The International Financial Center in Ho Chi Minh City is expected to officially start construction from September, marking an important milestone in the journey to turn the city into an economic and financial locomotive of the region. Currently, the Ho Chi Minh City People's Committee is directing relevant departments and branches to urgently complete preparation items, from building policy mechanisms to infrastructure design, to ensure the project starts on schedule.
According to the development orientation, the financial center is not only a place to converge banking, securities or investment Capital activities, but also expands to asset management services, fund management, as well as strongly develops Derivative financial products. In particular, the city will apply the sandbox mechanism - a flexible testing environment - to encourage innovation in the fields of fintech, artificial intelligence and blockchain technology. This is XEM a key factor to help Ho Chi Minh City compete with leading financial centers in Asia such as Singapore or Hong Kong.
The area planned to develop a financial center includes two prime locations: Saigon – Ben Thanh ward (old District 1) and Thu Thiem urban area. The total planning area is up to 783 hectares, with a total preliminary investment Capital of about 172,000 billion VND (equivalent to nearly 7 billion USD). The project implementation period is expected to last for 5 years, promising to create tens of thousands of high-quality jobs and attract huge investment Capital from both domestic and international sources.
The establishment of this financial center also reflects an inevitable trend in the context of Vietnam's increasingly deep integration into the global economy. In particular, in the context of the administration of President Donald Trump - who returned to the White House from the end of 2024 - promoting US economic policies that prioritize bilateral cooperation and reshape the global supply chain , Ho Chi Minh City's acceleration of the construction of an international financial center can open up a golden opportunity for Vietnam to attract more direct investment Capital from the US.
A story that many experts have mentioned recently is the wave of large investment funds moving. Many global financial corporations are considering expanding their offices in Southeast Asia to take advantage of the potential of emerging markets. Ho Chi Minh City, with its dynamic economic position, young population and open policies on finance and technology, is likely to become a priority destination in the near future.
