Vietnam’s Stavian Group and Japan’s Midas Capital have signed a strategic cooperation agreement covering an expected investment of USD1 billion to develop submarine cable systems and digital infrastructure in Vietnam. The memorandum of understanding (MoU) covers four areas: international submarine cable development, investment in data centres and AI infrastructure, mobilisation of international financing and partners, and technology transfer and workforce development. Stavian Group will lead project development and investment procedures in Vietnam, while Midas Capital will support capital mobilisation and partnerships with technology providers and institutional investors.
A key project under the cooperation is MViSTA, an approximately 2,500-mile submarine cable system connecting Vietnam with Malaysia, Singapore and Thailand. The open cable system is designed to provide capacity of 400 Tbps across 16 fibre pairs, supporting international data connectivity and regional data centre, cloud computing and AI infrastructure. The agreement also covers the development of Stavian Digital Park, a 300-hectare digital technology zone in Ho Chi Minh City, through Stavian Hightech Infrastructure JSC. The park is intended to accommodate hyperscale cloud providers, AI data centres and other digital infrastructure businesses. Its feasibility study is funded by the US Trade and Development Agency and led by Cushman & Wakefield, with APTelecom as telecommunications subcontractor.