TikTok’s Singapore-based investment arm has committed $125 million to Ho Chi Minh City, with plans to establish three business entities within the city’s International Financial Center focused on logistics services, digital commerce, and digital payment systems. The announcement is part of a broader Q1 foreign direct investment surge in the city, which attracted nearly $2.9 billion in FDI in the first quarter, a 220% increase year-over-year, as the city works toward an $11 billion annual FDI target. No timeline for TikTok’s investment was provided.
