On the morning of March 11, at Tan Phu Trung Industrial Park, a Memorandum of Understanding (MOU) signing ceremony took place between the Ho Chi Minh City Department of Science and Technology and Accelerated Infrastructure Capital (AIC) regarding the investment in an artificial intelligence (AI) data center. At the same time, the investment registration dossier for the project was formally submitted. The event was witnessed by Mr. Nguyen Van Duoc, Chairman of the Ho Chi Minh City People’s Committee, together with representatives of relevant departments, agencies, and international partners. This will be the first AI mega-project in Ho Chi Minh City, with a total estimated investment of approximately USD 2.1 billion. The project will be implemented by a joint venture between AIC, Kinh Bac City Development Holding Corporation, and international partners. The project includes components such as a data center, regional infrastructure, equipment systems, power supply, water supply and drain
On the morning of March 11, at Tan Phu Trung Industrial Park, a Memorandum of Understanding (MOU) signing ceremony took place between the Ho Chi Minh City Department of Science and Technology and Accelerated Infrastructure Capital (AIC) regarding the investment in an artificial intelligence (AI) data center. At the same time, the investment registration dossier for the project was formally submitted. The event was witnessed by Mr. Nguyen Van Duoc, Chairman of the Ho Chi Minh City People’s Committee, together with representatives of relevant departments, agencies, and international partners. This will be the first AI mega-project in Ho Chi Minh City, with a total estimated investment of approximately USD 2.1 billion. The project will be implemented by a joint venture between AIC, Kinh Bac City Development Holding Corporation, and international partners. The project includes components such as a data center, regional infrastructure, equipment systems, power supply, water supply and drainage systems, and GPU infrastructure. The entire investment capital is expected to be fully committed and disbursed by the end of the first quarter of 2027.
Mr. Nguyen Van Duoc, Chairman of the Ho Chi Minh City People’s Committee, witnessed the signing ceremony of the Memorandum of Understanding between the Ho Chi Minh City Department of Science and Technology and Accelerated Infrastructure Capital (AIC) on the investment in an AI Data Center at Tan Phu Trung Industrial Park, Cu Chi Commune.
Mega Project with a Total Investment of Approximately USD 2.1 Billion
Speaking at the ceremony, Mr. Lam Dinh Thang, Director of the Ho Chi Minh City Department of Science and Technology, stated that the first phase of the project includes the development of an artificial intelligence factory with a capacity of up to 50MW, equivalent to approximately 28,000 graphics processing units (GPUs), to be deployed at Lot B2-1, Tan Phu Trung Industrial Park.
Mr. Lam Dinh Thang, Director of the Ho Chi Minh City Department of Science and Technology, stated that the project has a total investment of USD 2.1 billion.
The project is designed to be ready for commercial operation according to a defined roadmap, aiming to provide computing capacity to serve artificial intelligence and high-performance computing demands for domestic and international customers, as well as Vietnam’s sovereign AI requirements.
The signing ceremony of the Memorandum of Understanding between the Ho Chi Minh City Department of Science and Technology and Accelerated Infrastructure Capital (AIC).
The signing of this Memorandum of Understanding today not only marks the implementation of a specific project but also demonstrates Ho Chi Minh City’s proactive and active approach in expanding and enhancing cooperation with reputable international partners in the technology sector.
Through this cooperation, the City will have the opportunity to access advanced models, methods, and solutions in the investment, construction, and operation of large-scale data centers, thereby creating new momentum for digital economic development and enhancing competitiveness.
Rapid Groundbreaking Plan
On behalf of the investor consortium, Mr. Oliver Jones, Co-founder of AIC Group, stated that the project’s progress has moved faster than initially expected. He expressed his appreciation for the support from Ho Chi Minh City authorities during the project implementation process. “We hope that this AI Data Center will become a technological hub not only in Vietnam but also across Southeast Asia,” Mr. Oliver Jones emphasized.
Mr. Dang Thanh Tam, Chairman of the Board of Directors of Kinh Bac City Development Holding Corporation, represented at the ceremony.
Speaking at the event, the Chairman of KBC affirmed that infrastructure preparations have been completed, and relevant units have committed to ensuring adequate electricity and water supply for the project. Currently, in accordance with the direction of Ho Chi Minh City, the project is expected to break ground on April 30. According to Mr. Dang Thanh Tam, Ho Chi Minh City is the first locality in Vietnam to develop an AI Data Center. Globally, only a limited number of countries have built such facilities, primarily among the world’s most advanced nations, including the United States. An AI Data Center is the heart of smart technology infrastructure and a prerequisite for Ho Chi Minh City to develop into a smart city, helping address many current challenges, from traffic congestion to urban flooding. Therefore, he expressed his hope that Ho Chi Minh City would strongly support the project to enable its early implementation. Through this, the project will not only provide services to international customers but also contribute to the development of Ho Chi Minh City, helping the city become a smart city.
Mr. Nguyen Van Duoc, Chairman of the Ho Chi Minh City People’s Committee, emphasized that the AI Data Center project has received significant attention from the city’s leadership.
In his remarks at the ceremony, Mr. Nguyen Van Duoc stated that the AI Data Center project at Tan Phu Trung Industrial Park is the first AI Data Center project in Ho Chi Minh City and therefore receives special attention from the city’s leadership. Within a short period of time, the parties have reached the signing stage and are planning to break ground on the upcoming April 30 anniversary. All commitments from both Ho Chi Minh City and the investors have been clearly reflected in the signed agreement.
The entire investment capital is expected to be fully disbursed by the end of the first quarter of 2027 in accordance with the investor’s implementation schedule. Once operational, the AI Data Center will contribute to forming modern computing infrastructure to support the development of new technologies, while also providing a foundation for research, development, and the application of artificial intelligence in Ho Chi Minh City.
Previously, in October 2025 in London, Kinh Bac City Development Holding Corporation (KBC) signed a Memorandum of Understanding with Accelerated Infrastructure Capital (AIC) - an investment and development platform for data centers and digital infrastructure headquartered 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 data center complex at Tan Phu Trung Industrial Park, Ho Chi Minh City. Under the terms of the agreement, the three parties will collaborate by leveraging their respective strengths in implementing the first phase of the AI Data Center project strategy, while also considering expansion to other locations nationwide in subsequent phases.