ByteDance Plans To Transform Malaysia Into Regional AI Hub With RM10 Billion Investment

📆 07/06/2024 08:56 a. m.
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TikTok owner ByteDance plans to transform Malaysia into a regional AI hub with a projected investment of about RM10 billion, announced investment, trade and

industry minister Tengku Datuk Seri Zafrul Abdul Aziz. In a post on X , he revealed that this was conveyed to him during his meeting with TikTok vice president Helena Lersch in Singapore earlier today.

'This additional investment by Bytedance will undoubtedly help Malaysia achieve its target of growing the digital economy to 22.6% of Malaysia's Gross Domestic Product by 2025,” the minister said.Zafrul also noted that the company developed a data centre at Sedenak Tech Park in Kulai, Johor. Considering future needs, ByteDance is planning to expand the facility with an additional investment of RM1.5 billion, he added.

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