Ho Chi Minh City Unveils $1.23 Billion High-Tech Investment Push, Bolstering Digital Infrastructure and Biotechnology

In a significant boost to its digital infrastructure, biotechnology, and smart manufacturing capabilities, Ho Chi Minh City has granted investment certificates to four major high-tech projects totaling over $1.23 billion. This substantial investment aims to propel the city forward as a leading hub for innovation and technology in the region.

The investment certificates were awarded at a ceremony attended by high-ranking officials, including Mr. Nguyen Van Duoc, Chairman of the Ho Chi Minh City People’s Committee. Mr. Nguyen Ky Phung, Head of the Saigon Hi-Tech Park Management Board, highlighted the significance of this milestone, noting that it ranks among the largest investment approvals at the park. The four projects are expected to play a critical role in shaping the city’s economic future and cementing its position as a key player in high-tech industries.

One of the most notable aspects of this investment push is the licensing of two hyperscale data centers, with a combined investment of nearly $1 billion. The Evolution DC project, developed by a consortium of Singaporean investors, boasts a registered capital of $508.78 million and a designed capacity of 52MW. This project meets Uptime Tier III+ standards and is oriented toward Tier IV, making it an attractive option for cloud computing, artificial intelligence, and big data processing. Moreover, the project has committed to using at least 30 percent renewable energy and aims for net-zero emissions by 2045.

The second hyperscale data center, the Starmason complex, has an investment of $480.26 million and a capacity of 60MW. This project is set to significantly enhance the city’s large-scale digital infrastructure, strengthen data security, and attract global ICT service providers. The development of these data centers will not only contribute to the growth of Ho Chi Minh City’s digital economy but also create new opportunities for businesses and industries to thrive in the region.

Another significant project is the High-Tech Center by Tam Anh General Hospital, valued at $160 million. This project will integrate next-generation gene sequencing technology, regenerative medicine using stem cells, and clinical trial systems meeting international ICH-GCP standards. The aim is to develop a biomedical research ecosystem, high-tech medical products, and train around 5,000 experts and trainees annually. This initiative has the potential to place Ho Chi Minh City at the forefront of biomedical innovation, fostering a culture of research and development that can address some of the world’s most pressing health challenges.

The Phase 2 expansion of the Techtronic Industries factory, with an investment of $81 million, will focus on smart devices, IoT technologies, high-performance lithium batteries, and the development of an R&D center at the Saigon Hi-Tech Park. This project underscores the city’s commitment to nurturing a vibrant ecosystem of technology and manufacturing, equipped to meet the demands of a rapidly evolving global market.

Receiving the investment certificate, Darren Webb, CEO of Evolution Data Centers, expressed confidence in the Evolution DC project’s potential to not only enhance data infrastructure but also lay the foundation for Ho Chi Minh City’s digital growth. Similarly, Mr. Phuong Le Tri, CEO of Tam Anh Research Institute under Tam Anh General Hospital, emphasized the broader impact of the High-Tech Center project, highlighting its role in building a modern biotech and biomedical ecosystem in the city.

Chairman Nguyen Van Duoc underscored the city’s commitment to supporting investors and ensuring the rapid implementation of these projects. He noted that the latest investment results reflect the effectiveness of new investment reform mechanisms and align with the city’s strategy to restructure its growth model. The city’s leaders view these investments as a strong foundation for accelerating economic restructuring, targeting double-digit growth, and reinforcing Ho Chi Minh City’s role as a leading regional hub for high technology and innovation.

Saigon Hi-Tech Park, where these projects are based, currently hosts 166 valid projects with a total registered capital of about $13.4 billion, generating jobs for more than 53,600 high-quality workers. The park’s cumulative production value has exceeded $203 billion, including approximately $185 billion in exports. This not only demonstrates the park’s success but also highlights the significant contribution it makes to the city’s economy and its potential for future growth.