Saigon Asset Management to invest US$1.5b in Vietnamese data centres

Saigon Asset Management (SAM) revealed plans on Tuesday to launch a data centre campus in southern Vietnam with a targeted investment of up to US$1.5 billion, whilst also launching a US$300 million fund to boost data centre investment in the country.

The SAM DigitalHub is planned as a 50-hectare, 150MW data centre campus that can be rapid scaled to meet growing demand from international operators and hyperscalers. It also targets an initial renewable energy capacity of 50MW.

SAM will collaborate with Vietnam Singapore Industrial Park (VSIP) – a government-to-government (G2G) platform formed by energy and urban solutions provider Sembcorp and industrial and urban real estate developer Becamex – to develop the DigitalHub campus. The first phase is scheduled to be completed sometime im 2027.

“The three key obstacles that have deterred our hyperscaler clients from entering Vietnam have been licensing, land, and power. By partnering with VSIP, we have successfully addressed these challenges, paving the way for the launch of our SAM DigitalHub,” said SAM CEO Louis Nguyen in a statement.

Nguyen told The Edge Malaysia that there is an estimated 200MW of data centre capacity in Vietnam, and the country will need to double that in the coming years to meet demand from foreign companies.

In 2022, the Vietnamese government decreed that foreign tech companies would be required to store user data locally.