Viet Nam’s International Financial Center in Ho Chi Minh City: A Hub for Attracting International Capital

On December 21, the Government announced the establishment of the International Financial Center (IFC) in Viet Nam under the model of “One Center – Two Destinations,” operating concurrently in Ho Chi Minh City and Da Nang. To gain insight into the initial phase of operations of the Viet Nam International Financial Center in Ho Chi Minh City (VIFC-HCMC), a reporter from Sai Gon Giai Phong Newspaper spoke with Assoc. Prof. Dr. Nguyen Huu Huan, Vice Chairman of the Executive Agency of VIFC-HCMC.

Assoc. Prof. Dr. Nguyen Huu Huan, Vice Chairman of the Executive Agency of VIFC-HCMC

REPORTER: In the initial stage of establishment, what will be the key activities implemented at VIFC-HCMC?

ASSOC. PROF. DR. NGUYEN HUU HUAN:
We are currently focusing on several key task groups, including developing the operating regulations and promptly submitting them to ministries and relevant agencies for feedback and issuance. At the same time, we are accelerating the completion of infrastructure to support the operations of VIFC-HCMC. In the first phase, this includes finalizing facilities at 123 Truong Dinh Street, Xuan Hoa Ward. The building at No. 8 Nguyen Hue Street is also being completed and is expected to officially open in February 2026.

Another critically important task being expedited is the completion of the organizational structure and staffing of the center. We are working with leading experts who have experience operating major financial centers around the world to assume key positions such as Chief Executive Officer and Deputy Chief Executive Officers of VIFC-HCMC. Human resource training to support the center’s operations is also being emphasized.

Although the operating regulations have not yet been officially issued and the membership registration portal has not been opened, we remain proactive in investment promotion and in connecting with investors, organizations, and financial institutions worldwide to promote the International Financial Center in Viet Nam in general, and VIFC-HCMC in particular.

Viet Nam’s International Financial Center in Ho Chi Minh City as seen from Bach Dang Wharf. Photo: Hoang Hung

How many investors are currently ready to register as members of VIFC-HCMC, and which sectors are they interested in?

According to preliminary statistics, the number of investors interested in and planning to register as members is relatively large. Considering only major domestic and international investors and financial institutions, there are approximately 50 entities. On December 21, several domestic and foreign enterprises and groups were granted letters of approval expressing interest in becoming members during the initial phase of VIFC-HCMC.

We are developing a one-stop membership registration mechanism, under which investors and financial institutions will need only 5–7 days to become official members of the center—significantly shorter than existing administrative procedures.

Investors are particularly interested in financial institutions such as banks, insurance companies, securities firms, and investment funds, as well as market-related sectors including stock exchanges, digital asset exchanges, commodity exchanges, and green finance platforms (such as carbon credit exchanges and green bond markets).

Another area attracting strong interest from many corporations is infrastructure investment for the center, including both hardware and software. Regarding hardware infrastructure, many major real estate groups are interested in developing and completing the 9.2-hectare core zone of VIFC-HCMC in the Thu Thiem New Urban Area, comprising nine buildings, including the central building.

Software infrastructure investment has also attracted interest from Viettel, FPT, CMC, and others. Many companies operating in the on-chain sector (providing platforms, products, and services based on blockchain technology – reporter’s note) wish to build blockchain-related infrastructure within the center.

Many real estate groups are interested in developing and completing the core zone of VIFC-HCMC in the Thu Thiem New Urban Area. Photo: Hoang Hung

What makes many international investors and financial institutions willing to participate in Viet Nam’s International Financial Center?

Investors and financial institutions come where they see benefits. Viet Nam currently offers not only open and competitive policies compared with other international financial centers in the region, but also, in the long term, VIFC-HCMC is positioning itself to develop a fintech ecosystem—a new direction that not all traditional financial centers pursue.

In addition to Resolution No. 222 on the International Financial Center in Viet Nam issued by the National Assembly, Viet Nam has promulgated eight decrees to implement the resolution, providing very clear and attractive incentives for investors participating in activities at the International Financial Center.

The establishment of the International Financial Center in Viet Nam carries high expectations of becoming a gateway for attracting international capital inflows, contributing to national development in a new era. Viet Nam has set a goal of achieving double-digit economic growth continuously over the next 20 years, and to realize this, domestic capital alone will not be sufficient—substantial international capital is essential. The International Financial Center in Viet Nam is one of the solutions contributing to the achievement of this goal.

The Global On-chain Economic Alliance (GOE Alliance)—launched at the Autumn Economic Forum 2025—has affirmed its commitment to becoming a potential member of VIFC-HCMC and to continuing close cooperation with the center by contributing knowledge, resources, international experience, and partner networks to promote innovative, transparent, and sustainable economic models. The alliance was established with the mission of becoming an “open economic laboratory,” bringing together technology enterprises, financial institutions, policy experts, and international partners.

Conducted by Thanh Dung, Sai Gon Giai Phong Newspaper