TikTok owner ByteDance plans to invest billions in Singapore over the next 3 years
The investment would come at a crucial time as the tech giant is forced to sell its TikTok operations in the US under pressure by the Donald Trump administration.
ByteDance, the owner of popular app TikTok, is planning to invest billions of dollars in Singapore over the next three years as part of its global expansion, Reuters reported.
The Beijing-based company is looking to add hundreds of jobs also in the city-state, said sources.
The investment would come at a crucial time as the tech giant is forced to sell its TikTok operations in the US under pressure by the Donald Trump administration.
Sources revealed the Beijing-based firm had also stepped up the purchase of cloud-computing servers in Singapore to backup US data for contingency.
In recent years, Singapore has ramped up efforts to attract tech firms and investors.
