Chinese tech giant Tencent said that on Tuesday it was opening a new Singapore office to serve as a South East Asia hub, as the company was refusing to return in the US and India.
The firm is the latest Chinese technology leader to expand into an area of 650 million with a rapidly growing middle class, and to use the city-state as a base.
Tencent In a statement announced the new office, adding that it was “expanding its business presence in Singapore to support our growing business in Southeast Asia and beyond”.
The company, which already has offices in Malaysia, Thailand and Indonesia, said it is recruiting for various positions.
Bloomberg News quoted anonymous sources as stating that the company’s plans to set up a regional hub in Singapore were intensified by geopolitical tensions.
Other companies seeking to establish a presence in the city-state include ByteDance, which plans to spend billions of dollars to expand its presence, while Alibaba Singapore-based ride-healing firm in talks to invest grab, Bloomberg reported.
Many international companies have chosen to base their regional headquarters in Singapore, and observers believe that long-term volatility in rival Hong Kong could boost it in attracting firms.
Leaders in Singapore, who are majority ethnic Chinese, have been careful to maintain good relations with both the US and China.
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