UAE tech firm G42, Vietnamese partners plan $2 bln hyperscale data center in southern Vietnam hub
The United Arab Emirates's (UAE) state-backed firm G42 plans to partner with Vietnamese companies to develop a $2 billion hyperscale data center in Vietnam's southern hub Ho Chi Minh City.

Inside a data center in Ho Chi Minh City, southern Vietnam. Photo courtesy of Saigon Times.
Group 42 Holding Ltd (G42) boasts major shareholders including a UAE sovereign wealth fund and Microsoft, while its Vietnamese partners are FPT Corporation, investment fund manager VinaCapital, and Viet Thai Group.
In its proposal to Prime Minister Pham Minh Chinh, the municipal People’s Committee said the project aims to offer comprehensive AI solutions, combined with cutting-edge technological infrastructure, targeting cloud service customers across Asia and globally.
Designed as an "AI factory," the center is expected to drive technological applications across multiple sectors.
Given its strategic importance, the project is anticipated to have a wide-reaching impact on HCMC’s socio-economic development. It is expected to significantly contribute to local GDP growth, enhance the city’s appeal for international investment, and create thousands of high-quality jobs, while also supporting the development of a skilled IT workforce.
However, the committee noted that the investors are facing legal and regulatory hurdles and proposed the Prime Minister consider resolving these issues.
One challenge stems from the inconsistency between domestic and international legal frameworks, especially regarding data monitoring and traceability, it said, adding these inconsistencies could prompt investors to shift to countries with cross-border data storage policies.
Therefore, the municipal People’s Committee proposed implementing a special regulatory framework for projects with international business models, similar to Singapore’s approach.
For instance, Singapore allows cross-border data storage and retrieval, without mandating data to be stored locally. Companies may store data abroad as long as they meet data protection and privacy standards, which supports the operation of cross-border cloud computing systems.
Ho Chi Minh City also recommended a policy to prioritize cloud computing infrastructure over on-premises IT systems to enhance security and compliance with national security standards.
G42, founded in 2018 in Abu Dhabi, is a global leader in AI, cloud computing, and digital infrastructure. Currently, it operates 24 data centers with a total capacity of 204 MW and is a strategic partner of Microsoft. The company plans to increase its data center capacity to 500 MW across six countries by 2029.
In Vietnam, G42 intends to launch intelligent AI platforms, including distributed cloud computing models to boost national revenue and job creation, training programs to enhance digital skills and employment opportunities, and AI applications in public services to improve quality of life.
According to a May report from the Ministry of Science and Technology, Vietnam currently has 41 commercial data centers nationwide, operated by 12 companies, with a total designed capacity of 221 MW.
In April, military-run Viettel began construction on a new data center with a designed capacity of 140 MW, among the top 10 in Southeast Asia. Located in HCMC, the 4-hectare facility will support approximately 10,000 server racks and is expected to begin operations in early 2026. Once completed, it will be Vietnam’s first data center to exceed 100 MW in capacity.
In March, Saigon Asset Management (SAM), a U.S.-based private equity fund led by Shark Louis Nguyen and headquartered in HCMC, announced the launch of its SAM DigitalHub data center project.
The center will be built on a 50-hectare site in the Vietnam-Singapore Industrial Park (VSIP) in former Binh Duong province with a projected capacity of 150 MW and a total investment of up to $1.5 billion. The project will be developed in phases, with the first facility expected to go operational within two years. (HCMC, Ba Ria-Vung Tau, and Binh Duong have been merged to establish new HCMC).
On December 5, 2024, Prime Minister Pham Minh Chinh held a working session with Jensen Huang, founder, president and CEO of U.S. tech giant Nvidia, and witnessed the signing of an agreement between the Government of Vietnam and Nvidia on cooperation in establishing an AI R&D center and an AI data center in Vietnam.
The Prime Minister suggested that both sides collaborate in AI research and development to create a new production force based on Vietnam's AI capabilities in partnership with Nvidia, and outlined several specific directions for cooperation.
- Read More
Petrovietnam rakes in $19.5 bln in H1 revenue
State-owned Petrovietnam reported total revenue of VND510 trillion ($19.5 billion) in the first half of this year, driven by strong production performance.
Companies - Thu, July 10, 2025 | 4:03 pm GMT+7
Sustained momentum seen across all Vietnam's real estate sectors: Knight Frank
Ho Chi Minh City and Hanoi saw solid office leasing and apartment market rebounds after the Lunar New Year holiday (Tet). Industrial land surged with record H1 supply and strong absorption, underscoring Vietnam's appeal, while eased visa policies and new direct international flights continue to support 5‑star hotels in both the cities, write Knight Frank analysts.
