Hanoi (VNA) - Director of TikTok Vietnam Nguyen Lam Thanh has expressed interest in investing in Vietnam's logistics, digital finance, and the Vietnam International Financial Centre (VIFC).
At a working session in Hanoi on June 3, Deputy Minister of Finance Cao Anh Tuan commended TikTok’s rapid growth and its contributions to Vietnam’s digital economy. With tens of millions of users, TikTok has become not only a platform for content creation and social interactions but also an effective tool for product promotion, market expansion, and e-commerce.
The Ministry of Finance noted that Vietnam is entering a new growth phase anchored in sci-tech, innovation, and digital transformation, with the Government refining the legal framework and business climate while pushing policies under the Politburo’s Resolution 57 to lure quality investment into artificial intelligence, big data, data centres, e-commerce, and other strategic tech sectors.
Tuan said Vietnam-China ties are sustaining positive and comprehensive momentum. Both sides are implementing high-level agreements to build a Vietnam-China community with a shared future that carries strategic significance. Economic, investment, sci-tech, and digital transformation cooperation are increasingly becoming important and promising.
He underscored TikTok’s role in helping small and medium enterprises, household businesses, solo entrepreneurs, content creators, and young founders tap new digital business models.
Vietnam possesses advantages to become a major regional hub for innovation and digital economy. With a market of more than 100 million people, a young workforce, strong tech adaptability, and a stable socio-political environment, the country offers opportunities to international tech firms seeking long-term investment and growth, he said.
Thanh, for his part, said TikTok has operated in Vietnam for about seven years and has become one of the most influential platforms in the country’s digital economy ecosystem.
Vietnamese users spend about 100 million hours watching videos on the platform daily. TikTok also provides AI-powered tools for content creation, and its video-editing app CapCut has surpassed 30 million users in Vietnam.
TikTok now serves about 500,000 advertising clients and supports roughly 500,000 merchants on TikTok Shop. At the same time, its ecosystem draws around 6 million content creators who produce material and earn income on the platform, he said.
With backing from government agencies, especially Ho Chi Minh City's authorities, TikTok is gradually shifting certain operations from a cross-border model to a domestic enterprise model. The company is studying plans to establish local legal entities across several segments, including e-commerce, to improve data connectivity, streamline information sharing, and tighten coordination with regulators, he added.
According to Thanh, the platform’s scale is substantial, handling nearly 2-3 billion electronic invoices and almost 3 billion orders a year. The transition to a domestic model is expected to upgrade data infrastructure, electronic invoicing, and regulatory mechanisms while boosting business transparency.
In response, Tuan said the ministry fully supports TikTok’s steps to prepare the technology infrastructure needed for the switch to a domestic enterprise. Rules and guidance on invoices, documentation, and tax obligations for transactions originating in Vietnam are already clearly established, and the tax authority’s IT systems can fully handle the company’s data connectivity and processing needs.
The ministry remains committed to supporting businesses, including global tech firms and digital platforms, in building a transparent, modern, and business-friendly investment environment that fuels the digital economy and innovation in Vietnam, he affirmed./.
