VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Indonesia's digital economy value has the potential to reach US$330 billion by 2030, Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar stated.

"Our digital economy is currently on a very strong growth path to reach that number," Siregar noted at "The 4th Indonesia Fintech Summit 2022" monitored online here, Thursday.

The government, the central bank, and OJK will need to cooperate closely to ensure the best policies and services to companies and startups that will make the target achievable.

Siregar said, the fast growth of digital innovation has left regulators with no other choice but to develop apposite approaches in following dynamic innovations.

To this end, he said, the best step for regulators is to strike a balance between promoting digital innovation and reducing the potential risks that may arise.

Currently, the domestic digital economy is worth over US$70 billion, the highest value in the ASEAN. With this, Indonesia can become a strong anchor for regional economic growth in the ASEAN, he affirmed.

In addition to the digital economy, several other factors that make Indonesia a strong anchor of ASEAN's economic growth are its demographics, comprising mostly youth, in addition to the lower middle-income age group that still has the potential to grow and develop.

"The ASEAN may be the only region in the world that can still enjoy healthy economic growth in the years to come," Siregar said. (Antaranews)

President Joko Widodo (Jokowi) and First Lady Iriana Joko Widodo arrived in Phnom Penh, Cambodia, on Wednesday night for the 40th and 41st ASEAN Summit.

The presidential airplane, Indonesia-1, carrying the President and his entourage landed at Phnom Penh International Airport at 7.35 p.m. local time on Wednesday.

Upon their arrival at the airport, the President and the First Lady were greeted by Cambodian Minister of Post and Telecommunication, Vandeth Chea; Indonesian Ambassador to Cambodia, Sudirman Haseng, and his wife; and Indonesian defense attaché in Phnom Penh, Mochammad Rizal, and his wife.

From the airport, the President went straight to the hotel where he will stay while in Cambodia.

Upon arriving at the hotel, the President was greeted by Coordinating Minister for Political, Legal, and Security Affairs, Mahfud MD; Coordinating Minister for Economic Affairs, Airlangga Hartarto; Foreign Affairs Minister Retno Marsudi; and home staff representative, Arif Gunawan, and his wife.

Earlier, Widodo had said that he will attend more than 20 meetings during the 40th and 41st ASEAN Summit and other summits until November 13, 2022.

One of Indonesia's focuses during the ASEAN Summit will be its ASEAN chairmanship next year, he added.

During its ASEAN chairmanship in 2023, the country will raise the theme “ASEAN Matters: Epicentrum of Growth.” (Antaranews)

Philippines' President Ferdinand Marcos Jr said on Wednesday the situation in Myanmar will be among several issues that will be addressed at the ASEAN summit.

"We will also address regional issues such as the pandemic and the situation in Myanmar, developments in the South China Sea and the ongoing conflict between Russia and the Ukraine among other important matters," Marcos said in a speech ahead of his departure for Cambodia where the summit is being hosted. (Reuters)

An earthquake with a preliminary magnitude of 5.0 hit Japan's Ibaraki prefecture, northeast of Tokyo, on Wednesday, but no tsunami warning was issued, the Japan Meteorological Agency said.

There were no immediate reports of injuries or damage, according to public broadcaster NHK. (Reuters)