FDI companies in Vietnam have consistently played a crucial role in contributing to Vietnam's economy and its growth. Since the authorization of foreign investment in 1988, Vietnam FDI has been pivotal in transforming the country into a highly appealing destination for international investors. The country’s robust growth in securing FDI has garnered positive feedback from […]
FDI companies in Vietnam have consistently played a crucial role in contributing to Vietnam's economy and its growth. Since the authorization of foreign investment in 1988, Vietnam FDI has been pivotal in transforming the country into a highly appealing destination for international investors. The country’s robust growth in securing FDI has garnered positive feedback from […]
Indonesia Implements Nationwide Ban On Social Media Shopping
Trường Lăng
Trường Lăng, founder and 15-year director of Viettonkin, guides the company's strategic direction, makes top-level decisions, and represents the firm in key business negotiations. With over 20 years of consulting experience in Belgium and Southeast Asia, including 15 years specializing in FDI projects, he has established himself as a top expert who helps clients across industries expand their businesses. His deep knowledge of risk management and business operations, combined with his proven track record of successful consultation projects, makes him a valuable partner for investors seeking quality consulting services.
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In accordance with new trade regulations, Indonesia intends to prohibit the sale of products via social media, the country's deputy trade minister told a parliamentary hearing on September 12.
Ministers have repeatedly asserted that e-commerce sellers using predatory pricing on social media platforms jeopardize offline markets in Southeast Asia's leading economy.
Current commerce regulations do not specifically address social media transactions.
"Social media and social commerce cannot coexist," said Jerry Sambuaga, deputy minister of trade, citing the example of sellers using "live" features on the short video platform TikTok to sell products.
Mr. Sambuaga stated, "Revisions currently being made to the trade regulations will prohibit this firmly and explicitly."
In response, TikTok stated that segregating social media and e-commerce into separate platforms would hinder innovation and that the company hoped the government would provide a level playing field.
Representative of TikTok Indonesia Anggini Setiawan told Reuters on Wednesday, "It would also harm Indonesian merchants and consumers."
TikTok, which has 2 million sellers in Indonesia, has stated in the past that it has no plans to launch a cross-border business there, despite officials' concerns that the company's e-commerce drive could flood the country with Chinese goods.
Facebook, which also includes a marketplace feature on its platform, did not respond to an email from Reuters requesting comment.
ByteDance, a Chinese tech titan, owns TikTok. The company reported that its app had 325 million monthly active users in Southeast Asia, of which 125 million were in Indonesia. According to the corporation, there are two million small businesses using TikTok Shop in Indonesia.
Indonesia, with a population of over 270 million, accounted for nearly $52 billion in e-commerce transactions last year, of which 5% took place on TikTok, primarily through live broadcasting, according to data from the consultancy Momentum Works Indonesia.
According to a report published by Google, Temasek Holdings, and Bain & Company in 2022, Indonesia's e-commerce industry is projected to reach $95 billion by 2025.
Vietnam is emerging as a prime destination for foreign direct investment (FDI), driven by rapid economic growth, favorable government policies, and an investor-friendly business environment. This eBook provides a deep dive into Vietnam’s economic landscape, highlighting key industries such as manufacturing, real estate, and digital banking that attract FDI. It also explores the government’s proactive measures to streamline investment procedures, improve infrastructure, and offer tax incentives for foreign enterprises. Additionally, it covers crucial insights into market entry strategies, regulatory requirements, and socio-cultural factors that influence business success in Vietnam.
Download the eBook now to gain expert insights into successfully navigating Vietnam’s dynamic investment landscape!
Vietnam is emerging as a prime destination for foreign direct investment (FDI), driven by rapid economic growth, favorable government policies, and an investor-friendly business environment. This eBook provides a deep dive into Vietnam’s economic landscape, highlighting key industries such as manufacturing, real estate, and digital banking that attract FDI. It also explores the government’s proactive measures to streamline investment procedures, improve infrastructure, and offer tax incentives for foreign enterprises. Additionally, it covers crucial insights into market entry strategies, regulatory requirements, and socio-cultural factors that influence business success in Vietnam.
Download the eBook now to gain expert insights into successfully navigating Vietnam’s dynamic investment landscape!
Founded in 2009, Viettonkin Consulting is a multi-disciplinary group of consulting firms headquartered in Hanoi, Vietnam with offices in Ho Chi Minh City, Jakarta, Bangkok, Singapore, and Hong Kong and a strong presence through strategic alliances throughout Southeast Asia. Our firm’s guiding mission is aimed towards facilitating intra-ASEAN investments and connecting investors in Southeast Asia with the rest of the world, thus promoting international business relationships and strengthening inter-nation connections.
