Blog > Marketplace News > TikTok CEO Will Meet With Indonesian President To Discuss A New E-commerce Business
TikTok CEO Will Meet With Indonesian President To Discuss A New E-commerce Business
Jayson 25 Oct 2023 08:56
According to media reports, TikTok CEO Zhou Shouzi will meet with Indonesian President Joko Widodo to discuss opening a new e-commerce business.
Indonesian Minister of Cooperatives and Small and Medium Enterprises Teten Masduki confirmed that TikTok has submitted a letter to meet with the president and that the meeting between the two is expected to take place between October 30 and November 5, 2023.
"TikTok executives did propose a meeting with the president," Teten told reporters on October 24.
Teten believes that TikTok will open a new e-commerce platform in Indonesia, which is inseparable from the income earned from operating TikTok Shop.
He said that based on reports he has received, TikTok Shop's monthly profits are as high as IDR 8-9 trillion.
"Yes, definitely the new e-commerce business, it is profitable, it was 8-9 trillion rupiah per month before, it is big enough, right? So it is impossible for them to leave," Teten said.
Teten also said that if TikTok opens a new e-commerce platform, they must first register with the Investment Coordinating Board (BKPM) and then, if the e-commerce platform is ready to operate, TikTok must apply for a license from the Trade Ministry (Permendag).
“Yes, whether it's opening a new platform or whether it's investing in a local platform, we don't know yet, we'll see,” Teten said.
In addition, according to feedback from sellers, an external text report has recently been circulated in many Indonesian seller communities. The main content is that the TikTok Shop Indonesia site will reopen on November 10.
The report stated that according to an "authoritative source", "TikTok Shop Indonesia site will resume operations on November 10 this year at the latest. TikTok's technical team works hard to ensure that the platform meets the necessary security standards and complies with the October 6 regulations
However, its authenticity has yet to be verified. It is understood that this article was uploaded by Twitter user @discountfess and was reposted by some Indonesian netizens and media. The blogger also hopes that "the resumption of TikTok Shop business in Indonesia next month will bring a lot of promotions."
It is worth noting that the content of the report has not been confirmed through TikTok Shop’s official channels, and its authenticity needs to be verified.
Indonesian Minister of Cooperatives and Small and Medium Enterprises Teten Masduki confirmed that TikTok has submitted a letter to meet with the president and that the meeting between the two is expected to take place between October 30 and November 5, 2023.
"TikTok executives did propose a meeting with the president," Teten told reporters on October 24.
Teten believes that TikTok will open a new e-commerce platform in Indonesia, which is inseparable from the income earned from operating TikTok Shop.
He said that based on reports he has received, TikTok Shop's monthly profits are as high as IDR 8-9 trillion.
"Yes, definitely the new e-commerce business, it is profitable, it was 8-9 trillion rupiah per month before, it is big enough, right? So it is impossible for them to leave," Teten said.
Teten also said that if TikTok opens a new e-commerce platform, they must first register with the Investment Coordinating Board (BKPM) and then, if the e-commerce platform is ready to operate, TikTok must apply for a license from the Trade Ministry (Permendag).
“Yes, whether it's opening a new platform or whether it's investing in a local platform, we don't know yet, we'll see,” Teten said.
In addition, according to feedback from sellers, an external text report has recently been circulated in many Indonesian seller communities. The main content is that the TikTok Shop Indonesia site will reopen on November 10.
The report stated that according to an "authoritative source", "TikTok Shop Indonesia site will resume operations on November 10 this year at the latest. TikTok's technical team works hard to ensure that the platform meets the necessary security standards and complies with the October 6 regulations
However, its authenticity has yet to be verified. It is understood that this article was uploaded by Twitter user @discountfess and was reposted by some Indonesian netizens and media. The blogger also hopes that "the resumption of TikTok Shop business in Indonesia next month will bring a lot of promotions."
It is worth noting that the content of the report has not been confirmed through TikTok Shop’s official channels, and its authenticity needs to be verified.
