“Vietnam News” Posted by Henig at KTFA 12-3-2025
KTFA:
Henig: IMO: Looks to me like Vietnam is leapfrogging ahead in tech. How might one pay for that? Because this rapid expansion ain't cheap. (Exchange rate change, anybody?).
Data centre in Việt Nam is tranforming to a data-high era
December 03, 2025 - 08:48
HCM CITY — The data centre market in Việt Nam is in the midst of explosive growth, evolving from a mere technical infrastructure to becoming a coveted high-tech real estate asset that attracts global investors, experts said.
One of the primary catalysts driving this growth is the rise of Generative AI (GenAI), which is fueling data centre demand globally, including in Việt Nam.
Forecasts suggest that approximately 70 per cent of the global data centre processing volume from 2023 to 2030 will be AI-related, encompassing both AI Training and AI Inference.
The Asia-Pacific region is anticipated to capture a substantial market share, accounting for around 45 to 55 GW of global demand by 2028.
The demand for AI necessitates higher rack density and enhanced cooling capabilities compared to traditional data centres, leading to a shift towards large-scale and hyperscale (over 5 MW) colocation data centre models. These models enable businesses to reduce initial investment costs and maintain stable operating expenses, allowing them to focus on their core operations.
According to the CBRE Asia-Pacific Investor Intentions Survey 2025, data centres have risen to the second position on the list of most preferred alternative asset classes for investment in the region.
The Việt Nam data centre market is primarily driven by the boom in Artificial Intelligence (AI) and the national digital transformation process.
Việt Nam’s total operating capacity is projected to increase by 5.6 times from 2030 onwards, from the current capacity of 104 MW.
The country possesses a solid digital foundation, generating stable domestic demand.
Dương Thuỳ Dung, executive director of CBRE Vietnam, said: “Việt Nam currently boasts a construction cost advantage, with prices of only around US$7.0 million/MW, nearly 50 per cent lower than tier 1 markets like Tokyo or Singapore. This significant disparity, combined with the explosive hyperscale demand from AI, is creating compelling investment opportunities in Southeast Asia.
"Crucially, investors must pursue strategic cooperation through joint venture models or mergers and acquisitions to mitigate risks and navigate power supply and project deployment speed hurdles, thereby fully capitalising on the 5.6-fold growth potential of the Vietnamese DC market over the next decade.”
According to CBRE, as of 2024, Việt Nam has about 80 million internet users, equivalent to 79 per cent of the population, with an exceptional mobile connectivity rate. The growth of the digital economy is reflected in the target for E-commerce Gross Merchandise Value (GMV) to reach $35 billion by 2025. The cloud services market is also forecast for strong growth with a CAGR of 21.65 per cent until 2030.
Notably, with the National Data Centre led by the Ministry of Public Security officially commencing operations from August 19, 2025, demand for Cloud infrastructure for state agencies, high-performance computing systems, and the Open Data Portal will increase significantly. This commitment not only creates a large and stable source of demand but also sets stringent standards for safety, cybersecurity, and operational capabilities, benefiting existing domestic DC providers such as Viettel and VNPT.
The biggest competitive advantage lies in its construction cost, creating superior investment opportunities compared to developed markets. However, investors need to proactively manage structural hurdles relating to complex licensing procedures and the risk of power supply shortages.
As of October 2025, the total operating capacity of the Việt Nam data centre market reached 104 MW. This scale is relatively modest at only about one-tenth of leading regional markets like Shanghai or Singapore.
The current Việt Nam market is dominated by five large entities, mainly telecommunications carriers and state-owned enterprises, accounting for up to 97 per cent of total operating capacity. Viettel IDC leads with a 41 per cent market share, followed by VNPT with 24 per cent. The proportion of supply indicates a certain barrier to entry for foreign investors looking to penetrate the market.
Việt Nam holds an absolute cost competitive advantage over developed markets in the Asia-Pacific region, according to CBRE. The cost of building a tier III data centre in HCM City and Hà Nội is nearly 50 per cent lower than in Tier 1 markets like Tokyo and Singapore.
This significant difference in initial capital cost, combined with low land costs, creates attractive investment potential and opportunities for international investors.
The Vietnamese Government has introduced supportive policies for digital infrastructure development, including commitments to deploy at least ten new undersea fibre optic cables by 2030.
