DIGIVESTASI -  TikTok Shop is rumored to be considering investing in GoTo Gojek Tokopedia to return to the Indonesian market. This does not pose any difficulties for the four Ministries. Bloomberg sources last week (November 22) said TikTok is negotiating to invest in GoTo Gojek Tokopedia through the establishment of a joint venture. "This could be finalized in the next few weeks," he said.

A source said: "Rather than a direct investment, this deal could take the form of a joint venture between the two companies." Confirmed the news to TikTok and Tokopedia. But there is still no response. There are at least four ministries that have no problem with TikTok re-entering the Indonesian market through its investment in GoTo Gojek Tokopedia. They understand: 

1.Minister of Communication and Information

Budi Arie Setiadi said that business-to-business (B2B) cooperation that does not violate the rules must be supported, especially to develop the country's digital technology economy. "What is certain is that the community as consumers and the state must benefit, because imported goods must be reduced.
 

UMKM can be protected," Budi said in Jakarta, Thursday evening (November 30). However, to our knowledge, TikTok Shop has not applied for an e-commerce license. Therefore, he cannot justify the discourse on the return of social commerce from China to Indonesia. However, he supports the possibility of cooperation between TikTok Shop and national e-commerce platforms such as Tokopedia. "Indonesia's digital ecosystem must be healthy. There is no problem with B2B cooperation," he said.

2. Ministry of Trade Minister of Trade

Zulkifli Hasan invites TikTok Shop to operate again in Indonesia. But keep in mind that you respect the rules that have been set. "We are not against foreigners. The agreement is important to be able to support MSMEs in order to expand their markets and even export internationally.

If it's not okay. "This is a win-win solution," said Zulkifli, Wednesday (29/11). A similar view was also expressed by Deputy Minister of Trade Jerry Sambuaga. "If TikTok is interested in a license, whether it's a partnership or whatever, as long as it is in accordance with applicable regulations and procedures, let's do it," he said on Tuesday, after the opening of EV Expo 2023, in Jakarta. (November 28).
 

However, the government will further discuss whether TikTok will actually bring GoTo Gojek Tokopedia and create a joint venture. Jerry also said plans for cooperation or mergers with other e-commerce platforms will then be discussed at a more technical level.

He also said TikTok Shop is processing an e-commerce license. "The reality is that yesterday TikTok failed to comply," Jerry added. It's not licensed. They are handling it now." Meanwhile, Director of Trade through Electronic Systems and Business Services of the Ministry of Trade Rifan Ardianto has not been able to give an assessment of TikTok's cooperation plan with GoTo Gojek Tokopedia. Because you have to research the business model or type of project that will be undertaken.

3. BKPM

Investment Minister or Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia also invited Chinese companies to work with local e-commerce. "We will continue the BtoB, right? We can't interfere," Bahlil said at the Presidential Palace in Jakarta, Monday night (November 27).

Bahlil heard TikTok's plan to invest in Tokopedia's GoTo Gojek. However, he did not receive the technical report. According to him, the government does not question TikTok's cooperation with GoTo Gojek Tokopedia as long as it does not cross political lines. 

4. Ministry of Cooperatives and Small and Medium Enterprises

Minister of Cooperatives and Small and Medium Enterprises Teten Masduki said TikTok Shop may attract local e-commerce such as Tokopedia. According to Teten, mergers, acquisitions, and partnerships between TikTok Shop, Tokopedia, and Bukalapak are inevitable. The reason is that these two domestic e-commerce companies have just listed their shares for the first time, namely issuing shares in the framework of an initial public offering (IPO).

"They buy shares in the capital market so the government does not need to intervene here, because this is a state-owned company," said Teten when met at the Jakarta Convention Center, Jakarta, Tuesday (November 28).