G42, FPT, VinaCapital, Viet Thai want to build a $2 billion Super Data Center in Ho Chi Minh City

The above information has just been reported to Prime Minister Pham Minh Chinh by Chairman of Ho Chi Minh City People's Committee Nguyen Van Duoc.

Accordingly, the City People's Committee received an investment proposal for a Hyperscale Data Center project dedicated to developing artificial intelligence and data centers worth about 2 billion USD.

This proposal comes from a group of investors including G42 Technology Joint Stock Company (major shareholders are the state investment fund of the United Arab Emirates (UAE) and Microsoft Corporation of the US), FPT Corporation, VinaCapital Investment Fund, and Viet Thai Investment Group.

Ho Chi Minh City has received an investment proposal for a Super Data Center project dedicated to developing artificial intelligence and data centers worth about 2 billion USD from a group of domestic and international investors. Photo: Le Toan

The project provides comprehensive artificial intelligence solutions and advanced infrastructure for cloud service customers in Asia and around the world , designed to operate as an AI Factory.

This is a project of strategic significance, with a profound impact on the socio-economic development of Ho Chi Minh City, contributing significantly to GDP growth, increasing foreign investment attraction, and creating thousands of high-quality jobs, contributing to the development of information technology human resources in the City.

However, investors are currently facing some legal and mechanism problems.

Therefore, the City proposes that the Prime Minister consider allowing the application of a special mechanism for projects with international business models, similar to the policy being implemented by Singapore.

According to the City People's Committee, the project aims to serve not only Vietnam but also the world, with the goal of developing Ho Chi Minh City into a leading technology business center in Asia.

However, the lack of synchronization between domestic and international legal frameworks, especially some data regulations, can create risks and barriers for international customers of the project, limit expansion due to dependence on the global data system and data monitoring and retrieval processes in Vietnam, and may cause investors to shift their investment to countries that allow cross-border data storage.

The city also proposed to prioritize cloud computing infrastructure instead of on-premise infrastructure. Accordingly, the city proposed that the Prime Minister consider issuing a policy to prioritize the use of cloud computing infrastructure instead of on-premise information technology infrastructure, in order to improve security and synchronize national security standards.

With the above difficulties, the City People's Committee proposed and hoped to have a working session with the Prime Minister and investors to present in detail the difficulties and propose solutions to investors' problems.

The City People's Committee said that since its establishment in 2018 in Abu Dhabi (UAE), G42 has had global operations in artificial intelligence solutions and models, infrastructure and artificial intelligence cloud computing.

For data centers, G42 currently has 24 operating centers with a capacity of 204 MW, is a preferred partner of Microsoft and aims to expand to 500 MW of data center capacity in 6 countries by 2029.

G42 plans to deploy artificial intelligence in Vietnam including: Cloud Dividend model to quantify revenue growth and job creation at the national level for each specific geographic area; Improve skills and access to jobs; Improve public services and Improve the quality of life for people.

Source: https://baodautu.vn/g42-fpt-vinacapital-viet-thai-muon-lam-sieu-trung-tam-du-lieu-2-ty-usd-tai-tphcm-d327701.html