Friday, 14 December 2018 | 21:19 WIB

House Asks Unicorns to Maintain Investments, Stability of Rupiah

House discussing rupiah and investment

JAKARTA, NNC - The House of Representatives asks unicorns to maintain the investment and stability of the rupiah. According to him, with the support of a large population and increasing number of internet users, Indonesia is slowly moving towards the largest digital economic ecosystem in Southeast Asia.

The Indonesian Internet Service Providers Association (APJII) said 143.26 million Indonesians used the internet by the end of 2017.

This was said by Deputy Chairperson of the House of Representatives Commission I Satya Yudha. He explained that Gojek should not expand into Vietnam, amid weakening domestic economic markets. Gojek should instead increase electability in the domestic market like China did.

Obviously this amount is a very lucrative market for startup companies which dream of becoming unicorns. There are currently four unicorns, namely Gojek, Tokopedia, Traveloka and Bukalapak.

"The domestic market is still broad. Players are encouraged to become domestic rulers, only then can control foreign markets. Learn from China that has comparative and competitive advantages with technology," Satya said in a discussion in Jakarta on Wednesday (9/12/2018).

"Expanding into Vietnam, those who will enjoy later are them especially in terms of the value chain," he added.

Meanwhile, Member of the House of Representatives Commission XI from the PDI-P faction Eva Kusuma Sundari assessed that the presence of the unicorns helped the government that is trying to improve economic growth and innovation in the country.

Even so, Eva said, these unicorns should be able to better understand their role in the Indonesian economic movement, while the rupiah is weakening.

"Indonesia needs to increase the competition index so that unicorns stay working on the domestic market, because our potential is very large," she explained.

Meanwhile, Director of the Institute for Development of Economics and Finance (INDEF) Enny Sri Hartati urged the Government to make clear rules about the performance of unicorns.

Enny assessed the government lacks anticipation of changes in the business environment that moves in the digital direction.

"The regulation does not exist. The current ones are only partial. For example, ride sharing are only regulated by Transportation Ministry, Government Regulation. Whereas unicorn businesses such as GoJek are expanding into 10 fields," said Enny.

"It needs a clear road map and blueprint. The polemic can be ended if the regulator has rules. The digital economy is a necessity. There are clear rules to minimize excesses. We must maximize the benefits," Enny concluded in a discussion entitled "The role of Unicorn in maintaining investment momentum and Maintaining Stability," in Media Center, Parliament Building, Jakarta.