TikTok set to invest over €400million and create hundreds of jobs in Ireland

Social media giants TikTok are planning to invest $500 million and create hundreds of jobs in Ireland.The company is extending its presence in Ireland, where it already has a hub dealing with regional regulatory issues.

TikTok’s 420 million euro investment in Ireland comes at a fraught time in relations between China and the West, with disagreements on a range of issues from trade and the handling of the coronavirus to the political situation in Hong Kong. Ireland is one of Europe’s biggest hubs for data centres and already hosts operations for major technology companies such as Amazon, Facebook and Alphabet Inc’s Google.

Foreign firms directly account for one in 10 Irish jobs, attracted by a low corporate tax rate. TikTok’s “Trust and Safety Hub”, set up in Dublin in January, deals with regulators and governments in Europe, the Middle East and Africa.

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