KBC, AIC and VietinBank signed a memorandum of understanding to cooperate in developing a data center project expected to be worth 2 billion USD.

On October 28, 2025, in London, Kinh Bac City Development Holding Corporation (KBC) signed a Memorandum of Understanding (MoU) with Accelerated Infrastructure Capital (AIC) - a platform for investment and development of data centers and digital infrastructure based in London and Hong Kong, together with Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), to cooperate in developing a 200MW artificial intelligence (AI) data center complex in Tan Phu Trung Industrial Park, Ho Chi Minh City.
 

The signing ceremony was held right after the reception for the delegation of international businesses and investors by Secretary of the Ho Chi Minh City Party Committee, Mr. Tran Luu Quang and Vice Chairman of the Ho Chi Minh City People's Committee, Mr. Nguyen Loc Ha.

According to the agreement, the three parties will coordinate on the basis of promoting the strengths of each party to implement the first phase of the data center project, and consider expanding to other locations nationwide in the next phases.

KBC - an experienced enterprise in the field of industrial park and urban development, sees the data center project as a suitable step in the strategy of upgrading the industrial park value chain: from traditional production infrastructure to digital and high-tech infrastructure. This is a natural development direction in KBC's industrial ecosystem, contributing to expanding the space to attract high-tech investment and digital services in Vietnam.

AIC brings international experience in the field of developing and operating data center, with a founding team consisting of leaders who have participated in many large-scale data center projects in Asia, the Middle East and Europe and a total investment portfolio of over 20 billion USD. AIC is looking forward to a long-term cooperation with KBC and related parties in developing a chain of hyperscale and neocloud data centers, serving the needs of cloud computing and AI in the region.

VietinBank, one of the largest commercial banks in Vietnam, will act as a financial partner, providing consulting services, project finance and capital mobilization, to ensure the project is implemented sustainably and effectively.

The total investment capital is expected to be nearly 2 billion USD, mobilized from equity and commercial loans, in which the equity capital is contributed by KBC, AIC and partners.

Upgrading Vietnam's industrial value chain with the SGI-HCM’s Data Center project

The SGI-HCM Campus project is oriented to develop as a large-scale AI data center complex, with a capacity of 200MW IT load and the ability to operate 100,000 GPUs, which will be established in the next few years.

The name “SGI-HCM” comes from Saigon Invest Group (SGI) - a prestigious private corporation in the field of infrastructure and industrial park investment, of which KBC is a key member. The project has a scale of 10 hectares, located in Tan Phu Trung Industrial Park (Cu Chi, Ho Chi Minh City) - an industrial park planned to attract high-tech industries and digital infrastructure services. The SGI-HCM Campus complex will be developed according to international standards, focusing on energy efficiency, information security and sustainability, contributing to creating a foundation for the development of digital industrial infrastructure in Vietnam.

KBC Leaders’ Statements

Mr. Dang Thanh Tam, Chairman of KBC Board of Directors, shared: “As a member of Saigon Invest Group, KBC wishes to contribute to the development of digital infrastructure in Vietnam. The data center is part of the process of upgrading the industrial park value chain, helping Vietnam to take the lead in new production and technology trends. We are honored to cooperate with domestic and foreign partners to implement this project, contributing to promoting investment, innovation and sustainable development.”

Mr. Dang Nguyen Nam Anh, Deputy General Director of KBC, emphasized: “Vietnam is entering the era of data and artificial intelligence, where data centers are the foundation of digital transformation. KBC will closely coordinate with domestic and foreign partners to jointly create data infrastructure and digital industry, based on its existing strengths in developing industrial parks and sustainable infrastructure.”

National Strategy: Breakthrough in Science and Technology Development to Boost the Economy

According to Resolution 57-NQ/TW of the Politburo (issued on December 22, 2024) on breakthrough in science, technology, innovation and digital transformation, AI is considered as a key area in national economic development.

During the official visit of General Secretary To Lam to the United Kingdom of Great Britain and Northern Ireland (October 28–30, 2025), the Vietnamese delegation met with the world's leading AI strategists, sharing their vision for responsible technology development, serving people and sustainable development.

Vietnam is currently considered as one of the fastest growing digital economic markets in the region, with a high-tech engineering workforce, competitive costs and large investment space in data infrastructure. This is a favorable time for domestic and foreign enterprises to join in the creation of a national digital platform, aiming for sustainable, comprehensive and inclusive development.

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