International Financial Center makes debut in HCMC

Addressing the opening ceremony, Prime Minister Pham Minh Chinh said that amid profound global economic restructuring, intensifying strategic competition, and the relocation of international capital flows toward new hubs, the establishment of an International Financial Center in Viet Nam is an inevitable requirement and a strategic, breakthrough move.

The IFC will not only serve as a hub for capital flows, but also as the "soft infrastructure" of the economy, playing a pivotal role in resource allocation, providing modern financial instruments, enhancing national competitiveness, and helping Viet Nam gradually transition from the position of a "capital recipient" to that of a "market creator."

To ensure that the ultimate goal—the success of the International Financial Center in Ho Chi Minh City and Da Nang—is achieved, the Prime Minister stressed that the Government and ministries and agencies must “act decisively, take direct responsibility, conduct regular inspection and supervision, and resolve obstacles thoroughly and effectively.

Priority should be given to resources for digital infrastructure and green financial infrastructure; strong investment must be made in financial security, utilizing artificial intelligence (AI) and big data to monitor risks. A strict supervisory mechanism must be established, with quarterly reporting on specific indicators, including capital inflows, the number of participating institutions, and transaction volumes.

Government agencies such as the Ministry of Justice, the Ministry of Finance, and the State Bank of Viet Nam will closely coordinate with the Supreme People’s Court to ensure that the dispute resolution system operates effectively from the outset.

"The Government is committed to creating a stable, transparent, and highly competitive investment environment so that all stakeholders can understand and share with one another, work together, win together, benefit together, and share common joy and happiness," Pham added. 

On this occasion, an advisory group for the Executive Board will be established, including foreign experts.

Transforming IFC into driving force and a pillar of development

To turn the International Financial Centers in Ho Chi Minh City and Da Nang into key drivers making strong and substantive contributions to national development and the growth of both cities, the Government chief tasked Ho Chi Minh City and Da Nang immediately implement a regulatory sandbox mechanism for new financial products; propose breakthrough incentive policies to attract investment from at least 50 international financial institutions within the first three years; and fully digitalize 100 percent of administrative procedures at competitive costs for investors.  

Da Nang must closely coordinate and leverage its advantages to build a complementary center, focusing on maritime finance and logistics; it must also undertake strong administrative reforms to ensure a business environment that is no less attractive than that of Ho Chi Minh City.

Both cities should prioritize investment in high-quality human resource training, particularly by strengthening international cooperation to train financial experts and attract personnel to operate the International Financial Centers. The Party Secretaries and Chairpersons of the two cities are required to take direct responsibility for this task.

The Prime Minister also took the occasion to call on the business community, especially domestic enterprises and overseas Vietnamese, to actively engage and view this as an opportunity for their own development. 

International investors are urged to promptly fulfill their commitments, expand their presence, transfer financial management technologies, and participate more deeply in key pillars such as aviation, maritime, fintech, and others.

He also emphasized that Vietnamese enterprises cannot stand on the sidelines, particularly major corporations and banks, which must compete fairly, take the lead, and spearhead efforts to become founding members. They should utilize the IFC's services to mobilize international capital, issue bonds, manage risks effectively, pioneer green and digital transformation, optimize resources, enhance smart governance, and harmonize interests.

Chairman of the Ho Chi Minh City municipal People's Committee Nguyen Van Duoc affirmed that the center is not only a standalone project, but also a long-term strategic mission of the city, aligned with its aspiration to elevate Ho Chi Minh City's status on the regional and global financial map.

The Southern city has clearly identified that in order to maintain its role as the country's economic locomotive and make increasingly greater contributions to national growth, new development drivers are required, in which finance, capital markets, and modern financial services play a particularly important role.

The center is designed to develop under an open ecosystem model, directly serving the capital needs of infrastructure, industry, logistics, green transition, innovation, and smart urban development in Ho Chi Minh City and across the country.

On January 9, the Viet Nam International Financial Center was inaugurated in the central city of Da Nang, marking the official launch of Viet Nam’s international financial center model in accordance with Government Decree 323/ND-CP dated December 18, 2025./.