Tiktok to invest 300bn baht in Thai tech hub development
TikTok plans to invest approximately 300 billion baht in Thailand over the next five years to transform the country into an ASEAN technology hub. The decision emerged from discussions yesterday, February 28, between Helena Lersch, TikTok’s vice-president of public policy, and Prime Minister Paetongtarn Shinawatra in Bangkok, as reported by Government Spokesperson Jirayu Houngsub.
Lersch expressed appreciation for the Thai government’s support for TikTok’s investments and operations in the country. She also thanked the prime minister for policies that facilitate investment and reaffirmed TikTok’s commitment to working with the government to advance Thailand into the digital age.
The Chinese-owned company announced plans to invest US$8.8 billion (300 billion baht) in Thailand over the next five years, with a focus on enhancing the country’s technology infrastructure. This includes the establishment of a data hosting centre to improve data management for users in Thailand and Southeast Asia, positioning Thailand as a regional tech hub.
Jirayu stated that during the talks, the government stressed the importance of improving media literacy, with Paetongtarn expressing a willingness to collaborate with TikTok to address issues of fake news and online fraud. TikTok executives confirmed their readiness to work with the government on content monitoring and launching campaigns to promote digital literacy, aiming to raise awareness about online threats and consumer protection.
This collaboration is viewed as a significant step towards bolstering public-private partnerships in the digital era and boosting Thailand’s economy. Paetongtarn thanked TikTok for investing in a data hosting centre in Thailand and praised its efforts to promote Thai products through the TikTok Shop platform. She also highlighted TikTok’s role in creating content that features Thai culture and tourism, opening new opportunities for Thai entrepreneurs and content creators in global markets.
Lersch stated that TikTok has over 50 million users in Thailand, with more than three million accounts using TikTok Shop, including the Thai premier herself. The TikTok executive also noted that the company employs over 1,000 Thai individuals.
Paetongtarn praised TikTok’s success, acknowledging its role in connecting people and fostering creativity, which helps drive the country’s economy. The prime minister commended the platform for not only being a source of entertainment but also playing a key role in job creation and cultural exchanges, reported Bangkok Post.
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