GoTo, the Indonesian tech giant that owns ride-hailing and delivery service Go-Jek and e-commerce platform Tokopedia, had an eventful 2023. In June, there was a management shake-up, with Patrick Walujo replacing Andre Soelistyo as president director (Soelistyo now holds a position on the Board of Commissioners). Then in December, GoTo reached a deal with TikTok, … Read more
Over the past ten years, China has emerged as a significant foreign investor in Indonesia. Between 2019 and 2022 alone, according to data from the Ministry of Investment, Chinese companies invested $20.9 billion across 9,080 projects in the country. Chinese investments in Indonesia can be categorized into two distinct groups. The first are those of … Read more
Advertisement TikTok’s abrupt suspension of its online retail business in Indonesia last week, in order to comply with the government’s social media e-commerce ban, dealt a heavy blow to its rapidly expanding e-commerce operation. This situation is not one of governments picking losers, but rather of losers shaping policy, as declining businesses often seek to … Read more
Advertisement On Wednesday, Indonesia’s Trade Minister Zulkifli Hasan announced that the country was banning e-commerce transactions on social media networks, dealing a major blow to the regional plans of the Chinese firm TikTok. According to a Reuters report, Zulkifli told a news conference that the regulation is intended to protect offline merchants and marketplaces. He … Read more