Indonesia will conduct the second World Conference on Creative Economy (WCCE) which will be planned to take place in Bali on November 2018. The Ministry of Foreign Affairs and the Creative Economy Agency (Bekraf) said that the creative economy is one of the booster of economic growth and development in the future by cultivating Indonesian culture. The upcoming WCCE 2018 is expected to arrange a basic standard for creating a conducive environment to the growth of Indonesia’s creative economy.

The creative economy have been growing very impressively in this country and becoming an important contributor to social and economic development. Startup companies that based on information technology, such as Go-Jek, Traveloka, Tokopedia and BukaLapak that started their business in the last few years, now each value has exceeded more than one billion USD.

Those four Indonesian startup companies have already been becoming unicorns because each asset is one billion USD or more. Vice Chairman of Bekraf, Ricky J Persik, revealed that the creative economy sector has contributes 7.43 percent of the total GDP in Indonesia, or about 70 billion US dollars.

Approximately 17 million people are worked in the creative economy in Indonesia. "One of the challenges is how to bring this creative industry into a main booster of the country’s economic sector in the future," said Ricky. The creative economy is predicted to be one of the booster of economic growth and global development in the future.

Now the creative economy has became an economic booster with a capitalization of 2.25 trillion US dollars, which provides nearly 30 million jobs worldwide. The more important fact is that the contribution of the unicorn companies are not only looking to the company’s economic value and financial benefit, but have also been able to empower the local community in an inclusive way.

Indonesian Comics, Main Sector of Creative Economy

Indonesian comics are growing as the platform allows by the readers to read them through mobile phones or computers. Head of Creative Economy Board (Bekraf) Triawan Munaf feels optimistic that comics have great potential that will push the creative economy of the country.

"The synergy among the various sub-sectors of the creative economy will strengthen the industry, and the comics are the main sectors," Triawan said. The managers of The Intellectual Property of Indonesia which focus on unity of comic industry in Indonesian Comics Association (AsosiasiKomik Indonesia/AKSI).

Faza Meonk as Chairman of AKSI and Imansyah Lubis as the General Secretariat of AKSI admited that in a few years Indonesian comics have successfully collaborated with some other entertainment industries. In 2017, there are two Indonesian movies which are adapted from the comic book, "Valentine" and "Si Juki the Movie."

Moreover, currently the collaboration among comics with games, performing arts, and music has been conducted. "Indonesian Comics are the main of all that (creative economy industry). Comics are the first idea of character that then appear to become some characters in some stories. So the basic story is from comics," said Triawan.

The government promised to support constantly to push the growth of creative economy in Indonesia, including comics industry as one of its focus. Next year Indonesia will become a Country Focus in London Book Fair. Indonesian comics will be the one of the center of attention at London Book Fair next year.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

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It is not wrong to think of Jakarta as a fintech center that will drive the Indonesian business in the future. The fintech investors all over the world tend to be more confident in investing their money for developing countries, especially countries in Asia such as Indonesia, Thailand, Malaysia, etc. Compare to theseSouth East Asia countries, even Asia, Jakarta (as the capital of Indonesia) is the most potential choice of investment for various reasons. The other developing countries in Asia that just aware of the importance of technology of non-cash transactions, are on the next list.

Jakarta has become the city with the most rapid development of infrastructure compared to other cities in Indonesia, even in Southeast Asia. The proof is the appear of towering office buildings and luxury malls that became the favourite place of Jakarta people to have relax.

That proof can be a benchmark for the progress the economic aspect of a city in the world. Even the capital that is also the center of business has also started to improve in terms of transportation, payment, etc., such as online transportation services, and also the application of digital payments (e-money). It’s really help the citizens.

The appear of fintech start up service currently in Jakarta is very useful for the community, especially those who have never connect with bank. It can be the answer why the development of startup or fintech business in Jakarta increasingly becomes the best choice by the investors both domestic and foreign. During 2017 fintech activities is mostly dominated by payment and lending such as e-money at toll gates, Transjakarta tickets, and also shopping mall in Jakarta.

And if there is cooperation between bank with fintech technology (startup fintech), then there will be increased fintech activities in all big cities across Indonesia in 2018, as has been stated by Digital Artha Media (DAM). While the Indonesian Chamber of Commerce (KADIN) predicts, investment in the sector of fintech will exceed Rp 105.6 trillion in 2018.

So it is common if the developing of fintech technology in a country firstly will start by penetrating on segment or market at Jakarta, as the bigggest city, then continue to other big cities, such as Surabaya, Medan, Bandung, Semarang , Makasar, and others.

And when fintech technology has developed especially in big cities of Indonesia, automaticly its technology would have been able to catch up with some major cities in the world, just like Singapore. Nowdays Singapore is becoming one of the successful cities to adopt fintech technology. More over the Singapore state plans to make their country as the fintech center of the world.

So the only homework for start-up fintech entrepreneurs is, spreading their digital services all over Indonesia, so that the majority of Indonesia people (about 270 million of population) can understand and familiar with the service. And then, our country can take over the position as the fintech center of the world.

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.
Email : info@investinindonesia.id
Hotline/Whatsapp : +62812-1000-7112
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The post Fintech Will Spread To Big Cities appeared first on INESIA.