Billion-dollar big data center and AI project 'landing' in Ho Chi Minh City

Attracting many large and hyperscale data centers

The latest project is the nearly $2 billion artificial intelligence (AI) data center complex called SGI-HCM Campus, developed by Kinh Bac Urban Development Corporation in cooperation with Accelerated Infrastructure Capital (AIC) and VietinBank .

This super data center has a capacity of 200MW IT load, located in Tan Phu Trung Industrial Park, Cu Chi Commune. The project is oriented to become the region's leading data center complex, with the ability to operate 100,000 GPUs in the next few years.

The scale of 100,000 GPUs is considered a hyperscale data center in the world .

CMC's leading international standard Tan Thuan Data Center in Ho Chi Minh City. — CMC 's leading international standard Tan Thuan Data Center in Ho Chi Minh City.

According to KGB, the SGI-HCM Campus project is being implemented on a 10-hectare land fund in an industrial park planned for high technology, digital infrastructure and data services. This is an area with favorable connections to electricity, telecommunications and logistics infrastructure, meeting international standards for large data centers.

The three parties have agreed to cooperate on the basis of promoting the strengths of each party, to implement the first phase of the data center project, with consideration to expanding to other locations nationwide in the next phases, towards building a national AI data center chain.

The total investment capital is expected to be nearly 2 billion USD, mobilized from equity and loans, in which Kinh Bac, AIC and partners jointly contribute equity capital.

AIC is a unit specializing in investing and developing data centers and digital infrastructure, headquartered in London and Hong Kong (China), with a total investment portfolio of more than 20 billion USD.

According to Mr. Lam Dinh Thang, Director of the Department of Science and Technology of Ho Chi Minh City, the city has also received an investment proposal for a super data center and AI project worth nearly 2 billion USD from the G42 Group of the United Arab Emirates and Microsoft Corporation, along with Vietnamese partners FPT, VinaCapital and Viet Thai.

Ho Chi Minh City, G42 and Microsoft have reported to the Government about the project and set up a working group to work with investors.

Since the beginning of the year, a series of large, innovative data center projects with investment capital ranging from hundreds of millions to billions of USD have continuously poured into Ho Chi Minh City.

A series of large, innovative data center projects with investment capital ranging from hundreds of millions to billions of USD are continuously pouring into Ho Chi Minh City.

In April, Viettel Group started construction of the Viettel High-Tech Research and Development Data Center, also in Tan Phu Trung Industrial Park - Cu Chi Commune. The project has a total designed capacity of up to 140MW of electricity, with about 10,000 rack cabinets, designed to meet the high-performance computing needs of AI models and applications.

At the end of June, the Management Board of Ho Chi Minh City High-Tech Park also approved CMC Technology Group to invest in the CMC Hyperscale Data Center project worth more than 250 million USD.

Hyperscale DC SHTP Data Center is not just a normal Data center, but is designed as the "heart" of storing - computing - analyzing huge data, providing AI-as-a-Service, Cloud infrastructure, Big Data, Cyber Security for millions of users.

At the same time, the city is promoting cooperation with large technology corporations within the framework of Resolution 57. Many notable projects are being promoted such as NVIDIA (AI Lab) and SAP Labs (150 million EUR).

Currently, Ho Chi Minh City has more than 140 science and technology enterprises, ranking second in the country. In particular, Ho Chi Minh City has attracted many large and super large data centers.

Digital economy contributes 30 - 40% of GRDP

According to the Department of Science and Technology of Ho Chi Minh City, science, technology and innovation affirm their role as important driving forces for the city's growth. In the first 10 months of 2025, the city has achieved positive results that lay the foundation for development in the next 5 years.

It is expected that by 2025, the digital economy will contribute 25% to GRDP growth (22% in 2024) and continue to play a leading role in growth in the next 5 years, contributing 30 - 40% of GRDP.

The city currently owns a large technology platform including a High-Tech Park, 10 large data centers, and more than 500 research organizations. Notably, Ho Chi Minh City's digital financial activities have risen to the 30th position globally in Blockchain.

With the goal of entering the top 100 global innovative startup ecosystems, Ho Chi Minh City is outlining many strategic breakthroughs.

Ho Chi Minh City University of Economics and New York Institute of Finance signed a cooperation agreement to train human resources for the Ho Chi Minh City International Financial Center.

These include specific and outstanding mechanisms and policies to attract talent and investment capital, such as non-refundable financial support for innovation, preferential policies on salaries and wages; and the establishment of international standard research centers. At the same time, efforts are made to reform administration and attract investment, and specialized working groups are established to provide direct and timely support to strategic investors.

With the potential of nearly 100 high-quality training units in the area, many of the world's leading technology corporations have opened offices and R&D centers in Ho Chi Minh City, typically SAP, Marvell, and Qualcomm.

Currently, Ho Chi Minh City concentrates more than 55% of the country's programmers.

At the recently held Ho Chi Minh City - US Fall Forum 2025, the Ho Chi Minh City People's Committee presented a plan to implement the Memorandum of Understanding with AMD Corporation on human resource development and construction of an R&D center.
The Department of Finance signed a cooperation agreement with Nasdaq Stock Exchange, aiming to develop the Vietnam International Financial Center in Ho Chi Minh City.
The Management Board of the High-Tech Park and Evolution Data Centres Group signed a PDCA agreement, establishing a roadmap for implementing the $500 million Hyperscale Data Center Campus project at SHTP.
The Hi-Tech Park and Intel Corporation also signed a Memorandum of Understanding on cooperation, in which Intel will sponsor used chip packaging and testing equipment for training and research...

Ha Linh

Source: https://vtcnews.vn/du-an-trung-tam-du-lieu-lon-va-ai-hang-ty-usd-do-bo-tp-hcm-ar985399.html