TikTok's ByteDance to invest RM10 billion into Malaysia

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TikTok owner ByteDance is planning to invest in artificial intelligence (AI) and make Malaysia an AI hub for the region with a proposed investment of about RM10 billion.

This is according to investment, trade and industry minister Zafrul Abdul Aziz during his meeting with TikTok vice president Helena Lersch in Singapore last week.

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Zafrul added that ByteDance's investment will help Malaysia achieve its target of expanding its digital economy to 22.6% of Malaysia's gross domestic product by 2025.

The minister also noted that ByteDance has developed a data centre at Sedenak Tech Park in Kulai, Johor.

In addition, the company plans to expand the data centre facility with an additional investment of RM1.5 billion.

This announcement follows similar large investments in Malaysia by other tech giants in recent months.

Last month, Google invested US$2 billion in Malaysia to accelerate digital transformation in the country. This includes the development of its first Google data centre and Google Cloud region to meet the growing demand for cloud services locally and around the world.

The site of the Malaysia investments will be in Sime Darby Property's Elmina Business Park, in Greater Kuala Lumpur.

The Google data centre will power Google's popular digital services, such as Search, Maps, and Workspace. It will also play an essential role in enabling Google to deliver the benefits of Al to users and customers across the country.

When operational, Malaysia will join the 11 countries where Google has built and now operates data centres serving users around the world.

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