Today's Top 3 News: TikTok Indonesia Responds to Social Commerce Ban, Indonesian Govt Optimistic Policy Plan for JETP Finalized in October
TEMPO.CO, Jakarta - Tempo English compiled three popular news on the platform today, Wednesday, September 27, 2023. Those include TikTok Indonesia responding to the social commerce ban, the Indonesian government's optimism that the policy plan for JETP will be finalized in October, and Sri Mulyani attending AIIB in Egypt
The following is the list of the top 3 news on Tempo English today:
1. TikTok Indonesia Responds to Social Commerce Ban
TikTok responded to the government's regulation to ban social commerce. TikTok Indonesia stated that the company will abide by the laws and regulations of Indonesia.
"However, we also hope that the government will consider the effect [of the ban] toward the livelihood of six million local sellers and around seven million creators affiliate that used TikTok Shop," said TikTok Indonesia spokesperson when called by Tempo on Tuesday, September 26, 2023.
TikTok Indonesia claimed to have received complaints from local sellers. They asked for certainty regarding the newly issued regulation, provided in the revised Minister of Trade Regulation No. 50 of 2020 on electronic commerce.
2. Indonesian Govt Optimistic Policy Plan for JETP Finalized in October
Coordinating Ministry for Maritime and Investment Affairs reported the progress for the energy transition financing through the Just Energy Transition Partnership (JETP). Deputy Coordination of Infrastructure and Transportation of the Ministry Rachmat Kaimuddin stated on Tuesday that the comprehensive investment and policy plan will be finalized this upcoming October.
The JETP agreement was discussed at the G20 Summit in Bali in November 2022. The initial budget agreed during the summit was US$20 billion. Later, JETP decided to add the budget to US$21.7 billion.
The energy transition budget has yet to be distributed. Rachmat said he already met with JETP in New York. He also mentioned that the need for Indonesia's energy transition budget has surpassed US$21.7 billion.
3. Sri Mulyani Attends AIIB in Egypt, Talks of Climate Change, Energy Transition
Indonesian Minister of Finance Sri Mulyani attended the annual meeting of the Asian Infrastructure Investment Bank (AIIB) in Sharm El-Sheikh, Egypt. She participated in the Governors' Business Roundtable, a forum to discuss strategic policies for the future development of AIIB.
AIIB is a Multilateral Development Bank (MDB), a development partner for many countries, including Indonesia. At present, AIIB has 106 member countries.
According to Sri, the issue of climate change is still the main topic of discussion. “Financing innovation is also a crucial challenge to ensure affordable access to funding,” she said in a written statement quoted on Wednesday, September 27, 2023.