Ho Chi Minh City (HCMC), Vietnam’s economic powerhouse, is accelerating plans to establish a world-class international financial center spanning 783 hectares across both sides of the Saigon River — a transformative project aimed at positioning Vietnam as a leading financial destination in Asia.
The initial phase, covering nine prime hectares in the heart of Thu Thiem, will feature the headquarters of key regulatory and supervisory bodies, laying the groundwork for a robust, transparent, and investor-friendly ecosystem. This first stage, expected to be completed within 2–3 years, will require an estimated VND16 trillion (approx. $630 million)— with VND2 trillion contributed by the government and the remainder open to private and institutional investors.
Related: Here’s how to set-up a foreign invested company in Vietnam
The proposal is currently under government review, with operations slated to begin as early as 2025. By 2030, the full hub will offer a wide spectrum of sophisticated financial services, including banking, capital markets, fund and asset management, and cutting-edge fintech platforms, supported by sandbox mechanisms for innovation and derivatives trading.
In parallel, HCMC is developing a forward-looking human capital strategy to attract global talent. In 2025, five specialized training programs will launch, while city officials continue benchmarking best practices from international financial centers in the U.K., Hong Kong, China, and Kazakhstan.
This ambitious project aligns with Vietnam’s broader vision of a dual-hub model, complementing HCMC’s financial ecosystem with a parallel development in Da Nang, creating new opportunities for international capital, technology, and talent.
Investors seeking early-mover advantage in Asia’s next financial frontier are invited to explore partnership opportunities now.
Related
Discover more from Vietnam Insider
Subscribe to get the latest posts sent to your email.
Source: Vietnam Insider