs to ensure access, education, and security to accelerate its digital revolution, said Neneng Goenadi, Country Managing Director of Grab Indonesia.

Neneng Goenadi was speaking at the panel titled, "Racing Against the Clock: Accelerating Indonesia’s Digital Transformation" on the second day of the Indonesia Economic Summit (IES) at Shangri-La Hotel in Jakarta, Indonesia.

The panel explores how Indonesia has gone so far in the digital sector with unexpected digital adoption happening on a daily basis but with significantly easier access, there are risks of security and some people may see technology starting to become a liability.

“Digitalization offers good opportunities for people in finding jobs and everything but integrating digital and financial literacy is essential,” she said. “From the security perspective, everyone must understand data privacy. That’s why we work together with the Ministry of Communication and Digital and National Cyber and Crypto Agency to make sure every company understands data privacy.”

Byung Joon Han, CEO and Co-Founder of Silicon Box, however, noted that the security risk should not slow the digital transformation down.

Pandu Sjahrir, Founding Partner of AC Ventures, said while Indonesia is blessed with natural resources and for the last 10 years the country has been very good on its downstreaming efforts, industry leaders must start to ponder what technology means for their industry and to start paying attention to human capital.

Lee Xiaodong, Founder and CEO of Fuxi Institution, said technology to improve work efficiency is not an option. “We don’t have a choice in the new world,” he said. Lee Xiaodong also noted that with the rise of AI the industry must make sure the people understand the new technology and bring new opportunities instead of replacing manpower with it.

But Indonesia is not always at the forefront of digital adoption. Willson Cuaca, Co-Founder & Managing Partner at East Ventures, said 16 years ago, there was no such thing as a digital ecosystem. East Ventures witness how ‘luck’ plays a role in the country’s digital development.

“In Indonesia, we have to be pragmatic dreamer,” Willson Cuaca said. “There are so many problems in Indonesia and the thesis we developed was very simple, whether [the startups] are making things cheaper or making life simpler and easier.”

East Ventures has a role in shaping Indonesia’s digital landscape by being the most active venture capital which has backed up 300 startups including unicorns.

In a short two decades, Indonesia has come so far. According to a report by Google, Temasek, Bain & Company, Indonesia’s gross transaction value in the digital economy is expected to reach between $200 billion and $360 billion by 2030. The country’s digital economy GMV was $90 billion in 2024.

According to East Ventures’ Digital Competitiveness Index, Indonesia’s digital competitiveness has consistently improved over the past five years. The report noted that 40% of the total digital economy transactions in ASEAN came from Indonesia in 2022.

About the Indonesia Economic Summit (IES): The Indonesia Economic Summit (IES) is an annual initiative of the Indonesia Business Council (IBC). Initiated as a high-level forum for collaboration and innovation, IES seeks to promote competitiveness, inclusive growth, and sustainable prosperity for Indonesia. This forum reflects IBC’s commitment to advancing Indonesia’s role in the global economic arena.

About the Indonesian Business Council (IBC): The Indonesian Business Council (IBC) is an association of CEOs and business/industry leaders of leading companies in Indonesia, established in February 2023. IBC seeks to promote and strengthen Indonesia’s competitiveness, encourage collaboration, and enhance the contribution of the Indonesian private sector to economic growth and prosperity, through advocacy. For media inquiries, please contact:
Ayu Dea: +6287887213208
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