INTERNATIONAL INVESTMENT
AND PORTAL
After months of competition between domestic and foreign investors, the race to build data centres (DCs) in Ho Chi Minh City has reached a defining moment.
On April 23, Viettel Group broke ground on its High-Tech Data Centre and research and development (R&D) facility in Tan Phu Trung Industrial Park of Cu Chi district.
Slated to become operational in 2026, this hyperscale facility will rank among the top 10 largest DCs in Southeast Asia.
Spanning nearly four hectares, it boasts a total design capacity of 140MW and will house approximately 10,000 racks, the first of its kind in Vietnam to surpass the 100MW threshold, aligning it with leading global data hubs.
Designed and operated to meet Uptime Institute’s Tier III international standards, the DC will offer an average rack density of 10kW, 2.5 times higher than the national average. Its maximum rack capacity of up to 60kW is tailored for high-performance computing and AI-driven applications.
According to Vo Van Hoan, Vice Chairman of Ho Chi Minh City People’s Committee, the DC will not only advance Viettel’s ambitions but also provide a powerful catalyst for the city’s digital infrastructure, smart city initiatives, and e-government transformation.
“It will accelerate adoption of advanced technologies such as AI, 5G, cloud computing, blockchain, cybersecurity, and big data, while fostering a dynamic innovation ecosystem, upskilling the digital workforce, and generating high-value employment to support the digital economy,” Hoan said.
Viettel chairman and CEO Major General Tao Duc Thang added that this facility is not a standalone venture, but a critical piece of Viettel’s national digital infrastructure strategy.
“We are building an integrated ecosystem where data is securely stored, transmitted, processed, and protected,” said Thang.
Viettel currently operates 15 DCs in Hanoi, Danang, Ho Chi Minh City, and Binh Duong.
“By the end of this year, we will have deployed 20,000 5G base stations to cover 95 per cent of urban areas nationwide, enabling superior connectivity alongside hyperscale computing infrastructure to support comprehensive services for citizens, businesses, and government,” he said.
In March, the Management Board of Saigon Hi-Tech Park (SHTP) approved investment and selected CMC Technology Corporation as the investor for a new hyperscale DC facility in Thu Duc of Ho Chi Minh City.
The eight-story facility will cover more than 30,200sq.m and house 3,000 racks, with a total IT load capacity of 30MW. With a total investment of approximately $250 million, construction is expected to begin in Q2 of 2026.
The project has drawn strong interest from major global players, including the Coteccons–Eaton consortium from the US, Evolution Data Centres (a Warburg Pincus-backed company), and South Korea’s Hyosung.
According to the SHTP Management Board, investor selection followed rigorous legal procedures, with close scrutiny of technology solutions, financial capacity, and planning criteria to ensure the quality and long-term viability of this strategic development.
Board head Nguyen Ky Phung said that DC development as a top priority in the park’s upcoming investment agenda, alongside key sectors such as microelectronics, semiconductors, AI, robotics, and biotechnology.
“We are committed to attracting R&D-focused projects, facilitating technology transfer, and building an innovation ecosystem that supports startups and high-tech enterprises,” Phung said.
Tran Viet Ha, deputy head of the Ho Chi Minh City Export Processing and Industrial Zones Authority, observed that DCs are gaining traction among investors.
“We are accelerating infrastructure upgrades across industrial areas to support these projects, particularly in ensuring high-capacity, stable electricity supply with robust backup systems, essential for DC operations,” Ha said.
From a global perspective, Celina Chua, director of Data Centre Solutions at JLL, noted that Vietnam is quickly becoming a top-tier destination for DC investment.
“Vietnam’s Power Development Plan VIII aims to double the country’s power generation capacity to 155GW, an essential upgrade to meet the energy-intensive demands of DC development,” Chua said.
In addition, the revised Telecommunications Law, which came into effect in January, provides a clearer and stricter legal framework for DC and cloud services, officially categorising them as telecommunications services and allowing full foreign ownership, a significant push for international investors.
According to the Digital Vietnam 2024 report by We Are Social, as of January 2024, Vietnam recorded over 168 million mobile connections, surpassing its population, along with more than 78 million internet users and 72.7 million social media users. These figures clearly reflect a reality: consumers are rapidly shifting to the digital space.
As Vietnam’s market experiences a boom in social media user engagement, businesses are also redirecting investments toward digital marketing channels. According to Statista, digital advertising spending in Vietnam is projected to reach $1.8 billion by 2028, with an annual compound growth rate exceeding 9 per cent. This trend highlights a significant shift in budgets from traditional advertising to social media platforms.
Reports indicate that digital marketing remains one of the hottest industries in the modern era, with professionals in social media-related roles being highly sought after by companies. Starting salaries can reach up to VND40 million ($1,600) per month, depending on the role and years of experience.
A survey by British University Vietnam shows that around 40-50 per cent of graduates from international universities in digital marketing and social media work at multinational companies or abroad, with an average starting salary of approximately VND30 million ($1,200) per month.
Data centre prospects within reach for investors
Saigon Asset Management in March announced the launch of a data centre campus with targeted investment of up to $1.5 billion. VIR’s Bich Ngoc talked with chairman and CEO Louis Nguyen on the implementation process of this huge project.
