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TikTok turns to South-east Asia to drive new growth
Viral app’s parent ByteDance targets large Indonesian market but faces growing regulatory scrutiny around the world.
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TikTok chief executive Chew Shou Zi delivers his opening speech during the TikTok Southeast Asia Impact Forum 2023 in Jakarta on June 15.
PHOTO: AFP
Mercedes Ruehl
Far away from the tough scrutiny he faced in Washington, TikTok chief executive Chew Shou Zi was milking the crowd as he was feted at an event in Indonesia this month.
Dressed in a traditional batik shirt, the Singaporean embraced an enthusiastic audience in the capital Jakarta. Amid flashing disco lights and upbeat music, he declared to applause from government officials and fans that TikTok would “invest billions” in South-east Asia. Indonesia specifically would receive US$10 billion (S$13.5 billion) in investment from TikTok over the next five years, he said.
