Remember that we asked a question before – guess how many apps among the top 45 in Finance Category of Google Play Store Indonesia were from Chinese companies?
The answer is 19.
42% of the TOP 45 finance apps are from Chinese companies.
(Contact us if you want this full image or more details about these apps)
If you read our previous articles, you will already know about the Chinese gold rush that is happening across Indonesia. Last year, Momentum Works hosted a sharing session in Singapore talking about the “Chinese gold rush in Indonesia”. It received excellent feedback and interest in what is going on currently.
Due to this, in February Momentum Works held an investor event in Hangzhou to discuss the hidden Indonesia opportunities with our Chinese friends.
Jianggan Li, Founder & CEO Momentum Works, firstly talked about the current overview of the Indonesia market and discussed some hidden opportunities in agriculture, fintech, and e-commerce logistic.
Shaiful Mustaafa, who launched the first online financial marketplace in Indonesia, then shared his experiences and advice about the consumer finance market.
Burning questions
Afterwards, as always we asked the attendees what questions they would like answered and discussed. This time, most of the audience were Chinese investors or startups who are interested in venturing overseas, the questions they asked were generally more typical and targeted. Here’s the list:
- Risks and challenges of venturing and investing in Indonesia
- Chinese funds in Indonesia and successful case study
- The market prospect of new retail and e-commerce industry
- Current status of payday loan market in Indonesia
- Government policy about the payday loan in Indonesia
- Current status of inclusive finance, any other opportunities than the payday loan?
- Tips/suggestions when partnering with government and conglomerates
- Tax policy in Indonesia
- Import policy and challenges
- Current restrictions
During the discussion, we noticed that a lot of information and perceptions that people had previously relied upon is not very accurate. Of course, it’s very easy to get information in today’s digital era. However, confirming the accuracy of this information solely relying on the internet is not a good idea. Especially working in this industry, we would recommend that people who are interested in the market carry out market visits whenever possible. They need to talk with local customers there, learn about the the legal and regulatory frameworks, and understand how the current players work in the market. This can help you get the accurate and useful information to prepare for entering this highly competitive market.
As this event is a private session, we wouldn’t share too many details about the discussion. Please write to us [email protected] if you would like to know more details or insights of Indonesia market.
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Thanks for reading The Low Down, insight and inside knowledge from the team at Momentum Works. If you’d like to get in touch with us about any issues discussed in our blog, please drop us an email at [email protected] and let us know how we can help.
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