financetom
Business
financetom
/
Business
/
Indonesia asks Apple, Google to block China's Temu to protect small merchants
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Indonesia asks Apple, Google to block China's Temu to protect small merchants
Oct 11, 2024 4:34 AM

JAKARTA (Reuters) - Indonesia has asked Alphabet's Google and Apple ( AAPL ) to block Chinese fast fashion e-commerce firm Temu in their application stores in the country so it cannot be downloaded, a minister said on Friday.

The move was intended to pre-emptively protect the country's small and medium-sized businesses against cheap products being offered by PDD Holdings' ( PDD ) Temu, communications minister Budi Arie Setiadi told Reuters, even though authorities have not found any transactions yet by its residents on the platform.

Temu's rapid growth has triggered scrutiny over its low-cost business model of sending parcels to customers from China by several countries.

Temu's business model, which connects consumers directly with factories in China in order to significantly reduce prices, is "unhealthy competition," Budi said.

"We're not here to protect e-commerce, but we protect small and medium enterprises. There are millions we must protect," the minister said.

Jakarta will also block any investment by Temu in local e-commerce if it makes such a move, Budi said, adding he has not heard of any such plan.

Budi also said the government plans to request a similar block for Chinese shopping service Shein.

Temu, Shein, Apple ( AAPL ) and Google did not respond to requests to comment. Temu can still be downloaded in app stores in Indonesia.

Indonesia forced China's ByteDance social media platform TikTok to close its e-commerce service in the country last year to protect local merchants and users' data.

Months later, TikTok agreed to buy a majority stake in Indonesian tech conglomerate GoTo's e-commerce unit in order to stay in Southeast Asia's biggest e-commerce market.

On Tuesday, Indonesian homegrown e-commerce Bukalapak.com denied reports about an acquisition plan by Temu.

Indonesia's e-commerce industry is set to expand to about $160 billion by 2030 from $62 billion in 2023, according to a report by Google, Singapore state investor Temasek Holdings and consultancy Bain & Co.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved