- Indonesia currently ranks only 16th in the global gaming market. However, in an effort to improve this position the government has introduced a new framework that it hopes will accelerate the development of the national gaming industry ("Industry") and optimize its economic potential through the issuance of Regulation of the President No. 19 of 2024 ("Regulation 19/2024"), which has been in force since 12 February 2024.
- Broadly speaking, Regulation 19/2024 stipulates that this acceleration is to be executed through a series of programs that take the form of development activities ("Programs"). Said programs are comprehensively detailed under the Appendix to Regulation 19/2024, which will serve as a set of guidelines for use by central and local governments during the establishment of sectoral policies, as well as other relevant stakeholders that are involved in the implementation of Programs.
- In terms of economic potential, one of the objectives of the new Programs is the overall enhancement of the industry’s value chain through the capture of at least 70% of the domestic gaming market and 10% of the global gaming market. In order to achieve this objective, eight key strategies have been outlined, including: 1) Research development; 2) Educational development; 3) Funding and financing facilities; 4) Provision of infrastructure; 5) Marketing systems development; 6) Provision of incentives; 7) Intellectual property facilitation; and 8) Protection of creative outcomes.
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