Chineseowned app TikTok on Thursday said it regretted the Indonesian government's decision to ban ecommerce transactions on social media platforms and particularly the impact it would have on the millions of sellers who use TikTok Shop.But TikTok Indonesia said in a...
JAKARTA, Indonesia — Chinese-owned app TikTok on Thursday said it regretted the Indonesian government's decision to ban e-commerce transactions on social media platforms and particularly the impact it would have on the millions of sellers who use TikTok Shop.
Indonesia banned goods transactions on social media platforms such as TikTok in a bid to protect small businesses from e-commerce competition, accusing them of predatory pricing. During an inspection to Southeast Asia’s largest wholesale market Tanah Abang in Jakarta on Wednesday, Minister of Cooperatives and Small and Medium Enterprises Teten Masduki said he found that sellers were experiencing a more than 50% loss of profits because they could not compete with imported products sold online at much lower prices.
The move came after TikTok CEO Shou Zi Chew pledged at a forum it organized in Jakarta in June that it would invest billions of dollars in Indonesia and Southeast Asia over the next few years. He did not provide a detailed breakdown of the spending plan, but said it would invest in training, advertising and supporting small vendors looking to join its e-commerce platform TikTok Shop.
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