At the Investment Promotion Conference on Digital Infrastructure and Large-Scale Data Centers held last weekend, witnessed by leaders of the Ho Chi Minh City People’s Committee and more than 150 delegates, G42 and a consortium of domestic investors signed a long-term framework agreement to develop data center infrastructure in Vietnam. The total projected investment of up to USD 2 billion underscores Ho Chi Minh City’s growing appeal as a regional digital infrastructure hub.
Forming a “Digital Brain” for Smart Cities
As part of the event, VinaCapital – representing an investor alliance comprising FPT and Viet Thai – signed a memorandum of understanding with the Ho Chi Minh City Department of Science and Technology to cooperate on the development of hyperscale data centers, aligned with the vision of building an integrated innovation and technology complex.
In parallel, the Management Board of the Ho Chi Minh City High-Tech Park continued its project development partnership with VinaCapital, focusing on two strategic pillars: data infrastructure and green energy. Key areas of cooperation include renewable energy solutions, Battery Energy Storage Systems (BESS), Direct Power Purchase Agreements (DPPA), and advanced cooling and thermal management technologies – all critical factors for ensuring the stability and operational efficiency of next-generation data centers.
VinaCapital emphasized that this direction not only supports data center operations but also ensures high-quality power supply for the broader high-tech ecosystem, including semiconductor and chip manufacturing facilities, which remain priority sectors for the city’s investment strategy.
Accelerating Digital Infrastructure Foundations
According to the Ho Chi Minh City Department of Science and Technology, the city continues strengthening its position as a technology and smart city leader through notable infrastructure indicators: approximately 70% 5G coverage, existing data center capacity exceeding 70 MW, and the deployment of integrated digital governance platforms such as Digital Twin systems, AI-powered camera networks, and electronic medical records.
For the 2026–2030 period, Ho Chi Minh City identifies digital infrastructure as a strategic priority, with hyperscale data centers envisioned as the “digital brain” supporting smart city operations, the digital economy, and large-scale AI models.
Emerging Ecosystem of Large-Scale Projects
Ho Chi Minh City’s market has witnessed a series of major data center developments:
SGI-HCM Campus: A nearly USD 2 billion project by Kinh Bac City Development Corporation in partnership with Accelerated Infrastructure Capital and VietinBank, targeting a capacity of 200 MW IT Load with a focus on AI infrastructure.
Viettel Data Center and High-Tech R&D Complex at Tan Phu Trung Industrial Park: Designed capacity of 140 MW with approximately 10,000 racks, addressing high-performance computing demand for AI and large-scale data processing.
CMC Hyperscale DC SHTP: A USD 250+ million investment by CMC, providing Cloud, Big Data, AI-as-a-Service, and cybersecurity services for both domestic and international markets.
DCH Digital Hub Data Center: With a total investment of USD 1.2 million, the project is expected to contribute momentum toward positioning Ho Chi Minh City as a destination for global technology and commerce corporations.
These developments highlight the transition from conventional data centers to hyperscale, AI-optimized infrastructure capable of handling massive computational workloads.
Policy Commitments and Investment Environment
Ho Chi Minh City has restructured its digital technology zones, expanded the High-Tech Park, and accelerated the formation of a northern science and technology urban area. The city is also rolling out supportive policies, including investment incentives, green energy infrastructure, workforce development cooperation with Vietnam National University – Ho Chi Minh City, and regulatory sandbox mechanisms for emerging technologies.
City authorities reaffirm their commitment to further administrative reforms and the establishment of inter-agency task forces to support strategic investors, ensuring transparent and efficient project implementation.
Data Infrastructure as a Pillar of the International Financial Center
Within the strategy for developing an international financial center, representatives of the Ho Chi Minh City International Financial Center stated that digital infrastructure will serve as the foundational backbone. The envisioned architecture includes Tier III/IV standard data centers, high-bandwidth connectivity, RegTech and SupTech systems for market oversight, and blockchain-based T+0 clearing mechanisms integrated into a financial SuperApp ecosystem.
This approach positions data centers as critical infrastructure – not only powering the digital economy but also reinforcing financial security and Ho Chi Minh City’s global competitiveness in the next phase of growth.
(Source: https://chuyendongthitruong.vn)