Revised Investment Laws and national digital transformation programmes aim to attract more FDI into the digital infrastructure sector. Additionally, a young and skilled population provides a strong foundation for the long-term growth of the digital economy, with a target of 75 per cent of the workforce having specialised training by 2030. — VNS
https://vietnamnews.vn/economy.....h-era.html
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Henig: IMO: Cross-border payments, you say? Interesting. I like the direction this is going.
Việt Nam launches cross-border QR payment connectivity with China
December 02, 2025 - 15:49
Việt Nam and China have launched a bilateral QR payment link, enabling seamless cross-border transactions for travellers and businesses
HÀ NỘI — Việt Nam officially rolled out bilateral QR code payments with China on Tuesday, marking a major step toward integrating the two countries’ retail payment systems and facilitating seamless and safer cross-border transactions.
The service was launched by the National Payment Corporation of Vietnam (NAPAS), UnionPay International (UPI), the Industrial and Commercial Bank of China (ICBC) and Vietcombank.
The announcement follows a Memorandum of Understanding signed in October 2024 during the official visit of Chinese Premier Li Qiang to Việt Nam, witnessed by the two countries’ prime ministers. A subsequent four-party agreement between UPI, NAPAS, ICBC and Vietcombank set the framework for technical connectivity and settlement.
With the technical phase now completed, Chinese visitors can start making payments in Việt Nam by scanning VIETQR Global at participating merchants, including major retailers, shopping centres, tourist sites, restaurants and travel services.
Early adopters include Central Retail Vietnam’s supermarket system, Highland Coffee and payment points across the Sun World tourism ecosystem.
The reverse payment direction – allowing Vietnamese consumers to scan UnionPay QR codes in China using NAPAS-member e-wallets and banking apps – is expected to go live in early 2026, forming a fully two-way QR ecosystem for travel, commerce and daily spending.
Larry Wang, vice president and CEO of UnionPay International, said Việt Nam was a key tourism and economic partner for China. He noted that the cross-border QR project, which leverages local-currency settlement, would support RMB internationalisation and create smoother payment experiences for travellers and businesses.
UnionPay, he added, would continue working with NAPAS to build a safe and efficient regional payment ecosystem and boost long-term financial connectivity across ASEAN.
NAPAS CEO Nguyễn Quang Minh said the rollout was a result of close cooperation among all parties under the guidance of the State Bank of Vietnam.
“The service aims to enhance financial connectivity, expand the use of local currencies in cross-border transactions, and support trade, tourism and broader economic cooperation between the two countries,” Minh said. — BIZHUB/VNS
https://vietnamnews.vn/economy.....china.html
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Henig: IMO: International Financial Center created, CHECK. Now, how are we going to add functionality? Team up with Binance, CHECK. This looks like a fine partnership.
HCM City partners with Binance to advance International Financial Center development
26/11/2025
Prime Minister Pham Minh Chinh, municipal leaders, representatives of ministries, and international investment funds attended and witnessed the signing ceremony, which was held on the sidelines of the Autumn Economic Forum 2025.
The Ho Chi Minh City Department of Finance and Binance on November 26 signed a memorandum of understanding (MOU) on cooperation to accelerate the development of Vietnam’s International Financial Centre in Ho Chi Minh City (VIFC – HCMC).
Prime Minister Pham Minh Chinh, municipal leaders, representatives of ministries, and international investment funds attended and witnessed the signing ceremony, which was held on the sidelines of the Autumn Economic Forum 2025.
Binance, one of the world’s leading blockchain and digital asset ecosystem groups by trading volume, said it remains committed to a sustainable development strategy for the blockchain–digital asset sector and actively contributes to policy consultation in markets where it operates.
HCM City is one of two designated locations for Vietnam’s international financial centre, forming a key platform for the city’s ambition to become a regional hub for finance, industry and innovation. The Department of Finance has been tasked by the municipal People’s Committee with coordinating and implementing policies related to the centre’s establishment.
Under the MOU, both sides agreed to cooperate across four core areas: facilitating and introducing investors, financial institutions and investment funds to operate at the VIFC–HCMC; sharing practical experience in developing legal frameworks for digital assets, blockchain technologies and payment infrastructure using digital assets; and supporting the development of a controlled testing environment (sandbox) for digital asset projects once an adequate legal corridor is in place and authorised by competent agencies.
