Ho Chi Minh City launches Vietnam International Financial Center
Ho Chi Minh City launched the Vietnam International Financial Center in a major push to become a regional hub for capital markets, fintech and strategic investment.
THE HANOI TIMES — Ho Chi Minh City on February 11 launched the Vietnam International Financial Center (VIFC-HCMC), a strategic initiative designed to deepen financial integration, attract global capital and strengthen Vietnam’s standing in regional and international markets.
Prime Minister Pham Minh Chinh described the development of an international financial center as both a practical necessity and a strategic choice.
Prime Minister Pham Minh Chinh and founding members of the International Financial Center in Ho Chi Minh City. Photo: VGP
He said the initiative will channel capital into priority sectors including strategic infrastructure, core industries, logistics and green and digital transformation.
According to the prime minister, the center will introduce modern financial instruments to help Vietnamese enterprises integrate more deeply into global value chains and shift Vietnam’s role from capital recipient to active participant in shaping regional and international financial markets.
To ensure success, Chinh stressed the need for a competitive legal framework and policy mechanisms comparable to leading global financial centers, along with a distinctive development model and efficient governance.
VIFC-HCMC includes several founding and strategic members, such as Nam A Commercial Joint Stock Bank (Nam A Bank), Ho Chi Minh City Finance and Investment State-owned Company, the University of Economics Ho Chi Minh City, the On-chain Economy Alliance, Gemadept and TikTok.
These members form an interconnected ecosystem spanning customers, financial products, workforce training, market structure development, operational standards and international credibility.
Before its official launch, the center operated on a one-month trial basis and reported early milestones.
These include establishing an aviation finance center with $6.1 billion in committed capital, launching a maritime finance center to support trade and logistics, mobilizing $2 billion for smart urban data infrastructure and creating a $1 billion fund for the on-chain economy covering blockchain, asset tokenization and digital finance.
Nguyen Van Duoc, Chairman of the Ho Chi Minh City People’s Committee, said the project is a long-term strategic mission that reinforces the city’s role on the regional and global financial map.
The city sees finance, capital markets and modern financial services as key growth engines to maintain its economic leadership and expand its national impact, he said.
According to Duoc, VIFC-HCMC will operate as an open ecosystem linked closely to the real economy, serving capital needs for infrastructure, industry, logistics, green transition, innovation and smart urban development nationwide.
The long-term goal is to build VIFC-HCMC into a leading regional financial center and a hub for capital flows and specialized financial services, eventually emerging as a new growth pole that enhances Vietnam’s global profile.
At the launch ceremony, the center outlined several strategic pillars. These include an aviation finance center providing leasing, insurance and risk management services for aircraft fleets and regional aviation logistics chains.
The center will also facilitate a maritime finance center linked to international trade and supply chain financing, supported by a commodity exchange and advanced clearing and settlement systems and a fintech and digital banking ecosystem that will serve as a testing ground for innovative financial technology models.
