Connect with us

Project

SAM to develop $1.5 bln data center in southern Vietnam

Published

2 days ago

on

Ho Chi Minh City-based fund Saigon Asset Management (SAM) has launched a $1.5 billion data center project in the southern province of Binh Duong, aiming to capitalize on Vietnam’s growing demand for digital infrastructure.

SAM will partner with the Vietnam Singapore Industrial Park (VSIP), a Singapore-backed major industrial park developer, to implement the project, called the SAM DigitalHub.

The data center, with a designed capacity of 150 MW, will cover 50 hectares at the VSIP and is expected to begin operations in two years. Once completed, it will be the biggest data center in Vietnam.

The Vietnam-Singapore Industrial Park I in Binh Duong province, southern Vietnam. Photo courtesy of VSIP.

The Vietnam-Singapore Industrial Park I in Binh Duong province, southern Vietnam. Photo courtesy of VSIP.

SAM is seeking potential investors, including local banks, to finance the project, SAM’s CEO Louis Nguyen said.

Recently, SAM debuted the $300 million Vietnam Data Center Fund (VDCF) to prepare for the project, with the first closing scheduled by Q4 this year.

According to a report by Cushman & Wakefield, Vietnam’s developing data center capacity is approximately 92 MW, with an average construction cost of $6.9 million per MW. To meet future demand, the country will need to attract around $640 million in investment over the next five to seven years.

Vietnam’s data center market is still in its early stages, with the lowest population-to-MW ratio in the Asia Pacific region (1.83 million people per MW). However, with a population exceeding 100 million and an average GDP growth rate of 6.25%, the market presents significant growth potential in the coming years, said Trang Bui, country head of Cushman & Wakefield Vietnam.

To support long-term growth, the Vietnamese government should continue improving its digital infrastructure, including terrestrial and submarine cable connectivity, ensuring reliable and uninterrupted power supply, and fostering a policy framework conducive to data center expansion, she suggested.

Related Topics:

Project

E-tax system resumes full operations after temporary suspension

Published

9 minutes ago

on

March 17, 2025

By

The suspension, which lasted from 5pm on March 12 until 8am on March 17, was necessary to enhance tax management and implement structural changes.

E-tax system resumes full operations after temporary suspension
The tax authority has stated that all systems are now running smoothly, ensuring seamless tax transactions for individuals, businesses and foreign entities. (Photo: baodautu.vn)

Hanoi – Vietnam’s electronic tax system has resumed full operations starting at 8am on March 17, after a temporary suspension for system upgrades and data restructuring, the tax authority announced.

The suspension, which lasted from 5pm on March 12 until 8am on March 17, was necessary to enhance tax management and implement structural changes.

During this period, certain services such as electronic tax payment (eTax), eTax Mobile and tax applications for individuals were temporarily halted, while other functions remained accessible.

Foreign businesses operating in Vietnam can now fully access the e-portal for foreign suppliers, which remained operational but may have experienced minor delays in processing transactions during the upgrade.

Director of the Department of Taxation Mai Xuan Thanh instructed tax departments to ensure secure data migration and a smooth transition, allowing businesses and individuals to resume using the e-tax system without disruption.

Continue Reading

Project

Central Vietnam province aims to add 2,300 MW of wind power to development plan

Published

1 hour ago

on

March 17, 2025

By

Vietnam’s central province of Quang Tri plans to add 1,800 MW of 43 land-based wind power projects and 500 MW of offshore wind power to the draft implementation scheme of the national power development plan VIII (PDP VIII).

The draft scheme also features 260.5 MW of hydropower, 119.6 MW of solar power, and 23 MW of rooftop solar power for self-consumption, Quang Tri authorities discussed last week.

Quang Tri's acting Chairman Ha Sy Dong (standing) speaks at a meeting in the province, central Vietnam, March 14, 2025. Photo courtesy of Quang Tri newspaper.

Quang Tri’s acting Chairman Ha Sy Dong (standing) speaks at a meeting in the province, central Vietnam, March 14, 2025. Photo courtesy of Quang Tri newspaper.

Until 2030, Quang Tri aims to facilitate power import of 2,000 MW from Laos.

Provincial authorities will also facilitate investors of 500 kV, 200 kV, and 100 kV power grid projects, in line with the deployment of wind, solar, gas-fired power, and imported power (from Laos) projects.

Addressing the meeting, Quang Tri’s acting Chairman Ha Sy Dong asked the Department of Industry and Trade to collaborate with investors to complete the applications for in-principle approval by March 20.

He also requested the Department of Finance to finalize the land recovery plan for site clearance by March 25.

Vietnam’s current PDP VIII has 6,000 MW of offshore wind power, including 500 MW in the central-central region.

In February 2025, Vietnamese Ministry of Industry and Trade proposed delaying the development of offshore wind power until after 2030, instead of meeting the initial target of 6,000 MW by 2030.

However, in March 2025, the Government requested that offshore wind power projects under the PDP VIII must complete by 2030.

Continue Reading

Project

Manufacturing, processing push up industrial growth in five months

Published

3 hours ago

on

March 17, 2025

By

Vietnam’s industrial sector experienced positive growth in the January-May period, with 55 out of 63 provinces and centrally-run cities nationwide reporting annual increases in the Index of Industrial Production (IIP), according to the General Statistics Office (GSO).

The GSO identified manufacturing, processing, and electricity production and distribution as the primary drivers of the growth. Provinces recording high growth included Phu Tho (31.2%), Bac Giang (24.9%), and Binh Phuoc (14.8%). However, some other provinces like Ha Tinh, Quang Ngai and Ca Mau saw respective declines of 9%, 8.25% and 2.5% in their indexes.

Overall, the national IIP in May continued its upward trajectory, rising 3.9% month-on-month and 8.9% year-on-year. The five-month period saw an yearly increase of 6.8%.

A deeper analysis revealed the processing and manufacturing industries as the key contributor to the growth, boasting a 7.3% rise and adding 6.4 percentage points to the overall increase. The electricity production and distribution sector also performed strongly, with 12.7% growth, contributing 1.1 percentage points. Additionally, the water supply, waste, and wastewater management sector went up 6.3%, adding 0.1 percentage point. However, the mining sector experienced a decline of 5.2%, resulting in a reduction of 0.8 percentage point in the overall growth.

Specific product categories within the processing and manufacturing sectors posted impressive growth. Production of rubber and plastic products surged by 27.4%, while electrical equipment saw a 24% increase. Production of chemicals and chemical products grew by 20.1%, followed by beds, cabinets, tables, and chairs (19.6%) and metal products (13.2%).

In light of these findings, the GSO proposed a series of recommendations to further bolster Vietnam’s industrial development. It urged the Ministry of Industry and Trade (MoIT) to prioritise a structural shift toward increasing the proportion of processing and manufacturing industries within the overall industrial sector, while simultaneously reducing reliance on the assembly and processing of imported products; enhance enterprise competitiveness and incentivise the use of domestically produced goods via technical barriers for certain imports.

Additionally, the GSO recommended that the MoIT refine key institutions such as the Key Industrial Law and the Law on Chemicals. Expediting the disbursement of public investment capital and hastening crucial projects in the fields of electricity, oil and gas, manufacturing, processing, and mining are also highlighted as crucial steps.

Head of the GSO’s Industrial and Construction Statistics Department Phi Thi Huong Nga suggested that localities should launch more stimulus and promotion schemes to increase purchasing power while helping industrial firms find partners and expand markets through trade exhibitions.

Continue Reading

Trending