The Southeast Asian region has always been a popular area of interest for Chinese companies seeking to expand internationally. While multilingual nations like Singapore have always been the default launchpad for companies establishing a Southeast Asia office, other countries like Indonesia are also coming up as a favorite for both Southeast Asian and Chinese companies due to their substantial population and market.
The Indonesian startup scene has close ties to China and has produced a number of well-known companies in such collaborations. Two examples are major local e-commerce platforms Tokopedia (which has since merged with Gojek to become GoTo) and Bukalapak, which are backed by Chinese investors. Another instance is courier delivery company J&T Express, which was established in Indonesia in 2015 and has since entered the Chinese market in 2020 with the backing of investors.
Chinese companies that have entered the Indonesian market include vehicle manufacturer BYD, which now has an agreement with Indonesia’s largest taxi operator Blue Bird Group that ensures 80% of the latter’s vehicle fleet will be from BYD. Social media platform TikTok has also recognized Indonesia as its biggest economy with over two million vendors selling their wares on the app, and plans to continue supporting these vendors through investments into user growth and e-commerce capabilities.
The Need for Localization Efforts
However, due to cultural, language, and policy differences, the Indonesian market requires long-term localization efforts for any company looking to enter. Furthermore, new policies are introduced almost every year, leading to corresponding constraints and limitations.
Hence, to be able to successfully penetrate and thrive in the Indonesian market necessitates a deep understanding of local nuances, the ability to adapt swiftly to changes, and a commitment to value creation. While sectors like e-commerce, ride-hailing, finance, and food delivery have flourished, there remains tremendous growth potential for others. Realizing this potential requires further infrastructure development and comprehensive digital upgrades across industries to enhance efficiency.
An Exclusive Invitation for Chinese Enterprises
To explore and seize the boundless opportunities Indonesia has to offer, KrASIA and Pijar Foundation will be hosting an in-person closed-door session titled “Accelerate Indonesia’s Digital Transformation and Opportunities for Chinese Enterprises” at Pijar Foundation, Jakarta, Indonesia, on July 20, 2023. Representatives from Indonesia’s Ministry of Communication and Information Technology (KOMINFO), Lark, and BNI Ventures will come together to discuss the emerging prospects and address the challenges within the Indonesian market.
Designed to be conducive to knowledge exchange and conversations, seats at the event are limited for attendees coming in person. Registrations for in-person attendees will be confirmed via email.
The event will be conducted in English and will also be live-streamed simultaneously via Zoom.
Please RSVP here: https://bit.ly/letschuhaijul23
For Chinese companies keen on exploring the Indonesian market and interested to participate via Zoom, you may complete the registration form to indicate your interest. Applications will be reviewed for relevance to the discussed topics. Successful applicants will receive details of the event information closer to the date. (Please note that event registration will close at 23:59 on July 18).
Please note that all times below are in JKT (GMT +7).
1330 – 1400: Registration
1400 – 1403: Welcome by KrASIA
1403 – 1410: Opening speech by Cynthia Krisanti, Director of Innovation, Pijar Foundation
1410 – 15:00: Dialogue by Hiro Mohinani, Regional Sales Manager, Lark and Eddi Danusaputro, CEO at BNI Ventures on current challenges faced by Indonesian companies in digital transformation, and lessons from other markets
1500 – 1530: Keynote presentation by Hary Budiarto, Head of Research and Development Agency, Ministry of Communication and Informatics of the Republic of Indonesia: “Current state of digital transformation and opportunities”
1530 – 1600: Networking
Please RSVP here.