$1.23 billion boost for high-tech investment in Ho Chi Minh City

$1.23 billion boost for high-tech investment in Ho Chi Minh City

On April 25, Ho Chi Minh City People’s Committee awarded investment registration certificates to four projects in the city's high-tech park, with a combined investment of $1.23 billion.

Chairman of Ho Chi Minh City's People's Committee Nguyen Van Duoc giving the investment certificates to Evolution Data Centres

The newly licensed projects focus on high-tech sectors, including hyperscale data centres, biomedical technology, and smart electronics manufacturing.

Among them is a 52 MW data centre worth $508.7 million, developed by a consortium of three Singaporean investors (Hathor, Frontier, and Evolution). Another major project is the Starmason hyperscale data centre complex, with an investment of $480.2 million and a capacity of 60 MW, led by Starmason JSC.

Two additional projects include the Tam Anh High-Tech Centre, a $160 million initiative developed by Tam Anh General Hospital, and a smart electronics and IoT-integrated lithium battery manufacturing plant by Techtronic Tools Vietnam, with an investment of $81 million backed by Techtronic Industries (TTI).

Speaking at the ceremony, Nguyen Ky Phung, head of Saigon High-Tech Park Management Board, said the park attracted $1.23 billion in investment in the first quarter of 2026. He noted that the result reflects not only the city’s strong commitment to supporting businesses, but also the growing appeal and credibility of its investment environment among leading global technology corporations.

The newly licensed projects are expected to contribute to regional GDP growth while reinforcing the city’s role as a regional hub for innovation, digital infrastructure, and green and digital industries.

From the investor side, Darren Webb, general director of Evolution Data Centres, expressed enthusiasm as the project moves from planning to construction. He stated the company’s commitment to deploying advanced technologies and renewable energy solutions to strengthen Vietnam’s global positioning, while also hoping for continued support from city authorities.

Chairman of the People’s Committee, Nguyen Van Duoc, highlighted that in the first quarter of 2026, the city led the country in foreign direct investment attraction, reaching $2.9 billion. Notably, $1.23 billion, nearly half of the total, was directed into the digital and green economy sectors within the high-tech park.

He noted that obtaining an investment certificate was only the beginning, and that real effectiveness will be measured once projects become operational and deliver tangible value. “The city is committed to providing maximum support in administrative procedures and the business environment, and stands ready to work alongside investors to address any challenges during project implementation,” he said.

VIR