Ho Chi Minh City, the economic powerhouse of the country, is receiving positive signals from new investment flows, both domestic and international. From key infrastructure projects to the upcoming launch of the International Financial Centre this November, these developments are contributing to a strong impetus for the city's growth.
The International Financial Centre is expected to be operational by the end of this year with an initial investment of $7 billion in infrastructure, focusing on banking, fund management, fintech, and commodity derivatives trading. This will be the biggest breakthrough for Ho Chi Minh City's economy. The financial services sector is projected to contribute from 8% to 20% of GRDP, and the digital economy to 35% of GRDP, creating sustainable growth.
Associate Professor Dr. Nguyen Huu Huan - a member of the advisory team for the establishment of the International Finance Center in Ho Chi Minh City, stated: "With technology as the foundation, with AI and blockchain as the basis, and secondly, our operating costs will be considerably cheaper than those of international finance centers in the region. These will be key selling points to attract investment."
Besides foreign direct investment, indirect investment is also expected to increase significantly, given the piloting of specific legal sandboxes and the free flow of international capital.
Mr. Quan Trong Thanh - Director of Analysis at Maybank Investment Bank shared: "FTSE will include Vietnamese stocks in its indices next September. I still believe that with Vietnam's macroeconomic picture in the medium term being very clear and bright, coupled with the story of stocks being officially included in the indices, we will see specific ETF capital flows in."
Besides the financial sector, public investment continues to be a crucial "seed capital" driving the city's growth. From ring roads and metro lines to the Eastern Creative Urban Area, major infrastructure projects are and will continue to strongly stimulate investment and consumption demand.
Mr. Huynh Minh Tuan, founder of FIDT Investment Consulting and Asset Management Joint Stock Company, stated: "We have Can Gio Port, the expanded Long Thanh - Dau Giay expressway, and metro lines that will be BT (Build-Transfer) projects. I think Ho Chi Minh City is currently a growth pole based on the directions that the Government will support in the next 5 years."
Ho Chi Minh City, a megacity, is gradually building an investment-finance-technology ecosystem, not only to attract international capital but also to develop its endogenous capacity and consolidate its position as the leading economic engine of the country in the new era.
Source: https://vtv.vn/trung-tam-tai-chinh-quoc-te-giup-tang-suc-hut-dong-dau-tu-vao-tp-ho-chi-minh-100251111125019951.htm
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