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Indonesia's Joko Widodo at Bloomberg New Economy Forum

Bloomberg Live10:52

Transcription

Thank you, John. Your Excellency, distinguished guests, ladies and gentlemen.

It is a great honor for me to speak before you today. When I look back at Indonesia's journey of the past decade, I see one clear lesson. Change is never easy, but change is necessary.

When I first became president, I had a simple question: How can we build a strong economy for 280 million people? We knew there were no shortcuts. That is why we focus on the basics: roads, seaports, airports, power plants, and digital networks, because without strong infrastructure, an economy cannot grow.

And Indonesia has also made great progress in digital infrastructure: data centers, launching new satellites, expanding digital networks, and improving connectivity across the nation. We introduced regulations that encourage local businesses and startups to grow.

And today, we have strong reasons why building infrastructure and introducing regulations are very important before moving into the intelligent economy.

First, it is because infrastructure provides the foundation for connectivity, data flow, and technological integration. It is the best backbone that makes the intelligent economy run.

And second, with the right regulations, this ecosystem can grow stronger and faster, allowing innovation, technology, and entrepreneurship to drive together. This is how new opportunities were born.

Indonesian startups like Gojek, Tokopedia, Hello Dog, Traveloka grew in an ecosystem that supported them to grow. Cris Indonesia makes digital payment easy and universal. Today, a street vendor in a small village uses the same system as a big company does in Jakarta.

And these days, Indonesia is also learning how to make better use of data, technology, and resources through downstream initiatives and the EV battery sector. This is a step in the direction of an intelligent economy.

On the other hand, we ensure that our young people and our SMEs are trained with the digital and data skills to drive. And we also ensure that this growth is sustainable for our people and our planet.

One more thing: Indonesia is a part of the global supply chain for electric vehicle batteries. For us, this is not only about economics. It's about building a strong foundation for the future.

This story shows one important thing. When the government builds the right foundations, innovation will follow. With all these efforts together, they form the ecosystem and foundation of Indonesia's new economy. And with a strong base, we are ready for the next stage: the intelligent economy.

The intelligent economy is based on how well we use data and information, because data and information is not just power; it is capital. It is the new word that defines competitiveness and national strength. We know this is a process to collect, to analyze, and to appraise data and information to make the best decisions and also to make good policies.

And for the young generation, it is our responsibility to ensure they must understand AI and they study AI, because the future is there. It is also time for us to redesign how humans and machines build the future together from data and machine learning. The intelligent economy is not only about technology; it is about preparing people.

Then, the other big question may arise in our minds: Will job opportunities disappear in the era of the intelligent economy? No. The answer is no. I really disagree that job opportunities will disappear. In fact, I believe that there will be more jobs and more opportunities to come, if if we make sure our people are ready for them. We must ensure that they know and they study AI, coding, algorithms, and also about machine learning. This is something fundamental. We must introduce, we must prepare, we must train them to get good digital literacy and skills.

That is why this is not only Indonesia's story; it is also the story of Southeast Asia. Across the region, millions of young people are building startups. Millions of small businesses are moving online. New unicorns are emerging. Southeast Asia is no longer just a market. It is becoming a global force. The next unicorn may not come from Silicon Valley or Shenzhen. It may come from Jakarta, Singapore, Bangkok, Kuala Lumpur, Manila, or Hanoi.

On the other hand, by applying the intelligent economy, we should redefine our systems. We should redefine our processes. We should redefine our strategies to get better income, to get better economic growth, to get a better life for the people.

For me, this is not only a national responsibility; it is also a call to international institutions like the IMF and World Bank. They should redefine their financial instruments, their financial systems, and their digital infrastructure. And for the WTO, they should redefine their trade systems, and they also should redefine their tariff systems. In my opinion, we will redefine almost in all sectors, but it can be from education and then health at first. We must redefine the processes, the systems, and the strategies so we can grow better and faster.

Ladies and gentlemen, Indonesia's journey shows that transformation needs courage, persistence, and belief. We are not finished. We are still building. With strong foundations, innovation, and global collaboration, Indonesia and Southeast Asia will continue to grow in this new era, in this new era of economic cooperation and collaboration to run an intelligent economy. And I believe that in this new economy, the intelligent economy, nations, companies, and societies that can integrate intelligence into governance, industries, and social systems will grow better and faster. And I also believe that in the next five to 10 years to 15 years, there will be a big humanoid robotic revolution. And there will be a big AI revolution. So, we were of this.

Thank you.