TikTok “pours” 12.2 million USD into Southeast Asia, will Vietnamese businesses benefit?

On June 16, short video content platform TikTok officially announced a new investment of 12.2 million USD aimed at supporting small and medium enterprises in Southeast Asia. Thereby, promoting business owners and young communities in the region to start up and develop sustainably on the platform.

This investment includes cash grants, digital skills training costs and advertising credits for SMEs, including micro and rural businesses – suburban areas will also benefit from the support.

The investment is made as TikTok has emerged as a platform that delivers value to both businesses and the content creator community.

According to the TikTok Effect Report: Driving Southeast Asian Business, Education, and Communities , a number of field surveys among small and medium-sized businesses point to the potential for revenue growth of this group of businesses. reached nearly 50% through promoting and selling products and services on TikTok.

Besides, nearly 4/5 businesses (79%) have converted from traditional sales channels to online platforms by joining TikTok. At the same time, more than 80% of content creators on the platform also showed similar positive results.

Specifically, this group recorded significant growth in income thanks to the presence of new types of media – advertising such as TikTok LIVE or co-branding programs.

Talking to us, Mr. Shou Chew, CEO of TikTok said: “There are more than 325 million people accessing TikTok every month in Southeast Asia and 15 million businesses have joined the platform. As can be seen, the role Our role and ability to contribute in unlocking economic, educational and community-building opportunities in the region and around the world is immense.”

He added: “We are delighted to see the positive impact TikTok has had on the community, and we are committed to continuing to support individuals, communities and businesses to grow together. and achieved a lot of success on the platform”.

TikTok promotes promotion and sale of regional specialties in Vietnam

In Vietnam, TikTok will also coordinate with the Vietnam Agricultural Trade Promotion Center (Agritrade) under the Ministry of Agriculture and Rural Development to contribute to the rural economic development program called “One Commune One Product”. Products” (OCOP) of the Government.

Within the framework of cooperation, TikTok will launch a series of OCOP Market events. Broadcast live (livestream) on TikTok Shop weekly, the event will be an opportunity to promote and sell online products – regional specialties produced by local small and medium enterprises.

Through the project, TikTok aims to improve the livelihoods of 20,000 local farmers, people from craft villages and small businesses spread across 63 provinces and cities in Vietnam, while contributing to the conservation of local traditional culture and promote tourism across regions.

Besides educational activities on the platform, TikTok will continue to build the next generation of entrepreneurs, especially young people who do not have the advantage of equal access to economic development opportunities.

In partnership with the ASEAN Foundation, the Social Enterprise Development Program will provide capacity building training, mentoring, market entry facilitation, and fundraising to incubate valuable talent. up to USD 320,000 to 20 youth-led social enterprises in the region, contributing to the United Nations Sustainable Development Goals in Southeast Asia.