TikTok pours $125 million into Ho Chi Minh City in Q1

The information was revealed by the municipal Department of Finance at a press conference on the city's socioeconomic situation on April 2.

TikTok Shop Vietnam, part of Singapore’s TikTok Pte. Ltd, implements a venture in the information and communication industry with a total investment capital of $125 million. This is one of 10 notable foreign direct investment (FDI) ventures in Ho Chi Minh City in the first quarter of 2026.

Previously, at the launch of Vietnam's International Financial Centre in Ho Chi Minh City (VIFC-HCMC), Tiktok was named as one of six strategic members. The partnership between TikTok and Ho Chi Minh City was discussed at the meeting between Chanida Klyphun, director of Public Policy for Southeast Asia at TikTok, and Nguyen Van Duoc, Chairman of Ho Chi Minh City People’s Committee, in late 2025.

According to Klyphun, TikTok was evaluating an option to shift three major services currently managed offshore to onshore entities within the VIFC-HCM. The platform submitted applications to establish three companies at VIFC-HCM, in line with the city’s digital economy and digital service development strategy.

They include a logistics service provider capable of handling one to two billion orders annually, a digital payment company, TikTok Payment, which serves its 45 million Vietnamese users, and a digital commerce business projected to generate over $10 billion in annual gross merchandise value.

“We hope that the city leaders will provide support and create better conditions for the company to accelerate licensing. Thus, new companies can kickstart operations in 2026,” Klyphun said.

Another FDI initiative is the Techtronic Tools Vietnam factory developed by Singapore’s Techtronic Industries Company Pte. Ltd with a total investment capital of $81 million.

In addition, Netherlands’ MSD Animal Health Vietnam increased its registered capital by $80 million in professional, scientific and technological activities. Singapore’s SP Vietnam HCMC boosted its registered capital by$67 million in information and communication. Likewise, Singapore’s Momogi Group Vietnam Co., Ltd. raised its registered capital by $55.4 million in professional, scientifics, and technological activities.

In terms of capital contribution and share purchase, the city recorded five notable transactions in the first half of the year. Accordingly, Indonesia’s Haryanto Sudarno Kusuma contributed capital of over $1.7 billion to VLD Investment and Financial JSC. Momogi Group Vietnam registered a capital contribution of over $64.3 million to Bibica.

Other notable transactions include Zeit Elevator’s $41.4 million investment in VGSI Elevator; Kredivo Vietnam’s nearly $34.4 million investment in Timo Vietnam; and Zhang Shuting and Yang Chao (China) making a combined investment of over $20.2 million in HongYI International Vietnam.

According to the Department of Finance, FDI attraction in the city in the first quarter of 2026 remains a bright spot against a complex regional and global environment.

Total registered FDI, including newly registered capital, adjusted capital, capital contribution, and share purchase, reached $2.9 billion in the first quarter of the year, soaring 220 per cent from a year ago. The results underscore investor confidence in the city’s business and investment climate.

The city is aiming to achieve a target of $11 billion in FDI for the entire year.

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