Posted on 09/05/2016 4:46:21 PM PDT by 2ndDivisionVet
Indonesia has asked the chairman of China's Alibaba Group Holding Ltd, Jack Ma, to act as adviser in the development of the Southeast Asian country's nascent e-commerce industry, according to a video released by the government.
Indonesia has the world's fourth-largest population, boasting a young, internet-savvy demographic, and a thriving e-commerce market that is increasingly attracting global investors.
Earlier this year, Alibaba bought a controlling stake in Southeast Asian online retailer Lazada Group for around $1 billion, while a group of investors led by private equity firms KKR & Co LP and Warburg Pincus LLC poured more than $550 million into Indonesian ride-hailing start-up Go-Jek.
To promote growth in the e-commerce industry, the government is setting up a "steering committee" consisting of 10 ministers for which it has asked Alibaba's Ma to be an adviser, Communication and Information Minister Rudiantara said....
(Excerpt) Read more at retail.economictimes.indiatimes.com ...
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