TikTok secures investment for $980 million logistics project in Ho Chi Minh City

TikTok is expanding its footprint in Vietnam through a nearly $1 billion logistics project in Ho Chi Minh City. The initiative, registered under Swift Logistics Co., Ltd., has a total investment of over VND 25.85 trillion ($998 million).

TikTok is contributing $196 million, representing 20 percent of the total investment. The project has a 50-year operating term and is scheduled to begin activities in November. Swift Logistics will focus on postal services, delivery, market research, and management consulting. While the company will contract with customers for postal services, it will utilize third-party providers for direct delivery and related logistics tasks.

This development follows TikTok's previous $125 million investment in TikTok Shop Vietnam. The company has also expressed interest in establishing additional entities in logistics, digital payments, and digital commerce in connection with the Vietnam International Financial Center.