Wednesday, September 9, 2026, 18:30 GMT+7

TikTok affiliate contributes $196mn to nearly $1bn logistics project in Ho Chi Minh City

Ho Chi Minh City has granted an investment registration certificate to Singapore-based Tokgistic Pte. Ltd., an affiliate of TikTok Pte. Ltd., for its capital contribution to a logistics project worth nearly US$1 billion as part of the TikTok ecosystem in the city, according to the municipal Department of Finance.

The project, named Swift Logistics Co., Ltd., has a total registered investment of more than VND25.85 trillion ($998 million), with Tokgistic contributing $196 million, which accounts for 20 percent of the total.

The project, the second in the TikTok ecosystem in the city, has a 50-year operating term, with its registered activities scheduled to begin in November.

Swift Logistics has registered to operate in postal services, delivery, market research, and management consulting.

For postal services, the company will sign contracts with customers but it will not directly provide delivery or related logistics services.

Instead, those services will be supplied by third-party logistics providers contracted by the company, the finance department said.

The Swift Logistics project is the latest step in realizing TikTok's investment plans discussed with Ho Chi Minh City authorities in November 2025, when Chanida Klyphun, Southeast Asia director of public policy at TikTok, met with Nguyen Van Duoc, chairman of the municipal administration.

At the meeting, Klyphun said the company was considering shifting some cross-border services to Vietnam.

TikTok also proposed establishing three companies in logistics, digital payments, and digital commerce in connection with the Vietnam International Financial Center in Ho Chi Minh City.

These companies are expected to begin operations in 2026, according to TikTok.

Chairman Duoc welcomed TikTok's investment plans and pledged to support the firm in completing investment procedures as quickly as permitted.

In early April, TikTok Shop Vietnam was among the newly licensed FDI projects in Ho Chi Minh City, with registered investment of $125 million.

Now with the addition of the Swift Logistics project, the two projects have a combined registered investment of about $1.123 billion.

These investments represent concrete steps in TikTok's broader plan to expand its ecosystem presence in Vietnam, bringing more components to the country, including digital commerce, logistics and digital payments, according to the finance department.