BANGKOK: TikTok plans to invest US$8.8 billion in Thailand over the next five years, focusing on digital infrastructure, workforce development and online safety initiatives, a senior executive said on Friday (Feb 28) after talks with the government.
The social media platform owned by China’s ByteDance is the latest in a string of big tech names to announce major spending projects in the kingdom, after Amazon, Google and Microsoft.
Helena Lersch, TikTok’s vice president of public policy, met Thai Prime Minister Paetongtarn Shinawatra in Bangkok on Friday to discuss the expansion.
“We are here today to announce the US$8.8 billion,” Lersch told the PM in public remarks at the start of their meeting.
Paetongtarn hailed the investment in Thailand’s digital infrastructure and AI development as a major opportunity for the country.
The investment includes training programmes for businesses and creators, anti-fraud campaigns, and a new data hosting service to enhance local cloud capabilities.
It is not clear whether the cash includes a US$3.8 billion investment from TikTok approved by Thailand’s Board of Investment in late January.
https://www.channelnewsasia.com/asia/tiktok-invest-us88-billion-thailand-five-years-4966916
