Indonesia is becoming a hotspot for major tech investments, as evidenced by the recent high-profile visits of two industry giants.
The spotlight first fell on Apple's CEO Tim Cook, who met with Indonesian President Joko Widodo on Apr. 17, hinting at potential manufacturing ventures in the country, according to VCPost.
Not to be outdone, it is also reported that Microsoft's chief Satya Nadella followed suit less than two weeks later, announcing a hefty $1.7 billion investment in new cloud and AI infrastructure during his visit on Apr. 30.
Indonesia Tech Sector
The consecutive visits from the CEOs of Apple and Microsoft indicate Indonesia's potential as a hub for tech investment, shortly after the country's presidential elections were resolved, providing a sense of clarity and stability for potential investors.
Largely, The Straits Times also noted that it is fueled by Indonesia's status as the largest economy in Southeast Asia.
Muhammad Habib Abiyan Dzakwan, an expert from the Centre for Strategic and International Studies, underlined Indonesia's thriving digital economy, characterized by a wealth of promising startups and strong e-commerce activity.
With a population of over 277 million people, Indonesia represents more than 40% of the region's population, making it a key market for digital platforms. TikTok's recent acquisition of Tokopedia further solidifies Indonesia's allure for tech investment.
Additionally, Indonesia is home to a wealth of natural resources that are desirable assets for tech companies, like nickel.
Indonesia's goal is to become a developed country by 2045, utilizing the digital and green economies to propel growth, and this goal is in line with efforts to attract more tech investment.
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