Why a resurgence is expected in Ho Chi Minh City’s data centre market

The city is set to recover from its current flat trajectory in the medium to long term.

In a report, Cushman and Wakefield noted that the data centre development activity in Ho Chi Minh City remained relatively subdued over the past six months, with most key market indicators showing minimal or no movement.

“Despite the overall flat trajectory, several notable announcements signal a potential resurgence in the medium to long-term,” the report said.

Here’s more from Cushman and Wakefield:

Among domestic players, Viettel has commenced development of a large-scale data centre campus at Tân Phú Trung Industrial Park. Once fully operational, the facility is expected to support approximately 10,000 racks and deliver over 140MW of IT load capacity, positioning it as one of the largest in the country. Similarly, CMC Corporation revealed plans to construct a 120MW data centre at the Saigon Hi-Tech Park (SHTP). The project’s first phase will deliver around 30MW of capacity, backed by an estimated investment of US$ 250million.

On the international front, UAE-based data centre group G42 has expressed its intention to enter the Vietnamese market through a strategic partnership with local firms. The proposed investment involves the development of a US$ 2billion hyperscale data centre in Ho Chi Minh City, underscoring growing foreign interest in Vietnam’s digital infrastructure landscape.

Complementing these developments, Vietnam’s new Data Law, effective 1 July 2025, introduces a comprehensive national data governance framework. The law classifies data into “core” and “important” categories, imposes strict controls on cross-border data transfers, and mandates licensing and escrow requirements for data-related businesses. 

Overseen by the Ministry of Public Security, the law treats data as a national security asset and imposes civil and criminal liabilities for non-compliance. This regulatory shift is expected to significantly influence both domestic and foreign investment strategies in Vietnam’s digital economy, reinforcing the importance of data sovereignty and cybersecurity in future infrastructure planning.