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ByteDance's RM10 bil investment to propel Malaysia as regional AI hub | Scoop

Tengku Zafrul, Helena Lersch - @tzafrul_aziz — Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz meets with TikTok vice-president Helena Lersch in Singapore, where they discuss ByteDance's plans to invest in AI and expand its data centre facility in Johor. – @tzafrul_aziz X pic, June 7, 2024

ByteDance’s RM10 bil investment to propel Malaysia as regional AI hub

This will help country achieve target of growing digital economy to 22.6% of gross domestic product by 2025, says investment minister

Updated 7 June, 2024

7 June, 2024

7:48 PM MYT

KUALA LUMPUR – TikTok owner ByteDance plans to invest in artificial intelligence (AI) and turn Malaysia into a regional AI hub with a proposed investment of about RM10 billion.

In a post on X (formerly Twitter), Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said this was conveyed to him during his meeting with TikTok vice-president Helena Lersch in Singapore today.

“The additional investment from ByteDance will certainly help Malaysia achieve its target of growing the digital economy to 22.6% of Malaysia’s gross domestic product by 2025,” he said.

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

Taking into consideration future requirements, Tengku Zafrul said the company also plans to expand the data centre facility with an additional investment of RM1.5 billion. – June 7, 2024

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