Southeast Asia Information Port News (www.dnyxxg.com) – Ho Chi Minh City's foreign direct investment (FDI) structure is undergoing a significant transformation, with large-scale data centers, digital infrastructure, and fintech becoming key areas of focus for international capital, injecting high-quality growth momentum into the city's economy.
Recently, the UAE's G42 Group signed a cooperation agreement with a consortium of Vietnamese investors, planning to invest US$2 billion to build and operate an internationally standardized large-scale data center in the city, providing digital technology support for government, businesses, and international partners. Simultaneously, a US investor is advancing another US$2 billion data center project, committing to disburse US$1.2 billion (60% of the total investment) by the second quarter of 2026. Nguyen Van Duc, Chairman of the Ho Chi Minh City People's Committee, stated that such large-scale investments will help the city achieve its double-digit economic growth target.
The Ho Chi Minh City International Financial Center (VIFC-HCMC), which officially opened on February 11, serves as an important vehicle for this transformation. The center focuses on technological infrastructure development and aims to become a regional capital hub. It has already attracted a commitment from Singapore-Australia asset management company VPAM to invest US$10 billion over five years, primarily in data infrastructure, fintech, and smart cities. In addition, the city is simultaneously advancing a US$1 billion digital asset investment fund plan, and VIFC-HCMC will expand into specialized fields such as aviation finance and maritime finance, serving the multi-billion dollar market demand in the Asia-Pacific region.
This shift signifies Ho Chi Minh City's FDI transformation from traditional manufacturing to high-value-added sectors, upgrading its competitive advantage from low-cost labor to digital infrastructure and ecosystems. To match this transformation, the city is advancing large-scale infrastructure projects such as the Can Gia International Transit Port and the metro system, as well as energy projects with a total installed capacity of 15,000 MW, including offshore wind power and LNG power generation, ensuring energy supply for the digital economy and aligning with international sustainable development standards.
Lim Dinh Thang, Director of the Ho Chi Minh City Department of Science and Technology, pointed out that investment in digital infrastructure and artificial intelligence is key to the city's digital transformation and the construction of an international financial center. It is understood that the city aims to restore double-digit GRDP growth starting in 2026 and become an international metropolis by 2045. Currently, it is continuously enhancing its attractiveness to high-quality FDI by optimizing the investment environment and improving infrastructure and human resource development. (End)
