Ho Chi Minh City invites Kazakhstan businesses to invest in financial center

(Chinhphu.vn) - Ho Chi Minh City invites Kazakhstani businesses to invest in the International Financial Center project located in Thu Thiem, especially in the fields of digital infrastructure development, financial service centers and creative startups.

Vice Chairman of the Ho Chi Minh City People's Committee Nguyen Loc Ha said that Ho Chi Minh City is currently entering the acceleration phase of building an international financial center according to Resolution No. 222/2025/QH15 of the National Assembly - Photo: VGP/Le Anh

On the afternoon of July 15, the People's Committee of Ho Chi Minh City coordinated with the Astana International Financial Center, Kazakhstan (AIFC) to organize a roundtable program for businesses of Ho Chi Minh City, Vietnam and Astana, Kazakhstan with the theme "Cooperation to develop the Vietnam International Financial Center in Ho Chi Minh City".

Attending the event were Mr. Nguyen Loc Ha, Vice Chairman of Ho Chi Minh City People's Committee; Mr. Renat Bekturov, Governor of Astana International Financial Center, Kazakhstan (AIFC); Mr. Kanat Tumysh, Ambassador Extraordinary and Plenipotentiary of Kazakhstan to Vietnam; along with experts, scientists and business communities of the two countries.

Ho Chi Minh City is "speeding up" the construction of a Financial Center.

In his opening speech, Vice Chairman of the Ho Chi Minh City People's Committee Nguyen Loc Ha emphasized that the event is a clear demonstration of the friendship and cooperation that is constantly expanding between Ho Chi Minh City and AIFC in particular and Kazakhstan in general, especially in the financial sector. Through this, the parties exchanged and connected their visions, aiming to deepen cooperation and achieve practical results.

Vice Chairman of the Ho Chi Minh City People's Committee Nguyen Loc Ha said that Ho Chi Minh City is currently entering the acceleration phase of building an international financial center according to Resolution No. 222/2025/QH15 of the National Assembly (officially effective on September 1, 2025). The Vietnam International Financial Center located in Ho Chi Minh City has a separate product development orientation, promoting the strengths of the City and aiming to become one of the international financial centers, raising the position of Vietnam in the global financial network.

At the conference, Mr. Bakhtiyar Tleubayev, CEO of the Astana Financial Center (AIFC), gave an overview of AIFC - a leading financial center in Eastern Europe and Central Asia, attracting more than 16.9 billion USD in investment capital, creating nearly 10,000 jobs and being home to more than 4,000 companies from 80 countries.

Mr. Kanat Tumysh, Ambassador Extraordinary and Plenipotentiary of Kazakhstan to Vietnam, affirmed that this Roundtable event will create more momentum for the development of relations between the two countries.

According to the Ambassador, the two governments are focusing on implementing agreements set forth by senior leaders. One of the key tasks is to expand cooperation with the Astana International Financial Center (AIFC), which was concretized through the signing of a Memorandum of Understanding between AIFC and the Ho Chi Minh City People's Committee. Mr. Kanat Tumysh pledged that the Embassy of Kazakhstan will provide maximum support for joint initiatives between AIFC and Vietnamese partners, and believes that the joint efforts will yield great success.

AIFC representative introduces an overview of AIFC - the leading financial center in Eastern Europe and Central Asia, attracting more than 16.9 billion USD in investment capital - Photo: VGP/Le Anh

Calling on Kazakhstan enterprises to invest in the TTTC project in Ho Chi Minh City

Mr. Dinh Khac Huy, Deputy Director of the Ho Chi Minh City Department of Finance, said that Ho Chi Minh City is coordinating with ministries, branches and international partners to build an international financial center model located in Ben Thanh ward, Saigon ward and Thu Thiem New Urban Area, with the main directions: Focusing on finance - banking, insurance, securities, fintech; combining digital infrastructure, green - smart buildings, integrated urban areas; applying a specific legal framework and testing mechanism (sandbox); attracting international capital, financial institutions and multinational corporations.

Deputy Director of the Ho Chi Minh City Department of Finance Dinh Khac Huy emphasized: We highly appreciate the development model of AIFC - a modern, internationally integrated financial center, operating on an advanced technology and legal platform, which has been attracting many large global financial institutions. The success of AIFC is a valuable lesson for Ho Chi Minh City, especially in terms of: Flexible, investor-friendly financial and legal mechanisms; independent and transparent governance model; digital infrastructure, international stock exchange, fintech startup ecosystem; regional connectivity and cross-border cooperation.

A representative of the Ho Chi Minh City Department of Finance said that in addition to learning from the model, Ho Chi Minh City wants to promote cooperation between AIFC and Ho Chi Minh City's financial and technology enterprises in the fields of fintech, asset management, securities trading, AI and financial data. At the same time, Ho Chi Minh City invites Kazakhstani enterprises to invest in the financial center project in Thu Thiem (Ho Chi Minh City), especially in the fields of digital infrastructure development, financial service centers and creative startups.

Sharing more about the International Financial Center located in Ho Chi Minh City, Mr. Nguyen Hong Van, Deputy General Director of Ho Chi Minh City State Financial Investment Company (HFIC), said that in order to create a superior competitive investment environment, Resolution 222/2025/QH15 provides a series of specific preferential policies on foreign exchange and banking policies. For the financial technology sector, a sandbox mechanism will be established, allowing businesses to test controlled new technologies, products and services that are not yet regulated by law, while being exempted from certain administrative procedures and responsibilities. Other preferential policies include extending land use term up to 70 years, allowing foreign experts to buy and own houses, and a "one-stop" mechanism to support flexible immigration procedures and work permits.

Roundtable program of businesses of Ho Chi Minh City, Vietnam and Astana, Kazakhstan to promote cooperation in developing the Vietnam International Financial Center in Ho Chi Minh City - Photo: VGP/Le Anh

Ho Chi Minh City is located in the center of Southeast Asia, conveniently connected to major financial centers in the region and facilitating international trade and capital exchange. The city's transportation system with international seaports and airports plays an important role in ensuring the flow of goods and financial services across borders. Economically, Ho Chi Minh City accounts for about 23% of the country's GDP; acting as the center of many key economic sectors such as finance, technology and services.

At the same time, Ho Chi Minh City is also home to many banks, securities companies, and financial institutions, creating a solid foundation for the development of an international financial center. The speed of digital transformation in the financial technology sector of the City is among the highest in the region and the world, but transaction costs in the financial system are lower than those of other financial centers in the world.

Le Anh

Source: https://baochinhphu.vn/tphcm-moi-goi-doanh-nghiep-kazakhstan-dau-tu-vao-trung-tam-tai-chinh-102250715175703729.htm