There have been a series of domestic and foreign businesses proposing to be investors in the Data Center Project in Ho Chi Minh City High-Tech Park (SHTP).
The billion-dollar "giant" targets the project.
In early April 2024, Hathor DC Vietnam Holdings Pte. Ltd - a subsidiary of Evolution Data Centers Group has sent a document to Ho Chi Minh City People's Committee to register as a strategic investor of the Hyperscaler Data Center Project in Ho Chi Minh City Hi-Tech Park.
In early May 2024, Hyosung Group (Korea) also sent a document to Ho Chi Minh City People's Committee proposing investment in this project. In a document sent to the People's Committee of Ho Chi Minh City, Mr. Bae In Han, General Director of Hyosung Dong Nai Co., Ltd. said that in addition to the projects being invested in Dong Nai and Ba Ria - Vung Tau, the business is promoting development. Developing large projects with high technology content, expanding into the information technology field such as data centers.
A domestic investor, Coteccons Construction Joint Stock Company, also sent Document No. 0805/COTECCONS-DA to the People's Committee of Ho Chi Minh City and the Hi-Tech Park Management Board to register a working schedule to discuss the Central Project. Data at Ho Chi Minh City High-Tech Park. Coteccons said that it has been interested in the Project since 2023 and learned about the investment criteria, conducted field surveys and found that the Project is completely consistent with the development strategy of the business and its partners.
After receiving proposals from investors, the Ho Chi Minh City Hi-Tech Park Management Board worked with businesses to inform about investment criteria in the Data Center Project. In a recent report to the People's Committee of Ho Chi Minh City on the results of working with investors, Mr. Nguyen Anh Thi, Head of the High-Tech Park Management Board, said that the Management Board is in the process of building a List of project to attract investment into the High-Tech Park in the period 2024 - 2025.
Next, the Management Board will seek opinions from the Ministry of Science and Technology before submitting to the People's Committee of Ho Chi Minh City to promulgate the List according to the provisions of Clause 7, Article 19, Decree No. 10/2024/ND-CP dated February 1, 2024 of the Government regulating High-Tech Parks. After the List is issued, the Hi-Tech Park Management Board will notify investors to register project proposals according to the provisions of the Investment Law.
"Gold mine" of Ho Chi Minh City
At the recent conference on researching economic development solutions taking place in Ho Chi Minh City, Mr. Nguyen Huu Tuan, Deputy Director of the Southern Solution Center, Enterprise Solutions Corporation Viettel said that in 2025, Viettel will invest in the largest Data Center in Vietnam in Cu Chi. The project is invested on a land area of 40,000 m2, with a total investment of 14,700 billion VND.
According to Mr. Tuan, Ho Chi Minh City is attracting large technology corporations to invest in data centers. He also recommended that Ho Chi Minh City needs to attract more businesses to set up data centers to bring revenue to the City.
From a market perspective, Ms. Celina Chua, Director of Data Center Customer Solutions of Jones Lang Lasalle Group (JLL) assessed that, thanks to its strategic geographical location and dynamic economic policies, Vietnam Nam is becoming an important hub for data centers in Asia with investors high on their list of destinations.
The basis for Ms. Celina Chua to make the above assessment is that Vietnam's newly approved Power Plan VIII sets the goal of increasing the country's total power generation capacity from 80 GW to 155 GW through diversifying the power structure. energy, reducing dependence on coal power and switching to more sustainable energy sources. Ensuring a stable and reliable energy supply to meet the increasing demand of the rapidly growing and energy-consuming data center sector in Vietnam.
Another important factor attracting investors is the Telecommunications Law 2023, effective from January 2025, which will provide a more structured legal framework with clear definitions and instructions for services. data center and cloud computing services as telecommunications services.
“With a flexible governance approach, the Telecommunications Law 2023 is expected to provide a favorable legal framework for the development of the industry, potentially attracting more foreign investment with the liberalization of market access conditions. The law allows 100% foreign investment in data center services," Ms. Celina Chua emphasized.
According to Investment Newspaper