Malaysian conglomerate proposes multi-billion dollar high-tech complex in Hanoi

JLand Group has proposed developing a high-tech, innovation, and data center complex in the capital with an estimated investment capital of 4 to 6 billion USD.

On July 5, the Hanoi People’s Committee held a working session with the joint venture between Hung Yen Group (a subsidiary of Kinh Bac) and JLand Group (a member of Johor Corporation, Malaysia).

Representatives of the joint venture proposed researching and developing a high-tech, innovation, and data center complex with a preliminary total investment capital of around 4 to 6 billion USD.

The entity stated that the project’s focus is to build a scientific and technological ecosystem, digital transformation, and modern data infrastructure. The project will prioritize attracting spearhead sectors such as AI data centers, semiconductor microchips, cloud computing, automation, and robotics.

Vice Chairman of the municipal People’s Committee Truong Viet Dung said that the western area is suitable for developing a high-tech complex, benefiting from the Hoa Lac Hi-Tech Park. After being handed over to the city’s management, Hanoi is restructuring this hi-tech park into a technology urban area. Many of Vietnam’s major higher education institutions will also be relocated to Hoa Lac.

Real estate in western Hanoi. Photo: Giang Huy

Mr. Dung said the city is deploying Metro Line 5 to connect the central area with the Hoa Lac Hi-Tech Park and Vietnam National University, Hanoi. In addition, the city is developing a smart urban area of about 600 hectares opposite the hi-tech park to meet the housing needs of experts, scientists, and workers.

He added that Hanoi identifies high-tech projects, data centers, and innovation as special priority groups. The city will apply a green lane mechanism to handle investment procedures.

According to the orientation of the Capital Master Plan with a 100-year vision, Hanoi aims to restructure its growth model towards a multi-polar, multi-center direction, strengthening regional links and international integration. In this, the western region associated with Hoa Lac Hi-Tech Park and Vietnam National University, Hanoi, is identified as a new growth pole for science and technology, the knowledge economy, high-tech industry, and digital infrastructure.