The two parties will also work together to support the innovation ecosystem, including SMEs and start-ups applying digital technologies, blockchain and financial technology.
The cooperation covers regulatory compliance, international standards, and best practices, as well as consulting on digital asset infrastructure and the application of artificial intelligence and blockchain technologies.
Capacity-building programmes will be organised for regulatory agencies, including training, workshops, and expert exchanges. The MOU further outlines collaboration on connecting international financial organisations and investors, and the potential co-hosting of promotional events in HCM City and relevant jurisdictions.
A joint working group will be established to formulate action plans, monitor progress and address implementation challenges. The group will meet at least twice a year, either in person or online. Once the operation agency of the IFC-HCMC is set up, the MOU will be transferred to the new body for continued implementation.
The signing is viewed as a significant step that opens a new phase of deeper cooperation between HCM City and Binance. The partnership is expected to strengthen regulatory capacity, expand Vietnam’s connectivity with global capital markets, and attract high-quality investment into finance, technology and innovation.
The event also underscores the city’s determination to build a transparent, dynamic and sustainable international financial centre aligned with Vietnam’s strategic goals to 2030.
Earlier, in mid-October 2025, the HCM City Department of Finance signed an MOU with the Nasdaq Stock Market — the world’s largest electronic stock exchange and home to major corporations such as Apple, Microsoft, Google, Amazon, Meta, Tesla, PayPal and Intel. This collaboration marks one of the few strategic agreements between a Vietnamese locality and a leading global financial institution.
According to the municipal People’s Committee, the city is expediting all preparations to put the IFC into operation in this December, in line with Resolution 222/2025/QH15. The city pledges to create a transparent, favourable and competitive environment to attract investors./.
VNA/VNP
https://vietnam.vnanet.vn/engl.....1.html?utm
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Henig: IMO: Creating more ways to trade with the EU means better trade for Vietnam, but also should open up avenues for international trade in general. This is a good development.
Digital platforms to help Vietnamese cooperatives access European market
December 02, 2025 - 22:07
The workshop aimed to raise awareness, offer technical knowledge and create a digital connection platform to support cooperatives in their integration journey.
CÀ MAU — A workshop on promoting trade with the European market and accelerating technology adoption, innovation and digital transformation among Vietnamese cooperatives was jointly held on Tuesday by the Vietnam Cooperative Alliance and the provincial People’s Committee.
Addressing the event, chairwoman of the Vietnam Cooperative Alliance Cao Xuân Thu Vân said the EU–Việt Nam Free Trade Agreement has created historic opportunities for Vietnamese goods to enter one of the world’s strictest markets.
As the collective economic sector supports millions of livelihoods and acts as a key pillar of the economy, equipping cooperatives with the knowledge and skills needed to enhance competitiveness is essential, she noted.
The workshop aimed to raise awareness, offer technical knowledge and create a digital connection platform to support cooperatives in their integration journey. It also sought to promote a systematic shift in how cooperatives approach the European market and expand the application of science, technology and digital transformation.
Experts from Ireland, the Netherlands and Germany, ministry representatives, agencies, Cà Mau authorities and local cooperatives discussed issues including European agricultural and food market trends, export opportunities for Việt Nam, technical standards and food safety rules, the EU’s environmental tax and carbon reduction policies, social responsibility requirements and technical and customs hurdles for agricultural and food imports.
Hoàng Văn Tú, a representative of Sustainable Food Systems Ireland, said cooperative business models have undergone major changes in recent years – from mainly offering services to engaging directly in production, processing and distribution. However, most cooperatives remain small-scale and face capacity and efficiency constraints.
In the current era of deeper global integration, cooperatives need a strong push to pursue “dual transformation” – green transition coupled with digitalisation – to renew themselves and capture new opportunities, he said.
Huỳnh Chí Nguyện, vice chairman of the Cà Mau People’s Committee, said the province now has 609 cooperatives with more than 34,800 members and over 12,200 jobs created. Despite this growth, securing stable export markets, especially in the high-standard EU market, remains a major challenge.
He added that the workshop provided cooperative leaders with in-depth information, practical experience and effective technological and digital solutions that can optimise production, strengthen quality management and enhance competitiveness, supporting the province’s goal of achieving double-digit growth in the coming years. —
VNA/VNS