The Consul General of Indonesia in Hong Kong said on Friday that the SAR and Jakarta should look into developing a cross-border digital payment system to enhance e-commerce and travel activities between the two sides.

Speaking to RTHK after attending a forum organised by the Belt and Road Office, Yul Edison said officials can take reference from a digital payment link recently developed by Hong Kong and Thailand.

He said his country has seen a major boom in its digital economy, and a cross-border payment system is essential in boosting financial ties between the SAR and Jakarta.

“There is an obstacle right now in terms of cross-border payments. In Indonesia, right now we have a new system called QRIS (Quick Response Code Indonesian Standard), and this cross-border payment is used in Singapore, Malaysia, and soon in Japan,” he noted.

“We need to discuss further with Hong Kong. We would like to expand the [the ORIS system] to also cover Hong Kong. This could help with cross-border trade.”

Meanwhile, Edison said there are numerous opportunities for Hong Kong firms to tap into Indonesia’s fast-growing digital sectors, such as e-commerce, fintech and health.

He pointed out that Indonesia is now the largest digital economy among ASEAN members, with the value of its internet economy estimated to be at around US$146 billion.

The Indonesian Consul General also expressed hopes for companies in his home country to raise capital in Hong Kong – now that Indonesian startups can apply for secondary listing in the city.

“There’s a potential for Indonesia’s mining companies to list in Hong Kong. It’s our job at the consulate general to convince them to come to Hong Kong to do dual listings,” he said.