The municipal Department of Finance announced that TikTok had made a $125 million investment in Ho Chi Minh City, Vietnam’s southern economic center.
The department clarified at the city’s quarterly socio-economic performance review that TikTok Pte. Ltd (Singapore) made the investment. According to the department, the investment is a major project for the city in the first quarter of this year. Ho Chi Minh City received $2.9 billion in foreign direct investment in the first three months of 2026, a 220% increase from the previous year.
Prior to the investment, Chanida Klyphun, Director of Public Policy at ByteDance, stated that TikTok intends to operate as an on-shore supplier in Vietnam rather than an off-shore supplier during a meeting with city officials in November 2025.
Additionally, TikTok announced that it would open three businesses in the Vietnam International Financial Center (VIFC), located in Ho Chi Minh City, in the areas of e-commerce with a gross merchandise value of $10 billion annually, digital payment for 45 million customers, and logistics with roughly two billion transactions annually.
TikTok has established two significant companies in Vietnam thus far: TikTok Technologies Vietnam Co., Ltd., which has a $6.1 million charter capital, and TikTok Shop Vietnam LLC, which has a $100 million charter capital. Nguyen Lam Thanh, Head of Public Policy and authorized Head of Representative Office, Vietnam, serves as the CEO of both organizations.
With a market share of 41% at the end of 2025, up from 29% at the end of 2024, TikTok Shop is currently the second-largest e-commerce platform in Vietnam. According to local e-commerce data analyzer Metric.vn, Shopee ranked first with 56% as of the end of 2025, down from 64% in 2024.
