TikTok has received investment certificate for a $980 million logistics project in HCM City. — XINHUA/VNA Photo

HCM — TikTok announced on Wednesday that the HCM City Department of Finance had granted an investment registration certificate to Tokgistic Pte Ltd, a Singapore-based investor, for the Swift Logistics Co Ltd project in HCM City.

Part of TikTok’s ecosystem, the project has a total registered capital of VNĐ25.85 trillion (US$980 million), including $196 million in contributed capital, or 20 per cent of total investment, with the remaining $784 million expected to be raised.

It has a 50-year operating term and is slated to begin in November 2026.

Swift Logistics is licensed for postal services, delivery, market research and management consulting. In postal services, it will sign contracts with customers but won’t directly provide delivery and related logistics services, using third-party logistics providers instead.

At a previous meeting with Chairman of the municipal People’s Committee Nguyễn Văn Được on November 28, 2025, a TikTok Southeast Asia executive said the company is considering shifting some cross-border services to operations in Việt Nam.

TikTok also proposed establishing three companies in logistics, digital payment and digital commerce tied to the Vietnam International Financial Centre in HCM City (VIFC-HCMC).

In logistics alone, TikTok expects operations could reach 1-2 billion orders annually. In digital payment, it suggested setting up TikTok Payment to serve around 45 million users in Việt Nam, while digital commerce is projected to generate more than $10 billion in annual transaction value.

In early April, TikTok Shop Vietnam secured an investment registration certificate in HCM City for a $125 million project. With Swift Logistics now receiving the certificate for its $980 million project, the combined registered investment capital of the two projects in Vietnam has reached $1.105 billion. — VNA/VNS