Jakarta (VNA) - The Indonesian economy could become the world's 7th largest economyby 2030 if suitable measures are taken to speed up the digitalisation of economic and financial areas, President Joko Widodo has said.

The President said at the Financial Services Authority (OJK) VirtualInnovation Day on October 11 that: "If we control it quickly and accurately,Indonesia has great potential to become a digital giant after China andIndia, and the seventh-largest economy in the world in 2030." 

Currently, digitalisation is growing rapidly amid the COVID-19pandemic. Digital banks, digital insurance companies, electronic paymentcompanies (e-payments), and technology-based financial services (fintech) areemerging and become more accessible to the public. However, various fraudsand other financial crimes have emerged amid rapid digitisation.

Hence, President Widodo reminded theOJK and the financial service industry to maintain and oversee thedevelopment of digitalisation of the financial sector to contribute to thecommunity's economy.

The President called for the digital economicand financial ecosystem to have policies in place to mitigate the risk oflegal and social issues that will create problems for the community.Moreover, the digital ecosystem must offer protection to the community./.