Ho Chi Minh City International Financial Center is located in 3 wards: Saigon, Ben Thanh, Thu Thiem

The total area of the Ho Chi Minh City International Financial Center is 793 hectares, including 3 wards: Ben Thanh, Saigon, Thu Thiem and Saigon River, of which the core area is located in Thu Thiem.

On the afternoon of July 15, within the framework of the visit and working session of the Governors of the Astana Financial Center, Kazakhstan in Ho Chi Minh City, the Ho Chi Minh City People's Committee organized a roundtable on Cooperation to develop the Vietnam International Financial Center in Ho Chi Minh City, with the participation of leaders of the Ho Chi Minh City People's Committee and Mr. Renat Bekturov, Governor of the Astana International Financial Center, Kazakhstan (AIFC) along with experts, scientists and business communities of the two countries.

According to Vice Chairman of Ho Chi Minh City People's Committee Nguyen Loc Ha, the event is a clear demonstration of the ever-expanding friendship and cooperation between Ho Chi Minh City and AIFC in particular and Kazakhstan in general, especially in the financial sector.

Vice Chairman of Ho Chi Minh City People's Committee Nguyen Loc Ha.

The foundation for this cooperation was firmly built after General Secretary To Lam 's State visit to Kazakhstan last May. During the visit, the two sides upgraded the Vietnam-Kazakhstan relationship to a Strategic Partnership. Ho Chi Minh City was assigned to promote cooperation with Kazakhstan, including the Astana International Financial Center (AIFC) on building and developing international finance.

At the event, the Ho Chi Minh City Department of Finance officially announced the space of the Ho Chi Minh City International Financial Center. According to Mr. Dinh Khac Huy, Deputy Director of the Department of Finance, the Ho Chi Minh City International Financial Center has a total area of 793 hectares, of which Ben Thanh Ward is 20 hectares, Saigon Ward is 146 hectares, Thu Thiem Ward is 563 hectares and 64 hectares of Saigon River.

The core area of the financial center has an area of 9.2 hectares located in Thu Thiem, including the construction of headquarters for management, supervision and jurisdiction agencies.

Ho Chi Minh City International Financial Center is spread over 3 central wards and the Saigon River with an area of 793 hectares. (Source: Ho Chi Minh City Department of Finance)

The reason why the Ho Chi Minh City Financial Center is spread across many central areas of Ho Chi Minh City, according to Mr. Dinh Khac Huy, Saigon ward and Ben Thanh ward are the existing financial center areas, foreign exchange, fintech, digital transactions, finance, and logistics activities are taking place vigorously.

The additional area in this area includes buildings that are currently housing insurance, financial and banking companies such as Saigon Trade Center, Prudentail Headquarter, Mplaza, Techcombank and Saigon Tower.

The space of the Ho Chi Minh City International Financial Center is announced, also considering the connection options with economic zones in the region. In particular, Thu Thiem is the new economic center of Ho Chi Minh City, approved as an International Financial Zone. The air route (Ho Chi Minh City, Thailand, Japan) has convenient connections, reducing international transaction time.

Road connections include 4 large bridges directly connecting the central area; Long Thanh-Dau Giay Expressway (new National Highway 51). Waterway is very advantageous right on the Saigon River, near Cat Lai port.

Connecting the Ho Chi Minh City International Financial Center with key economic zones of the region is very convenient. (Source: Ho Chi Minh City Department of Finance)

From the Ho Chi Minh City International Financial Center to industrial parks, port clusters, and neighboring airports, it is also very convenient when it is only 20 kilometers from Hiep Phuoc Industrial Park, VSIP; only about 30 kilometers from large industrial clusters (Long Hau, Tan Do - Tay Ninh (old Long An) and only 55-65 kilometers from Can Gio port, Trang Bang Industrial Park, Phuoc Dong (Tay Ninh), Dong Nai Industrial Cluster, Cai Mep Free Trade Zone.

Digital infrastructure is also the most convenient because this is the area with high-speed fiber optic connection in Ho Chi Minh City.

The key development orientation of Ho Chi Minh City International Financial Center is digital finance, including building advanced digital infrastructure and promoting fintech applications.

Developing international financial services with international stock, bond, and foreign exchange trading markets; consulting, auditing, asset management, and international legal services, creating favorable conditions for international financial corporations to set up long-term headquarters.

The specific goal is to attract international investment capital, especially long-term financial capital flows, multinational financial corporations. At the same time, build a comprehensive financial ecosystem: international banking, stock market, fintech, international asset management.

The core area of the Ho Chi Minh City International Financial Center is located in Thu Thiem, opposite Ben Thanh Ward across the Saigon River. (Photo: Luong Y)

Developing high-quality financial human resources that meet international standards through training partnerships with the world's leading financial institutions.

Mr. Huy said that Ho Chi Minh City will plan priority land fund for the Financial Center, including reviewing and restructuring the existing central land use function, to prioritize class A office buildings, bank headquarters, securities companies, and fintech.

Increase the number of floors for projects with financial functions, limit other functions (apartments, tourist accommodation).

The preliminary investment estimate for the Ho Chi Minh City International Financial Center is about VND172,000 billion (equivalent to USD7 billion). In the immediate future, it is necessary to prepare about VND16,000 billion (equivalent to USD658 million) to complete the core infrastructure, including 11 lots in Thu Thiem in the first phase (about 2-3 years), of which the investment cost for building the headquarters of the administrative center is about VND2,000 billion.

According to Ambassador Extraordinary and Plenipotentiary of Kazakhstan to Vietnam, Mr. Kanat Tumysh, the Astana International Financial Center (AIFC) located in the capital of Kazakhstan is the 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.

He emphasized that the two governments are working towards the implementation of agreements, including expanding cooperation with AIFC. To realize these agreements, the two sides signed important agreements, including the Memorandum of Understanding on Cooperation between AIFC and the Ho Chi Minh City People's Committee.

The Embassy of Kazakhstan affirms its comprehensive support for joint initiatives between AIFC and Vietnamese partners.

According to the Ho Chi Minh City Department of Finance, the successful model of AIFC is a lesson for Ho Chi Minh City, especially the flexible financial and legal mechanism; independent and transparent governance; digital infrastructure, international stock exchange, fintech startup ecosystem; regional connectivity and cross-border cooperation.

The Department of Finance wishes to promote cooperation between businesses and sectors with common strengths, such as fintech, asset management, AI and financial data; invite Kazakhstani businesses to invest in the Financial Center in Thu Thiem. At the same time, it is proposed to establish a regular exchange channel between the Ho Chi Minh City Department of Finance and AIFC, to lay the foundation for deeper and more effective coordination.

Ha Linh

Source: https://vtcnews.vn/trung-tam-tai-chinh-quoc-te-tp-hcm-dat-o-3-phuong-sai-gon-ben-thanh-thu-thiem-ar954519.html