Temasek mentions Indonesia and Singapore as the top two destination countries for technology investment in Southeast Asia or ASEAN in 2022. Because Indonesia attracts 25% of the total value of private funding in the region and in the long term it is considered attractive to investors. However, the existence of macroeconomic obstacles caused the value of private funding transactions in semester 1 2022 to fall by USD 2 billion on an annual basis or year on year (yoy) due to concerns related to profitability and valuation. Temasek Deputy Head, Technology & Consumer and Southeast Asia, Fock Wai Hoong, said that digital financial services, especially those that focus on B2B payments and loan services, have replaced the e-commerce sector as the top investment sector with a value of USD 1.5 billion in semester 1 2022. "Across Southeast Asia, including Indonesia, more than 80% of venture capitalists (VC) want to focus more on new sectors such as health technology (health tech), SaaS and Web 3.0, while the education technology (ed tech) sector experienced a decline after -pandemic as schools reopen," said Fock Wai Hoong in Media deep-dive discussion: e-Conomy SEA 2022 Report (Indonesia), Tuesday (8/11).
Fock Wai Hoong said Indonesia's digital economy will continue to attract investment because of its strong fundamentals. This is because Indonesia has a very active user base and a dynamic technology startup ecosystem. Fock Wai Hoong ensured that his party would also continue to support the development of technology and the digital economy. "Working closely with the business sector, government and society, Temasek is committed to using our catalytic capital to spur sustainable and inclusive growth in Southeast Asia's digital economy so that every generation can prosper," said Fock Wai Hoong. Fock Wai Hoong thinks the digital economy can play a positive role in adopting more sustainable habits by raising awareness among consumers, businesses, investors and governments.
