Jokowi said advanced technology made the world borderless, allowing trade to take place via e-commerce and online stores instead of via conventional markets and malls.

He further said the supply chain of raw materials, products and services had become global. 

"There is no longer a limit. Especially with social media, everything has become completely open and rapid," President Jokowi said, adding that entrepreneurs only had two options: to open or close their minds to facts. 

"For me, I have only one choice: to open. We must make sure that by being open, we dare to compete, to fight," Jokowi said. He said openness and competition would force Indonesia to improve its capacity and keep pace with neighboring countries. 

Giving an example, Jokowi said state-owned banks, state-owned oil and gas firm Pertamina and national flag carrier Garuda Indonesia had managed to improve their businesses amid tighter competition with foreign companies.

"State-owned banks now have good governance and increased annual earnings and their IT systems can compete with [those of] private banks," he explained. 

Explaining his experience in his keynote speech, Jokowi said he had faced business failures three times but kept trying until he succeeded.

The President gave tips to the participants of the meeting, "If you want to be an entrepreneur, don't think. Just dive in and go with the flow," he said. (ebf)

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