Proposal to invest $2 billion in a mega data center in Ho Chi Minh City.

Ho Chi Minh City received a proposal for a super data center project worth about 2 billion USD from investors with famous shareholders such as Microsoft Corporation, UAE State Investment Fund...

The mega data center project will be a strategic project in Ho Chi Minh City - Photo: HUU HANH

The Ho Chi Minh City People's Committee has recently sent a document to the Prime Minister proposing a meeting with the Prime Minister and investors to present in detail the obstacles and solutions to the proposed mega-data center project worth approximately $2 billion.

Mega Data Center: A Strategic Project

Ho Chi Minh City has received a proposal for an investment project to build a hyperscale data center dedicated to the development of artificial intelligence (AI) and data centers, valued at approximately US$2 billion, from a group of investors including: G42 Technology Joint Stock Company (whose main shareholders are the State Investment Fund of the United Arab Emirates - UAE and Microsoft Corporation),FPT Corporation, VinaCapital Investment Fund, and Viet Thai Investment Group.

This project will provide a comprehensive artificial intelligence solution and advanced infrastructure for cloud service customers in Asia and around the world , designed to function as an AI factory.

This is a strategically significant project with far-reaching impacts on the socio-economic development of Ho Chi Minh City, making a substantial contribution to GDP growth, increasing the attractiveness of foreign investment, and creating thousands of high-quality jobs, contributing to the development of information technology human resources in Ho Chi Minh City.

Regarding G42 Technology Joint Stock Company, since its establishment in 2018 in Abu Dhabi (UAE), G42 has expanded its global operations to include artificial intelligence solutions and models, AI infrastructure, and AI cloud computing.

Regarding the G42 data center network, there are currently 24 operational centers with a capacity of 204 MW, making it a preferred partner of Microsoft, with the goal of expanding to 500 MW of data center capacity across 6 countries by 2029.

G42 plans to deploy artificial intelligence in Vietnam, including: a distributed cloud model to quantify revenue growth and job creation at the national level; improving skills and access to employment; and enhancing public services and quality of life for citizens.

Ho Chi Minh City proposes a special mechanism for the project - Photo: HUU HANH

Propose a special mechanism for the project.

However, investors are facing some legal and regulatory obstacles.

Therefore, the Ho Chi Minh City People's Committee proposed that the Prime Minister consider removing obstacles and establishing a special mechanism for the project. This is because the project aims to serve not only Vietnam but also the whole world, with the goal of developing Ho Chi Minh City into a leading technology business center in Asia.

Currently, the lack of synchronization between domestic and international legal frameworks – particularly regarding certain data regulations – could create risks and barriers for the project's international clients. This limitation on expansion, due to dependence on global data systems and data monitoring and retrieval processes within Vietnam, may lead investors to shift their investments to countries that allow cross-border data storage.

Therefore, the Ho Chi Minh City People's Committee proposes that the Prime Minister consider applying a special mechanism to projects with international business models similar to the policy currently being implemented in Singapore.

The Ho Chi Minh City People's Committee also proposed that the Prime Minister consider issuing a policy prioritizing the use of cloud computing infrastructure instead of on-premise IT infrastructure, in order to enhance security, standardize national security standards, and promote the effective implementation of the Prime Minister's decision on the national action program for the development and transition to using cloud computing platforms in the period 2025 - 2030.

Continue to promote the Digital Literacy Movement in Ho Chi Minh City.

During the first six months of 2025, the Digital Literacy Movement in Ho Chi Minh City was actively promoted, contributing to raising community awareness and fostering a spirit of self-learning and mastery of digital technology among the city's residents.

Ho Chi Minh City has organized 173 training courses to develop human resources in artificial intelligence, digital transformation, and information technology for 20,000 officials, civil servants, and public employees.

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Source: https://tuoitre.vn/de-xuat-dau-tu-sieu-trung-tam-du-lieu-tri-gia-2-ti-do-la-tai-tp-hcm-20250709185035268.htm