The President of Vietnam meets with the CEO of Warburg Pincus and Chairman of the US-ASEAN Business Council. Photo: TTXVN
On the afternoon of September 22nd (local time), during the 80th United Nations General Assembly’s high-level general debate in the United States, the President of Vietnam met with Mr. Jeffrey David Perlman, CEO of Warburg Pincus and Chairman of the US-ASEAN Business Council.
During the meeting, Mr. Jeffrey David Perlman noted that Warburg Pincus is currently the largest private investment fund in Vietnam, with over $2 billion in capital. One of the fund’s key focus areas in recent years has been digital infrastructure development.
On behalf of Warburg Pincus, he expressed a strong interest in supporting Vietnam in building advanced data centers, aligning with the country’s strategic development goals.
As Chairman of the US-ASEAN Business Council, Mr. Perlman highlighted his frequent collaboration with Vietnamese partners, which has helped promote Vietnam’s image and role among international businesses.
After hearing Mr. Perlman’s insights, the President encouraged Warburg Pincus to continue contributing to the enhancement of Vietnam-US relations.
The President affirmed Vietnam’s support for Warburg Pincus’s specific proposals related to investment cooperation and urged the fund to engage in detailed discussions with Vietnamese partners to implement these proposals effectively and expand its investment activities in Vietnam.
The Vietnamese government consistently values and supports capable, dedicated enterprises investing in Vietnam, including Warburg Pincus. The President expressed confidence in Warburg Pincus’s role as a strategic investment partner, contributing to Vietnam’s sustainable economic growth.
Vietnam Poised to Replace Singapore as a Global Data Center Hub
Vietnam is currently prioritizing science, technology, innovation, and digital transformation, with AI as a key technology driving economic restructuring and fostering new growth drivers in the new era.
According to the Ministry of Science and Technology, Vietnam currently has 41 commercial data centers operated by 12 companies, with a total design capacity of 221 MW.
In practice, many Vietnamese tech corporations are accelerating plans to build large-scale data centers. For example, Viettel began construction on a 140 MW data center in April, and CMC plans to launch a major project in Ho Chi Minh City by 2026.
Rendering of Viettel’s 140 MW data center in Tan Phu Trung. Photo: VT
Analysts suggest that Vietnam has the potential to emerge as a new global data center hub, replacing Singapore, due to its competitive land prices, labor costs, and abundant supply of clean energy. These factors are critical in the trend toward green digital infrastructure.
Headquartered in New York, Warburg Pincus is one of the world’s largest and oldest private investment funds. With a portfolio of over 1,000 companies across various sectors and total investments exceeding $115 billion, Warburg Pincus is a leading name on Wall Street.
This is not the first time Warburg Pincus has shown interest in Vietnam’s infrastructure and technology sectors. The fund has been present in Vietnam for over a decade, investing more than $2 billion in major Vietnamese companies, creating over 40,000 jobs, and making Vietnam its third-largest investment market in Asia, after China and India.
In Vietnam, Warburg Pincus’s notable projects include Vincom Retail, BW Industrial, Techcombank, MoMo, and most recently, The Grand Ho Tram and Xuyên Á Hospital. These projects demonstrate the fund’s long-term commitment to developing infrastructure, finance, commerce, and healthcare in Vietnam.
Among these, The Grand Ho Tram project in Ba Ria-Vung Tau is a comprehensive service, tourism, and entertainment complex with a total investment of $4.23 billion. The project has disbursed approximately $1.5 billion, created over 2,000 jobs, and contributed more than 2.2 trillion VND to the budget over the past five years. It is expected to disburse an additional $600 million by the end of 2025, bringing the total investment to around $2 billion.
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