TOKYO — Vietnamese conglomerate Stavian Group and Japan’s Midas Capital have signed a memorandum of understanding (MoU) to cooperate in developing submarine cable systems and digital infrastructure in Việt Nam, with an expected investment of US$1 billion.

The signing ceremony took place in Tokyo on November 9 in the presence of Party General Secretary and State President Tô Lâm, during his visit to Japan. The agreement also marked the announcement of the MViSTA submarine cable project, which will connect Việt Nam with Malaysia, Singapore and Thailand.

The MoU establishes a long-term cooperation framework covering four areas: developing submarine cable systems connecting Việt Nam with international markets, including Japan; investing in data centres, digital parks and AI computing infrastructure; mobilising international financial resources and partners; and facilitating technology transfer, international operating standards and workforce development.

Under the agreement, Stavian Group will lead project development and investment procedures in Việt Nam, while Midas Capital will help mobilise financing, technology partners and institutional support from Japan and other international markets. Specific projects will be subject to further assessment, due diligence and implementation agreements.

A key initiative under the cooperation framework is MViSTA, an open submarine cable system spanning approximately 2,500km and connecting Việt Nam with Malaysia, Singapore and Thailand. Designed with a capacity of 400 terabits per second (Tbps) across 16 fibre pairs, the system aims to increase international transmission capacity, diversify data routes and support the region's data centre, cloud computing and AI ecosystem.

The project brings together investors from four countries: Stavian Group, Midas Capital, Malaysia's OMS Group and Singapore's LitUp.

Alongside MViSTA, Stavian Group, through its subsidiary Stavian Hightech Infrastructure JSC, is developing plans for Stavian Digital Park (Stavian DP) in HCM City. Covering approximately 300 hectares, the proposed development is intended to serve hyperscale cloud providers, AI data centres, businesses and other organisations requiring digital infrastructure.

The project's feasibility study is funded by the US Trade and Development Agency (USTDA) and led by Cushman & Wakefield, with APTelecom serving as a specialist telecommunications subcontractor.

The two projects are expected to form complementary parts of an integrated digital infrastructure ecosystem, linking international data transmission with data centres and computing facilities.

Stavian Group Chairman Đinh Đức Thắng said digital infrastructure was a fundamental foundation for developing SI, the digital economy and national competitiveness.

Through cooperation with Midas Capital and other international partners, the group aimed to develop submarine cable, data centre and AI infrastructure that meets international standards and can be expanded to meet future demand, he said.

Stavian Group said the initiatives were part of its broader expansion into technology and infrastructure, complementing its four core business areas of industry, technology, energy and trade.

The cooperation also reflects the parties' commitment to contributing to the implementation of Politburo Resolutions 57-NQ/TW on science, technology, innovation and digital transformation, and 68-NQ/TW on private-sector development, while supporting the Việt Nam-Japan Comprehensive Strategic Partnership.— BIZHUB/VNS