Ready for the International Financial Center

The establishment of international financial centers in Ho Chi Minh City and Da Nang is a strategic step, elevating Vietnam's position on the global financial map.

Báo Sài Gòn Giải phóng•21/12/2025

Today (December 21st), the Government is expected to announce the decision to establish the International Finance Corporation (IFC) in Ho Chi Minh City and Da Nang . The establishment of the IFC in Ho Chi Minh City is not only an objective requirement of development but also a strategic aspiration aimed at elevating the position of Vietnam in general, and Ho Chi Minh City and Da Nang in particular, on the global financial map.

The "shape" is now clear.

The IFC in Ho Chi Minh City is defined as having an area of approximately 900 hectares, located in Saigon Ward, Ben Thanh Ward, and An Khanh Ward (the area on the other side of the Saigon River, the Thu Thiem new urban area). This area can be visualized as a "circle" encompassing the entire Saigon River.

According to Mr. Bui Hoa An, Deputy Director of the Department of Construction, this geographical location and planning are of particular importance because businesses, financial institutions, buildings, and financial establishments operating within this geographical area will benefit from preferential policies. Specifically, units operating within IFC will receive preferential treatment regarding taxes, electricity, water, and other factors directly related to their daily production and business activities. Throughout the entire area, telecommunications infrastructure will be synchronously deployed and fully covered to ensure smooth operation. The technical infrastructure planning in this area is calculated to suit the specific operational characteristics of a large-scale financial center. "Initially, the coordination unit will be located on the 6th floor - 123 Truong Dinh Street, which is the Ho Chi Minh City Innovation and Entrepreneurship Center, officially operational from December 21st," Mr. Bui Hoa An added.

Mr. Quach Ngoc Tuan, Deputy Director of the Department of Finance, said that the roadmap for establishing an IFC in Ho Chi Minh City is divided into three phases. Phases 1 and 2 will utilize existing infrastructure in the existing central core area. In phase 3, the city will focus resources on creating a large-scale, modern financial center in the Thu Thiem new urban area.

"Through this center, the city hopes to strongly attract leading financial institutions, investment funds, businesses, and fintech companies. This will also be a space for breakthroughs in institutions, mechanisms, policies, and the investment and business environment, promoting innovation and spreading development momentum throughout the Southern key economic region," said Mr. Quach Ngoc Tuan.

Many large corporations want to invest.

After IFC officially begins operations, what immediate steps need to be taken to attract domestic and international investors?

Speaking at the seminar "Attracting Investment Capital for Ho Chi Minh City to Successfully Build an International Financial Center," organized by Tien Phong Newspaper on December 20th, Mr. Huynh Anh Tuan, General Director of VikkiBankS Securities Company, suggested that a system of preferential mechanisms and policies should be immediately implemented to encourage companies to participate in the center and invest in domestic enterprises listed on the stock market. "When the IFC is established, many large enterprises can completely raise several billion USD in the capital market, without having to raise capital abroad," Mr. Huynh Anh Tuan said.

Currently, nearly 30 businesses, including several foreign corporations, have registered to participate and plan to invest in IFC. Mr. Peng Yang, CEO of Ant International (Singapore), a financial technology group, pledged to support Ho Chi Minh City in the construction and development of the center. The group is considering relocating a research and development center for digital payments to Ho Chi Minh City, while also expanding its support services for small and medium-sized enterprises (SMEs).

According to Chanida Klyphun, General Manager of TikTok Southeast Asia, TikTok is considering transferring three services from an off-shore to an on-shore provider at the IFC. The company plans to apply for permission to establish three companies at the IFC to implement these operations.

Mr. Vugar Usi, Chief Operating Officer of MEXC Global, believes that to build a safe and transparent market within the IFC, Vietnam needs synchronized connections between regulatory agencies, industry businesses, and training organizations. Specifically, a sustainable digital asset ecosystem must be based on three fundamental pillars: clear regulations and enforcement mechanisms to protect users; a robust industrial infrastructure with large-scale security, custody, operational transparency, and risk management solutions; and educating users at all levels on risk management and safe practices.

"If we continue to implement these three pillars in a coordinated manner and maintain open dialogue with stakeholders, Vietnam can absolutely build a reliable digital asset ecosystem that attracts both creators and responsible global capital flows," Mr. Vugar emphasized.

Source: https://ttbc-hcm.gov.vn/san-sang-cho-trung-tam-tai-chinh-quoc-te-1020259.html