Ho Chi Minh City backs $2 billion AI data centre with dedicated task force

Ho Chi Minh City backs $2 billion AI data centre with dedicated task force

Ho Chi Minh Cityis stepping up efforts to position itself as a regional AI and data centre hub, pledging strong institutional support for a flagship foreign-invested project worth nearly $2 billion.

Ho Chi Minh City People's Committee has committed to supporting investors to accelerate the implementation of an AI-focused data centre campus developed by Kinh Bac City Development Holding Corporation and its foreign partner, Accelerated Infrastructure Capital (AIC).

To this end, a dedicated task force was established on December 30, comprising 15 members and led by Lam Dinh Thang, director of Ho Chi Minh City Department of Science and Technology. The task force also includes representatives from Kinh Bac City, AIC – a Hong Kong- and London-based data centre infrastructure investor – and Northwest Saigon City Development Corporation.

Acting as the standing coordination body, the task force will be responsible for expediting implementation, addressing regulatory and procedural delays within its authority, and supporting investors in completing legal requirements in line with regulations and approved timelines.

The project stems from an MoU signed last November between Kinh Bac, AIC, and VietinBank to jointly develop the SGI-HCM Campus, an AI-dedicated data centre complex in Cu Chi district with an estimated investment of $2 billion. The capital structure will combine equity contributions from Kinh Bac, AIC, and partners, alongside commercial loans.

Located on a 10-hectare site within Tan Phu Trung Industrial Park – developed by Northwest Saigon City Development Corporation – the SGI-HCM Campus is designed with a planned power capacity of 200MW. Once fully operational, it is expected to rank among the region’s largest AI-oriented data centre complexes, with the capacity to run up to 100,000 graphics processing units (GPUs) in the coming years.

The project adds to a growing pipeline of large-scale data centre investments in the city. In October, the Department of Science and Technology said Abu Dhabi-based G42 was planning to invest around $2 billion in a hyperscale AI data centre in Ho Chi Minh City. Earlier, in April, Viettel began construction of a 140 MW data centre in Tan Phu Trung Industrial Park, which is set to become one of Southeast Asia’s largest and Vietnam’s first hyperscale facility.

Vietnam currently hosts 41 commercial data centres with a combined designed capacity of 221MW, underscoring the rapid expansion of the country’s digital infrastructure landscape.

VIR