Indonesian State-Owned Enterprises (SOE) Minister Erick Thohir has expressed his intention to facilitate discussions between TikTok CEO Shou Zi Chew, YouTube CEO Neal Mohan, and President Joko “Jokowi” Widodo to explore potential investments in the country’s digital economy. Thohir emphasized the importance of these collaborations in driving Indonesia’s economic expansion and job creation. The minister highlighted the potential of Indonesia’s digital economy, which is projected to reach Rp4,500 trillion by 2030, making it the largest in Southeast Asia.
Minister Erick Thohir is keen on attracting investments from global tech giants like TikTok and YouTube to boost Indonesia’s digital economy. During a recent meeting at the Louvre Museum in France, Thohir discussed the potential of Indonesia’s digital landscape with TikTok CEO Shou Zi Chew and YouTube CEO Neal Mohan. Both executives expressed optimism about Indonesia’s digital economy and their willingness to contribute to its growth.
Thohir emphasized the need for healthy discussions with these tech giants to explore investment opportunities. He also highlighted the importance of preserving Indonesian culture amid the growing use of social media platforms among the younger generation. The minister believes that collaborations with TikTok and YouTube can help promote local creators while preserving Indonesia’s positive culture worldwide.
The meeting at the Louvre Museum was part of Thohir’s visit to France for the International Olympic Committee (IOC) event. Thohir, who is also an IOC member, took the opportunity to pitch Indonesia’s digital economy potential to global tech leaders.
Promoting Digital Economy Growth
The collaboration with TikTok and YouTube is expected to significantly contribute to the growth of Indonesia’s digital economy. Thohir highlighted that the digital economy sector has already generated substantial revenue, with value-added tax (VAT) collections from technology companies like ByteDance (TikTok’s parent company) and Google (YouTube’s parent company) amounting to Rp20.15 trillion as of May 30.
Thohir’s efforts to attract investments from global tech companies align with Indonesia’s broader economic goals. The minister believes that these collaborations will stimulate economic growth and create new job opportunities for Indonesians. By leveraging the expertise and resources of global tech giants, Indonesia aims to accelerate its digital transformation and become a leading player in the digital economy.
In addition to economic benefits, Thohir also sees potential for educational content sharing with other nations through these collaborations. He believes that platforms like TikTok and YouTube can be used to promote educational content and foster cross-cultural understanding.
Future Prospects and Challenges
While the potential benefits of these collaborations are significant, there are also challenges that need to be addressed. Thohir acknowledged that attracting investments from global tech giants requires a conducive business environment and regulatory framework. The minister is committed to working with relevant stakeholders to create an environment that supports innovation and investment in the digital economy.
Thohir also emphasized the importance of ensuring that the growth of the digital economy does not come at the expense of local culture and values. He believes that it is crucial to strike a balance between embracing technological advancements and preserving Indonesia’s cultural heritage. The minister is optimistic that with the right strategies and collaborations, Indonesia can achieve this balance and realize its digital economy potential.
Looking ahead, Thohir is hopeful that the discussions with TikTok and YouTube will lead to concrete investments and partnerships. He is ready to arrange meetings between the tech giants and President Jokowi or President-elect Prabowo to further explore these opportunities. Thohir’s proactive approach and commitment to driving Indonesia’s digital economy growth reflect his vision for a prosperous and digitally empowered Indonesia.
