International financial center and strategic vision

The 55-storey Saigon Marina IFC tower stands out on the Saigon River, Ho Chi Minh City.

With 55 floors, a total floor area of over 106,000 m² and a capacity of over 10,000 professionals working every day, Saigon Marina IFC is not simply a high-rise building, the project also demonstrates modern urban development thinking, integrating public transport, financial space and high-end services, a key factor in attracting international financial institutions, technology and logistics companies.

However, for Saigon Marina IFC to truly become the foundation of an international financial center, many other conditions are needed besides infrastructure. First of all, institutions. Resolution No. 222/2025/QH15 (June 27, 2025) recently passed by the National Assembly has opened up a clear legal corridor, allowing for the testing of many incentive mechanisms: Flexible use of foreign currency, competitive taxes, cross-border capital mobilization, etc. This is an important step to create a comparative advantage in the region.

Saigon Marina IFC, with its integrated model of working and living space, has the potential to become a gathering place for fintech companies, digital banks, technology startups, investment funds, etc. This ecosystem, if developed in the right direction, will be the foundation for the digital economy , while helping the city participate more deeply in the global value chain in areas such as blockchain, artificial intelligence and digital assets. However, the biggest challenge today is human resources. Ho Chi Minh City is seriously lacking experts in key areas such as international finance, risk management, fintech, data analysis, etc. Therefore, the city needs to promote attracting high-quality human resources.

Economic experts say that to attract experts, the city needs to have preferential mechanisms such as: Income tax exemption, housing support, favorable residence policies for overseas Vietnamese and foreign experts. The "one-stop" mechanism for financial services also needs to be implemented soon to reduce administrative procedures, increase efficiency for investors, etc.

In addition to internal strength, expanding international connections is also very important. An international financial center is only truly sustainable when it is part of the global financial network. Ho Chi Minh City needs to proactively cooperate strategically with major financial centers in the world to learn governance and technology models, promote regional connectivity, and expand financial space to form a support service belt.

Ho Chi Minh City is expanding with an economic scale accounting for 24% of the country's GDP, a population of nearly 14 million people, and has enough potential to become an international financial center if it has the right strategy. However, to realize that, the city needs to proactively improve its institutions and invest heavily in digital infrastructure in the financial sector, such as: 24/7 interbank payment system, customer data center, one-stop trading platform, etc. The city needs to build a special financial area in Thu Thiem with international standard office buildings, conference centers, and modern telecommunications networks to attract large bank headquarters and investment funds.

The “financial satellite” model can also be deployed in the central areas of Binh Duong or Ba Ria-Vung Tau in the past, providing financial services for industry and energy, reducing the load on the city center.

In terms of strategic direction, Ho Chi Minh City can choose some key financial service sectors to create its own mark. Or it can propose to establish a free financial zone in Thu Thiem, where international financial transactions are exempted or have strong tax reductions, free money transfers, and streamlined financial customs procedures. This will be a “magnet” to attract global financial institutions.

Saigon Marina IFC is a new symbol of development, but to turn the symbol into a real driving force for the national finance, Ho Chi Minh City needs a long-term, comprehensive and consistent strategy from institutional reform, infrastructure investment, human resource development to expanding global connections. If going in the right direction, the city can completely build a vibrant, creative and sustainable international financial center.

VU NGUYEN

Source: https://nhandan.vn/trung-tam-tai-chinh-quoc-te-va-tam-nhin-chien-luoc-post903913.html