Vietnam's Strategic Move Towards Financial Excellence

In a bold step to bolster its economic growth, Vietnam is setting the stage for the launch of an International Financial Center (IFC) by the end of 2025. This initiative is designed to attract medium and long-term financial resources, laying a solid foundation for the country's socio-economic advancement.

Building a Robust Legal and Infrastructure Framework

The Vietnamese government is committed to completing a legal framework for the IFC, ensuring transparency, systematic coordination, and implementing special policies to draw in capital, technology, and high-quality human resources. Emphasis is also placed on stringent oversight and risk management to safeguard national financial security.

Essential infrastructure and services, including transport, telecommunications, and logistics, are being developed in Ho Chi Minh City and Da Nang to support the IFC's operations. Key projects are expected to be completed by late 2025, ensuring seamless connectivity.

Fostering a Modern Financial Ecosystem

The plan envisions a modern financial ecosystem that promotes emerging markets like commodity and carbon exchanges, and fosters high-tech financial services such as fintech and digital banking. It also aims to cultivate international-standard support services in legal, auditing, and technology sectors.

Ho Chi Minh City is accelerating preparations for the facility, which will span 793 hectares across Saigon, Ben Thanh, and Thu Thiem wards. The city is also rolling out the 5G network to ensure smooth digital transactions and fintech services.

Da Nang, on the other hand, is investing in computing server systems, storage, and monitoring infrastructure at Software Park No. 2, alongside promoting 5G coverage and blockchain networks for digital asset products.

Leadership and Strategic Oversight

Prime Minister Chinh has established a Steering Committee for Vietnam's IFC, with Permanent Deputy Prime Minister Nguyen Hoa Binh at the helm. The committee includes key figures from the government, financial sector, and representatives from Ho Chi Minh City and Da Nang, tasked with directing strategies and ensuring the IFC's smooth operation.