TikTok invests US$ 10 billion (IDR 148 trillion) to help micro, small and medium enterprises (MSMEs) in Indonesia, as a form of appreciation to the Government of Indonesia for their support for TikTok.
TikTok investment in MSMEs
Shou Zi Chew, CEO of TikTok met with Zulkifli Hasan, Minister of Trade on June 14, 2023. Chew’s presence has had a major impact on the MSME ecosystem in Indonesia, where currently many MSMEs use the TikTok application to sell their products.
Chew explained that TikTok wanted to invest in the Indonesian MSME sector as a form of gratitude for the issuance of the TikTok Shop permit in Indonesia, and for the country’s support for the development of TikTok.
“I think TikTok is the most popular at the moment. We are happy that digital developments like TikTok make it easier to meet buyers and producers,” said Hasan, on June 14, 2023.
“TikTok has 124 million MAU (monthly average users) in Indonesia, and this is a big responsibility. We prioritize security and safety. I want to work with regulators to ensure that TikTok will be safe for Indonesian users,” said Chew.
Currently, TikTok already has 5 million business users in Indonesia, with the majority of MSMEs. As many as 2 million of them sell on the TikTok e-commerce platform, namely the TikTok Shop.
“TikTok’s CEO expressed his commitment to continue developing in Indonesia, and investing in Indonesia, and for them Indonesia is one of the most important markets in the world, and the most important market for the Southeast Asian region. They are very impressed with how digital inclusion e-commerce is developing in Indonesia, that internet users are steadily increasing,” said Bara Krishna Hasibuan, Special Staff to the Minister of Trade.
