TikTok Owner to Spend Billions in Singapore After U.S. Ban

ByteDance, the Beijing-based company, is planning a significant expansion in Singapore, aiming to establish it as a key hub for its operations in Asia and globally. This move comes amid geopolitical tensions, particularly with the US. ByteDance has applied for a digital license in Singapore and plans to invest billions over several years, creating numerous job opportunities. Singapore's educated, tech-savvy, and multilingual workforce makes it an attractive location for tech firms. This expansion could boost investor sentiment in Singapore, despite the underperformance of its index in 2020.

What challenges does TikTok face in the context of its operations in the US?

What factors make Singapore attractive to tech firms according to the text?