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INDONESIA MUST ACCELERATE DELIVERY OF DIGITAL STRATEGY TO ACHIEVE GOVERNMENT’S “TOP 10 GLOBAL ECONOMY BY 2030” AMBITIONS, SAYS GSMA REPORT
The new report from the GSMA, published at its Indonesia Digital Nations Summit in Jakarta, evaluates Indonesia’s progress to becoming a digital nation and recommends action points to accelerate progress
JAKARTA, Indonesia, Dec. 8, 2023 /PRNewswire/ — The Indonesian government has made strong steps towards becoming a leading digital nation, according to a report published today at the GSMA’s Indonesia Digital Nations Summit in Jakarta. However, the country needs to adopt a “whole-government” approach and be more joined-up around critical policy requirements, if Indonesia is to achieve its goals of digitally transforming society and becoming a top 10 global economy by 2030.
By doing so, Indonesia stands to unlock circa $18 billion in investment from the mobile industry between 2024 and 2030, mostly on 5G networks. This, in turn, is expected to contribute $41 billion to GDP over the next six years.
As part of its key recommendations, the GSMA report, entitled “Forging a resilient digital nation: Proposals for Indonesia’s future”, analyses Indonesia’s journey to becoming a digital nation and recommends action points the government and industry must expedite to achieve this transition. Above all, the report outlines opportunities to improve and accelerate progress in each of the five pillars – Infrastructure, Innovation, Data Governance, Security and People – that will help it meet its ambition to becoming one of the world’s top digital nations.
Digital nations incorporate digital technologies and services into all sectors of the economy, with the aim to drive productivity and improve the livelihoods of citizens. 5G is a key component of the infrastructure required to power future digital nations, given its ability to deliver reliable network-based services and enable the emerging technology that will help to reshape the local economy and modernise industries.
Julian Gorman, Head of APAC at the GSMA, said: “While Indonesia has achieved notable success in its journey to become a digital nation, transforming the country’s digital ecosystem won’t be possible without the necessary investment from the private sector. To unlock this, a whole-government approach is needed to ensure the right measures are in place which encourage this, including incentivising infrastructure investment, simplifying sector-specific fees, and cutting red tape.”
Despite the country consisting of over 18,000 islands, Indonesia has achieved an expansive network of digital infrastructure with 96% of the population now covered by 4G networks. However, 5G mobile connectivity will be crucial to achieving new economic targets and investment will require “policy imperatives” to accelerate the rollout of 5G infrastructure, where it is needed the most. These recommendations include:
Ensuring sustainable investments in digital networks
The rollout of 5G is set to drive an increase in smartphone demand and data traffic. In Indonesia, shipments of 5G models grew 54% in Q3 2023 and accounted for 19% of the total. However, operators’ ability to expand network capacity and coverage is often hindered by regulatory constraints, market structures and excessive tax burdens. This has created an investment gap where market conditions for private investment in telecoms networks are not favourable enough to meet ambitious national and regional digital policy targets.
Therefore, the GSMA report calls on all parts of government to work together with industry stakeholders to:
- Encourage voluntary infrastructure sharing (passive and active) to reduce the cost of network rollout, particularly in difficult terrains.
- Reduce red tape for obtaining the necessary permits and right-of-way (RoW) for cell-site location and fibre deployment to ease network rollout, particularly 5G densification. For example, the amendment of RoW rules in India in 2022 has been credited for the rapid rollout of 5G and fibre infrastructure in the ensuing months.
- Reduce and simplify sector-specific taxes and fees (including tower taxes and tower building permission fees, and various fees imposed by municipal authorities) to ease the cost burden of network rollout and operations and ensure the financial sustainability of the mobile industry.
- Provide policy incentives to encourage investment in infrastructure. In South Korea, government incentives in the form of tax credits and tax reductions for operators announced in 2020 helped unlock investment of around KRW25.7 trillion ($22 billion) in 5G networks.
- Allow further consolidation in the telecoms sector to drive synergies and the scale required for expansive infrastructure rollout.
Achieving sustainable spectrum pricing
As recently warned by the GSMA, Indonesia also risks a $14 billion (IDR 216 trillion) productivity loss to its economy, unless it focused on ensuring future mobile spectrum prices are sustainable. It therefore recommends that:
- Reserve prices are set conservatively below estimates of market value to enable price discovery and reduce the risk of unsold spectrum.
- Government reviews the formula for calculating annual spectrum fees (BHP IPFR) and consider adjustments to the parameters to provide the right long-term incentives and avoid disproportionate increases in costs that are not aligned with evolving market conditions.
- A clear spectrum roadmap is laid-out that considers not only current bands being planned but also the longer term needs for Indonesia, especially for mid-bands in the 2025–2030 timeframe. Greater certainty around the availability of spectrum and associated conditions is crucial for operators to prepare investment plans, secure financing and develop strategies for network deployment and service delivery.
The Indonesia Digital Nations Summit
The report findings were published as the GSMA hosted its Indonesia Digital Nations Summit at The Westin Jakarta. To download the Indonesia Digital Nations report, please click here.
Indonesia has emerged as a key player in the global community, and the full-day event provided a platform to explore the country’s digital landscape in the context of its digital ambitions and cultivate engagement aimed at harnessing the potential of its digital ecosystem.
The GSMA welcomed a distinguished roster of speakers to the stage for several keynotes, fireside chats, and panel sessions on topics such as the vision for digital Indonesia, the role of telecoms networks in supporting its digital future, and the potential for 5G in the country.
About GSMA
The GSMA is a global organisation unifying the mobile ecosystem to discover, develop and deliver innovation foundational to positive business environments and societal change. Our vision is to unlock the full power of connectivity so that people, industry, and society thrive. Representing mobile operators and organisations across the mobile ecosystem and adjacent industries, the GSMA delivers for its members across three broad pillars: Connectivity for Good, Industry Services and Solutions, and Outreach. This activity includes advancing policy, tackling today’s biggest societal challenges, underpinning the technology and interoperability that make mobile work, and providing the world’s largest platform to convene the mobile ecosystem at the MWC and M360 series of events.
We invite you to find out more at gsma.com
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
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3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
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Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
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