Real Estate - Thu, July 10, 2025 | 2:37 pm GMT+7
Vietnam's maritime heavyweight VIMC to expand container port services, bulk cargo transport
Vietnam Maritime Corporation (VIMC) will increase revenue and profit via expanding operations in areas such as container port services, bulk cargo transport, and shipping of agricultural products and steel, leveraging existing infrastructure and fleet advantages.
Companies - Thu, July 10, 2025 | 2:15 pm GMT+7
Vietnam infrastructure spending surges 40%
Vietnam’s infrastructure spending surged 40% year-on-year in the first half of the year, fuelled by fast-tracked approvals of projects amid provincial mergers; legal reforms granting provinces more decision-making authority over project approvals; and the streamlining of disbursement processes, write chief economist Michael Kokalari and senior analyst Thai Viet Trinh at VinaCapital.
Consulting - Thu, July 10, 2025 | 11:56 am GMT+7
Phu Quoc enters Travel + Leisure’s top luxury destinations
Phu Quoc’s presence in Travel + Leisure’s Asia-Pacific luxury travel rankings continues to affirm the island’s status as a world-class destination.
Companies - Thu, July 10, 2025 | 11:43 am GMT+7
July dividend wave hits Vietnamese market following AGM season
Ending the 2025 AGM season, a series of Vietnamese companies have announced dates for finalizing the list of shareholders eligible for dividends in July.
Finance - Thu, July 10, 2025 | 11:07 am GMT+7
Cordless technology leader TTI plans to expand manufacturing in southern Vietnam
Germany's Techtronic Industries Company Limited (TTI), a world leader in power tools and outdoor power equipment, wants to expand its Milwaukee plant in Ho Chi Minh City.
Industries - Thu, July 10, 2025 | 8:58 am GMT+7
Vietnam pledges support for AES investment in green energy
Vietnam will continue to facilitate foreign investment and business activities, including those by U.S. enterprises, in line with laws and the country’s evolving development needs, said Tran Luu Quang, Chairman of the Party Central Committee’s Commission for Policies and Strategies.
Companies - Wed, July 9, 2025 | 11:10 pm GMT+7
Tezuka Daisuke appointed as new general director of Aeon Vietnam
Aeon Group has appointed Tezuka Daisuke, who is in charge of its organization reform for fiscal year 2025, as general director of Aeon Vietnam Co., Ltd.
Companies - Wed, July 9, 2025 | 11:03 pm GMT+7
Vietnam mobilizes over $7 bln for Just Energy Transition
Vietnam has so far mobilized more than $7 billion for its Just Energy Transition agenda under the Political Declaration on the Just Energy Transition Partnership (JETP).
Companies - Wed, July 9, 2025 | 10:38 pm GMT+7
Thailand hopes to conclude US trade talks before new deadline
Thailand is optimistic that it can finalize a trade deal with the U.S. before the August 1 deadline to avoid a 36% tariff imposed by President Donald Trump, according to Finance Minister Pichai Chunhavajira.
Southeast Asia - Wed, July 9, 2025 | 10:34 pm GMT+7
Southeast Asia seeks additional tariff negotiations with US
Southeast Asia's biggest economies are preparing to intensify trade negotiations with the U.S. after being subjected to steep tariff rates, despite having made a series of last-minute proposals aimed at increasing imports and significantly reducing tariffs on U.S. goods.
Southeast Asia - Wed, July 9, 2025 | 10:31 pm GMT+7
Foreign capital massively flows into banking, securities stocks
Foreign investors net bought for the sixth consecutive session on the Vietnamese stock market Wednesday, to the tune of nearly VND2,000 billion ($76.5 million), focusing on banking and securities stocks.
Finance - Wed, July 9, 2025 | 10:17 pm GMT+7
Four new container terminals to be built in northern Vietnam economic hub
Prime Minister Pham Minh Chinh has granted in-principle approval for the development of four new container terminals at Lach Huyen Port in the northern city of Hai Phong.
Infrastructure - Wed, July 9, 2025 | 5:36 pm GMT+7
Sausage mogul eyes $5 bln green energy, cattle project in northern Vietnam
Mai Huy Tan, who founded and later sold the popular Duc Viet sausage brand, has proposed a $5 billion circular economy complex in Quang Ninh province, northern Vietnam.
Industries - Wed, July 9, 2025 | 5:14 pm GMT+7
Northern Vietnam urban-tourism project Cat Ba Amatina has new investor
Hanoi Anpha Real Estate Exchange Co., Ltd. (Hanoi Anpha) has become a major shareholder of Vinaconex ITC, the developer of the Cat Ba Amatina urban-tourism project in Hai Phong city, northern Vietnam.
Real Estate - Wed, July 9, 2025 | 2:57 pm GMT+7