Recently, Kinh Bac City Development Holding Corporation (KBC) signed a cooperation agreement with Accelerated Infrastructure Capital (AIC) and VietinBank to develop a large-scale data center project at the Tan Phu Trung Industrial Park (Ho Chi Minh City). The project carries a total investment of nearly USD 2 billion and covers an area of about 10 hectares. It will form an AI campus data center complex with a designed capacity of 200 MW IT load, capable of operating around 100,000 GPUs.
Earlier, Ho Chi Minh City also received an investment proposal for a USD 2-billion Hyperscale Data Center from a consortium including G42 (UAE), Microsoft (USA), FPT, VinaCapital, and Viet Thai Group. The project is envisioned as an “AI Factory”, providing advanced AI and cloud computing infrastructure for Asia and the global market.
Viettel is also leading the charge with two AI data center projects. In April 2025, the company broke ground on its facility at Tan Phu Trung with a designed capacity of 140 MW, ranking among the Top 10 in Southeast Asia, accommodating about 10,000 racks. Phase I is expected to be operational in Q1 2026, with full completion before 2030. In August 2025, Viettel inaugurated the An Khanh Data Center, worth VND 17.5 trillion, meeting Uptime Tier III standards and integrating Viettel’s in-house AI technology. By 2030, this facility is expected to be upgraded into Viettel’s second hyperscale data center.
CMC Corporation is also investing in a chain of international-standard data centers, including CMC Creative Space – Tan Thuan (HCMC) and CMC DC Duy Tan (Hanoi), with plans to build a CMC Hyperscale DC at the Saigon Hi-Tech Park. This upcoming facility, valued at USD 250 million, will start with 30 MW capacity and expand to 120 MW.
The joint venture between VNG and ST Telemedia Global Data Centres is constructing two AI-enabled data centers in Ho Chi Minh City — STT VNG Ho Chi Minh City 1 and 2, expected to go online in the first half of 2026.
It is clear that Vietnam is entering a booming phase of AI Data Center investment. According to Deloitte, the Vietnamese AI market could reach USD 65 billion by 2035, with USD 25 billion contributed by AI data center infrastructure. A report by the Vietnam Cloud Computing and Data Center Club (VNCDC) estimates that the Vietnamese cloud computing market could reach USD 1.24 billion in 2025 and about USD 2.5 billion by 2029; total data center capacity is expected to grow from 525 MW in 2025 to nearly 1,000 MW in 2030.
In addition to large corporations such as Viettel, CMC or KBC, one of the projects that is of particular interest to domestic and foreign investors is the AI Data Center - Digital HUB of DCH Technology Group (DCH Group), expected to be deployed in Ba Ria - Vung Tau province by the end of 2025. This is one of the largest private data center projects in Vietnam, oriented to become a key digital infrastructure center of Southeast Asia, serving applications of artificial intelligence, cloud computing and international connectivity. A highlight in DCH's strategy is its commitment to developing a green Data Center - using renewable energy from wind and solar power in the South Central and Southwest regions. DCH is cooperating with domestic energy partners to deploy a direct power supply model (Direct PPA) for the data center.
It is expected that 60% of DCH Digital HUB's electricity needs will be met by renewable sources by 2028, and the goal of achieving complete carbon neutrality (net-zero) by 2035. This will not only help reduce long-term operating costs, but also align with the ESG requirements of international investors..
Mr. Vladimir Kangin, CEO of IPTP Networks, is investing 200 million USD to build an AI Data Center in Da Nang High-Tech Park, commented: "The Vietnamese market has a lot of potential, investing early will seize the opportunity, but if you wait 5-10 years, you will be late." Vietnam is currently the country with the lowest cost of building a data center per MW in the region, with a profit margin second only to Singapore.
Mr. Kangin also recommended that the government allow telecom operators to utilize existing power transmission infrastructure to deploy fiber optic cables in parallel, which would help reduce new investment costs. He also urged for more flexible energy policies, encouraging the development of additional power plants — including nuclear energy — to support the rapidly growing AI data center sector.
In addition, Vietnam benefits from a rapidly improving legal framework for data, a strategic geographical position, strong connectivity infrastructure, and surging demand for data fueled by the boom in AI, cloud computing, fintech, and e-commerce. Together, these factors form a large, stable market for long-term growth.
However, to attract more robust investment, Vietnam still needs to address key challenges such as ensuring stable electricity supply, simplifying project approval procedures, expanding international transmission infrastructure, developing a skilled digital workforce, and improving climate resilience.
Mr. Dong Mai Lam, Country General Manager of Schneider Electric Vietnam and Cambodia, emphasized that AI is fundamentally transforming the way data centers are designed, operated, and optimized. By 2028, AI could account for 15–20% of total data center power consumption, up from 8% in 2023, requiring more efficient cooling systems and higher compute density. He also noted that data processing models are shifting from centralized to distributed architectures, with about 50% of AI workloads expected to run on hybrid systems — combining core data centers with edge computing — to improve speed and reduce latency.
(Source: tinnhanhchungkhoan.vn)