ASEAN to open markets for regional startups

Ubud, Bali (ANTARA News) - Member countries of the Association of Southeast Asian Nations (ASEAN) are expected to open their markets for startup companies from the region, especially unicorn startups, to boost development of the regional digital economy.

"We also discuss ways to open the markets within ASEAN and expand presence of ASEAN unicorns in other ASEAN countries," Indonesias Communication and Informatics Minister Rudiantara noted on the sidelines of the annual Telecommunications and Information Technology Senior Officials Meeting (TELSOM) and ASEAN Telecommunication and Information Technology Ministers Meeting (TELMIN) here on Wednesday.

He explained that unicorn startups from other countries will enter ASEAN markets that did not have a significant impact on the regions economy.

At the meeting, Rudiantara met with representatives from the Philippines to discuss the possibility of the countrys unicorn operating in Indonesia in the field of services that had yet to be offered by local companies.

"If we already have local companies in the same field, of course, I will prioritize the local ones," he emphasized.

Development of startup companies has become a point of discussion at the TELSOM and TELMIN to boost digital economy in the region.

Rudiantara affirmed that the ASEAN should hold a startup hackathon to encourage development of human resources to catch up with the rapid technological developments.

The TELSOM TELMIN 2018 is being held in Ubud, Bali, on Dec 3-6.

Source: ANTARA News

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