Nguyen Van Duoc, chairman of the Ho Chi Minh City People's Committee, has just reported the proposal to Prime Minister Pham Minh Chinh.

Accordingly, the project provides comprehensive artificial intelligence (AI) solutions and advanced infrastructure for customers making use of cloud services in Asia and around the world, designed to operate as an AI Factory.

This strategic project is expected to have a profound impact on Ho Chi Minh City's socio-economic development, thereby driving GDP growth, attracting greater foreign investment, creating thousands of high-quality jobs, and fostering the development of the southern city's information technology workforce.

However, investors are currently encountering legal challenges. Therefore, the city has proposed that the Prime Minister consider approving a special mechanism for projects with international business models, similar to the approach being implemented in Singapore.

According to the Ho Chi Minh City People's Committee, the project is intended to serve both Vietnamese and international markets, with the aim of positioning the city as a leading technology and business hub in Asia.

However, inconsistencies exist between domestic and international legal frameworks, particularly in data regulations, thereby posing risks and barriers for the project's international clients. These limitations can hinder expansion due to a reliance on the global data ecosystem and challenges in data monitoring and retrieval within Vietnam, potentially prompting investors to relocate their capital to countries that permit cross-border data storage.

The city also recommended prioritising cloud computing infrastructure instead of on-premise infrastructure in order to improve security and synchronise national security standards.

In light of these challenges, the Ho Chi Minh City People's Committee proposed a meeting with the Prime Minister and investors to present the issues in detail and discuss potential solutions aimed at overcoming any obstacles facing the project.

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