UOB starts building headquarters at Viet Nam’s international financial center in HCM City
VGP - Singapore-based United Overseas Bank (UOB) on July 1 broke ground on an office tower in Ho Chi Minh City, becoming the first foreign bank to set up a dedicated headquarters in the city’s Viet Nam International Financial Center.
Singapore-based United Overseas Bank (UOB) breaks ground on an office tower in Ho Chi Minh City, July 1, 2026 - Photo: VNA
Addressing the ceremony, UOB deputy chairman and CEO Wee Ee Cheong expressed hope that the project, with a total investment of about US$450 million, could begin operations within two years – ahead of its 2030 completion target.
Viet Nam is a key market in UOB's Asean strategy and an important gateway for trade and investment, he noted, adding that new headquarters reflects the bank's confidence in Viet Nam's future and support for Ho Chi Minh City's ambition to become an international financial center.
The 36-storey tower, named UOB Plaza HCMC, will be built to international Grade A standards and is targeting the Building and Construction Authority's Green Mark certification, with climate-responsive design features tailored to Viet Nam's tropical conditions.
Vice Chairman of the Ho Chi Minh City People's Committee Nguyen Cong Vinh said, UOB's investment demonstrates the confidence of international investors in the city's investment environment and development prospects.
He hailed the bank's role in channeling investment capital into Viet Nam over the years, particularly in infrastructure, high technology, green transition, and innovation.
The establishment of the Viet Nam International Financial Centre in Ho Chi Minh City (VIFC-HCMC) is expected to facilitate more effective connections between regional and global capital flows and priority sectors, including infrastructure, logistics, high-tech manufacturing, green transition, innovation, digital finance, maritime finance, aviation finance, and emerging industries.
The presence of international financial institutions such as the UOB is expected to generate positive spillover effects, helping to build a highly connected financial ecosystem and supporting the city's ambition to become a regional financial center, shared the official.
He reaffirmed commitment to further improving the investment environment, enhancing the quality of public services, working closely with businesses, and creating favorable conditions to ensure that projects are implemented on schedule and in full compliance with the law.
With its extensive regional network, he expressed his belief that the bank will support businesses and investors in expanding their cross-border operations while contributing to deeper financial integration and attracting greater investment flows into Viet Nam in the years ahead.
Since 2020, UOB's foreign direct investment advisory unit has supported more than 400 companies in investing in Viet Nam, with total committed capital of about S$9 billion, creating more than 60,000 jobs in the process./.
