(Bloomberg)– Chinese- possessed video clip system TikTok vowed to invest $8.8 billion in information facility holding solutions in Thailand over the following 5 years, greater than increasing an earlier financial investment target for the Southeast Asian country.
Most Read from Bloomberg
ByteDance Ltd.’s most important solution is placing the facilities in position to sustain residential individuals, consisting of some 50 million on TikTok alone, Vice President of Public Policy Helena Lersch informed Prime Minister Paetongtarn Shinawatra in Bangkok onFriday She really did not specify on information of the scheduled financial investment.
The promise adheres to the federal government’s signoff on TikTok’s strategy to spend $3.8 billion in the nation of 70 million individuals. Thailand is amongst Southeast Asian countries attracting financial investment from worldwide technology firms such as Microsoft Corp.,Nvidia Corp and Apple Inc., all looking for to touch the development capacity of the fast-digitizing area.
TikTok’s financial investment “is a step towards more localized and efficient operations which will enable us to serve our users and customers in Thailand and Southeast Asia more effectively,” the business stated in a declaration. “This development will also strengthen Thailand’s digital competitiveness and its goal of becoming a leading tech hub in Southeast Asia.”
With a flourishing customer base and greater than 3 million sellers, Thailand is a crucial market for TikTok in Southeast Asia, the business stated. The system will certainly remain to collaborate with the Thai federal government and neighborhood companions as component of its long-lasting dedication to buying the nation, it stated.
The federal government invited TikTok’s strategy, which will certainly assist create Thailand’s expert system, web content production and personnel abilities, Paetongtarn stated on X.
In 2024, financial investment promises in Thailand rose 35% from a year previously to 1.14 trillion baht ($ 33.3 billion), the greatest because 2014. The federal government is targeting fresh propositions worth a minimum of 1 trillion baht this year.
(Updates with TikTok remarks in 4th paragraph. An earlier variation was fixed to reveal financial investment is for developing information holding solutions.)
Most Read from Bloomberg Businessweek
© 2025 Bloomberg L.P.
