After discussions with the government, a senior executive from TikTok announced on Friday ( Feb 28 ) that the company plans to invest US$ 8.8 billion in Thailand over the next five years, focusing on digital infrastructure, workforce development, and online safety initiatives.
ByteDance, China’s social media company, is the latest in a long line of big tech companies to announce significant paying jobs in the country, following Amazon, Google, and Microsoft.
On Friday, Helena Lersch, TikTok’s vice chairman of public policy, met with Thai Prime Minister Paetongtarn Shinawatra in Bangkok to talk about the development.
Lersch told the PM in a statement at the start of their meeting that” we are here now to announce the US$ 8.8 billion.”
Paetongtarn praised Thailand’s investment in its modern equipment and AI development as a significant development.
The investment includes anti-fraud strategies, fresh data hosting services, and training for creators and businesses to improve local sky capabilities.
It’s unclear whether the income includes a$ 3.8 billion Twitter purchase that was approved by Thailand’s Board of Investment in later January.