VIETNAM SET TO LAUNCH INTERNATIONAL FINANCIAL CENTER IN HCMC ON FEB 11

To create jobs, upgrade infrastructure, and maintain stability, Vietnam has had to transform its economy toward growth

HCMC – HCMC will officially launch the Vietnam International Financial Center (VIFC) tomorrow, February 11, a move aimed at attracting global capital and strengthening the city’s role in regional finance.

The HCMC People’s Committee has issued a plan to organize the launch ceremony, which will take place at the VIFC building at 8 Nguyen Hue Boulevard, Saigon Ward.

The event is expected to draw leaders from the Government, central ministries, and local authorities, along with representatives from diplomatic missions, businesses, investment funds, banks, experts, scientists, and international delegates.

The launch marks a milestone in positioning HCMC as Vietnam’s international financial hub. It also highlights the city’s long-term vision for building a transparent, secure, and efficient financial ecosystem aligned with global standards, particularly in administrative governance and dispute resolution mechanisms.

City authorities said the center aims to strengthen investor confidence and improve Vietnam’s competitiveness in attracting international financial institutions.

The event will also showcase key financial initiatives designed to facilitate cross-border capital flows, supporting the goal of turning VIFC into a new growth pole within the regional financial network.

Through seminars and networking forums, the center will be promoted as a “smart, safe, and attractive” investment destination, underscoring HCMC’s institutional reforms and infrastructure readiness.

VIFC in HCMC will cover around 898 hectares, spanning parts of Ben Thanh Ward, Saigon Ward, and the Thu Thiem New Urban Area.

VIFC will focus on four core product groups: international capital markets; financial services for international trade; digital banking and fintech; and new financial products targeting niche markets.

Pham Tuan Anh, head of the Technology Department at the VIFC operating authority, said the center will prioritize investment in modern digital infrastructure to serve as a financial transit hub for investors.

Beyond attracting capital into Vietnam, VIFC is expected to play a role in channeling global capital flows, he said.

For inbound investment, the center is seen as a buffer zone for foreign investment, particularly indirect investment, an area that has previously lacked supportive mechanisms. With its planned infrastructure, VIFC is expected to improve capital inflows and outflows while maintaining national monetary security.

Earlier, on February 9, UAE-based G42 Group and a consortium of domestic investors signed a long-term framework agreement to develop large-scale data center infrastructure in Vietnam, with total investment estimated at US$2 billion.

The agreement underscores the commitment of strategic investors to supporting HCMC’s development of international-standard digital infrastructure, laying the groundwork for attracting global financial institutions, fintech firms, and technology companies.

Source: The Saigon Times