TikTok to invest $8.8 bn in Thailand over five years

TikTok plans to invest $8.8 billion in Thailand over the next five years, focusing on digital infrastructure, workforce development and online safety initiatives, a senior executive said Friday 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.

TikTok's vice president of public policy, met Thai Prime Minister Paetongtarn Shinawatra in Bangkok on Friday to discuss the expansion. 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.