The Indonesian government is aiming to modernize 500 cooperatives by 2024. In a story published by Antara News, the Coordinating Minister for Economic Affairs, Airlangga Hartarto said that digitizing cooperatives in the country is crucial in this digital era.
Indonesia has a vibrant cooperative culture that has over the years supported the lives of the people and significantly contributed to the growth of the economy. The plans to digitize cooperatives in the country will help to supercharge these important institutions so that they continue to accelerate social and economic transformation in the country.
Currently, the digital market in Indonesia has reached USD 44 billion and by 2025, it is predicted to reach around USD 125 billion, the minister noted.
The government has further encouraged the development of cooperatives by issuing the Job Creation law in 2020, which simplifies the establishment of cooperatives and makes it easier for cooperatives to develop and become competitive.