Photo: VNA

On September 22, State President Luong Cuong received Jeffrey David Perlman, CEO of Warburg Pincus and chairman of the US-ASEAN Business Council, in New York. The meeting was part of President Cuong's working trip to participate in the high-level General Debate of the 80th Session of the United Nations General Assembly (UNGA 80) and engage in bilateral activities from September 21-24.

Headquartered in New York, Warburg Pincus is not only a leading Wall Street company but also a top global growth investor. Warburg Pincus has invested more than $115 billion in 1,000 companies across its private equity, real estate, and capital solutions strategies.

Perlman shared, “Warburg Pincus is currently the largest private investment fund in Vietnam, having invested more than $2 billion in the country. The development of digital infrastructure has become one of the fund's main priorities. We hope to support Vietnam to develop a high-tech data centre, in line with the country's strategic development orientation.”

Vietnam is aiming its development strategy towards science, technology, innovation and digital transformation, with AI being the core technology. The strategy serves as the main driver for restructuring the economy and renewing growth engines in the new era. According to a May report from the Ministry of Science and Technology, Vietnam is home to 41 commercial data centres nationally operated by 12 enterprises, with a combined design capacity of 221 MW.

Domestic tech firms focus on developing hyperscale data centres. For instance, Viettel broke ground on a 140 MW data centre in April, while CMC plans to build its first hyperscale facility in Ho Chi Minh City by 2026. Experts believe Vietnam could potentially replace Singapore as a global hub for hyperscale data centres, thanks to its lower land and labour costs, along with abundant clean energy reserves in the region – aligning with the trend towards greener data centres.

State President Cuong said he highly appreciates the partnership and sustainable investment of Warburg Pincus. This reflects the fund's long-term commitment to developing Vietnam's infrastructure, finance, trade, and healthcare sectors.

"The government always values ​​and creates favourable conditions for capable and dedicated enterprises to invest in Vietnam, including Warburg Pincus. Hopefully, the fund will continue to serve as a strategic investment partner and contribute to the sustainable development of Vietnam's economy," the president added.