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.
“We are here today to announce the $8.8 billion,“ Lersch told the PM in public remarks at the start of their meeting.
The investment includes training programmes for businesses and creators, anti-fraud campaigns, and a new data hosting service to enhance local cloud capabilities.
The Thai move comes as TikTok faces being banned in the United States over national security concerns about the data it gathers on users.
Thailand, Southeast Asia’s second biggest economy, has lagged Singapore and Indonesia in the tech sector, and the government has made a concerted push to attract US giants as it seeks to make up lost ground.
“The government is delighted that TikTok has chosen Thailand as a strategic investment partner for digital infrastructure, including a 300 billion baht ($8.8 billion) Data Hosting project,“ Paetongtarn posted on X.
TikTok has more than 50 million users in Thailand and three million businesses on TikTok Shop.
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