TikTok to Invest $8.8 Billion in Thailand for Digital Growth

ByteDance-owned TikTok of China announced that it will invest $8.8 billion in Thailand over the course of the next five years. The investment will go towards building up digital infrastructure, developing the workforce, and boosting online safety. The announcement came after a meeting on Friday with TikTok vice president Helena Lersch and Thai Prime Minister Paetongtarn Shinawatra.

The investment includes business and creator training programs, anti-fraud measures, and a new data hosting service to expand Thailand’s cloud infrastructure. It is the latest effort for Thailand to become a top digital hub following investments from the likes of Amazon, Google, and Microsoft.

TikTok’s investment in Thailand is coming at a time when the application is facing potential bans in the United States over data privacy concerns. Thailand boasts over 50 million TikTok users, and the application has become popular among businesses through TikTok Shop.