Industry Ministry: Indonesia Has Not Yet Fully Optimized the ASEAN Market Potential

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October 16, 2025 | 06:07 pm

TEMPO.CO, Jakarta - Deputy Minister of Industry, Faisol Riza, stated that Indonesia has yet to fully optimize the market opportunities available within Southeast Asia. The region's massive 693 million population, he noted, presents potential for boosting the Indonesian economy if the market were effectively utilized.

Faisol asserted that Indonesia must capitalize on the ASEAN market to advance the domestic industrial sector. "It is important for us to self-reflect. It is our significant task to explore markets beyond our traditional commodities," Faisol said during a discussion on the First Year of the Prabowo-Gibran Administration at JS Luwansa Jakarta on Thursday, October 16, 2025.

Faisol offered the example of Alfamart, founded by Indonesian entrepreneur Djoko Susanto, which has successfully expanded its business to operate 2,000 outlets in the Philippines. He emphasized that trade potential is greatly enhanced by establishing local outlets abroad, as this makes Indonesian products more widely recognized by international consumers.

Furthermore, Faisol highlighted that the presence of foreign retail chains operating within Indonesia, which partner with domestic companies, also creates opportunities for optimal market expansion. He cited examples such as Circle K, Family Mart, and Lawson.

"We hope that these outlets can become our trade envoys to initiate broader market penetration for our exports," Faisol stated.

Faisol stressed that market expansion is not solely the responsibility of business actors. The government, he said, must actively assist entrepreneurs in gaining customers to create a vital multiplier effect for the economy and bolster domestic industries.

In Faisol's vision, successful market expansion would result in the creation of millions of new jobs with a monthly circulation of money potentially reaching Rp65 trillion. This scenario, he concluded, would simultaneously address longstanding Indonesian issues concerning weakening purchasing power and limited employment opportunities.

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