HCM City ready to launch int’l financial centre on December 19

Ho Chi Minh City has readied necessary infrastructure, personnel, and investors for the operation of its International Financial Centre (IFC), slated to be inaugurated on December 19, Dr. Truong Minh Huy Vu, Director of the Ho Chi Minh City Institute for Development Studies (HIDS), has said.

Chairman of the People's Committee of HCM City Nguyen Van Duoc speaks at the meeting. (Photo: VNA)
Chairman of the People's Committee of HCM City Nguyen Van Duoc speaks at the meeting. (Photo: VNA)

HCM City (VNA) – Ho Chi Minh City has readied necessary infrastructure, personnel, and investors for the operation of its International Financial Centre (IFC), slated to be inaugurated on December 19, Dr. Truong Minh Huy Vu, Director of the Ho Chi Minh City Institute for Development Studies (HIDS), has said.

Vu revealed this at a working session with Deputy Prime Minister Nguyen Hoa Binh in the city on December 9.

Regarding technical infrastructure and data, Vu said the municipal departments are reviewing the entire system, including digital infrastructure and data centres. The southern hub currently has 16 data centres, with some meeting high standards suitable for the IFC’s operations.

The municipal authority has reported that over 50 investors and organisations are interested in the HCM City-based IFC, spanning four sectors - infrastructure, finance, technology, and digital services.

At the Autumn Economic Forum 2025, the municipal authority formally engaged with 20 investors and identified 10 partners ready to join as founding members of the IFC, he said, noting that 10 investors are set to sign on immediately following the centre’s launch.

To ensure effective operation of the centre, the municipal People’s Committee suggested relevant ministries and agencies assign suitable experts and personnel to ensure the supervisory body operates effectively from the outset.

Regarding overall progress, Vice Chairman of the Office of the Government Mai Thi Thu Van, said ministries and agencies are finalising eight decrees guiding the implementation of National Assembly Resolution No. 222 on Vietnam’s IFC, with most content being completed and now under final review.

Van said that with current progress, all documentation is expected to be completed by December 19, paving the way for operational mechanisms, followed by the establishment of the centre’s coordination body and management framework.

Deputy PM Binh requested the Ministry of Finance to soon hold a meeting with representatives from the authorities of HCM City and Da Nang to agree on the operational model for the IFC in the cities, and review regulations to enable immediate implementation in the initial phase.

Regarding infrastructure, he emphasised the need for flexible preparation to avoid a “build-and-wait” approach, ensuring the centre’s operations are not disrupted during the initial phase.

For operational personnel and financial supervision, Binh said the Government notes limited domestic experience in running an IFC, so foreign personnel can take the lead initially, gradually handing over to local staff as they gain expertise. He also underscored strict compliance with regulations to minimise risks during operations and approvals.

The Government aims to issue relevant decrees by December 15, providing a legal framework and foundation for the centre’s operation, he stated./.

VNA

See more

Local residents and visitors tour and shop at a fair. (Photo: VNA)

Made in Vietnam Fair set to open in Hanoi

The Made in Vietnam Fair will showcase a wide range of products, including industrial and consumer goods, processed foods, agricultural produce and handicrafts, with the participation of distribution systems, e-commerce platforms, digital platforms and digital financial solution providers operating in Vietnam.

2025 a good year for Vietnam’s securities sector: SSC

2025 a good year for Vietnam’s securities sector: SSC

During the year, the SSC made significant progress in improving the legal and policy framework. Institutional work was implemented in a coordinated manner, including the issuance of two decrees, one resolution, seven circulars and three major schemes. At the same time, the regulator strengthened policy dialogue and expanded cooperation with international organisations to support the market upgrade process.

Vietnam shows strong FDI performance in the first 11 months of 2025 (Source: vtv.vn)

Vietnam shifting FDI attraction focus from volume to quality

As production relocation to Southeast Asia accelerates and competition for FDI intensifies, Vietnam faces increasing pressure from regional rivals such as India, Malaysia and Indonesia, which are offering bold tax incentives and developing specialised industrial parks. This reality requires Vietnam to shift its focus from attracting large volumes of capital to drawing high-quality investment, prioritising core technologies, innovation, value chain linkages and higher localisation rates.

Vice Chairman of the Ho Chi Minh City People’s Committee Hoang Nguyen Dinh inspects IUU fishing prevention efforts at Hung Thai Port in Long Hai commune. (Photo: VNA)

Ho Chi Minh City steps up oversight of unqualified fishing vessels

HCM City currently has 4,475 fishing vessels, all of which have been registered and updated on the VNFishbase system. Among them, 4,268 vessels, or 95.37%, have been granted fishing licences, while 207 unqualified vessels are being strictly managed and kept ashore.

Airlangga Hartarto (fifth from right), Indonesian Coordinating Minister for Economic Affairs, and CEO of VinFast Asia Pham Sanh Chau (sixth from right) at the plant opening ceremony on December 15. (Photo: VinFast)

VinFast inaugurates EV plant in Indonesia

The VinFast Subang plant was completed and put into operation just 17 months after groundbreaking, demonstrating the company's rapid execution capability and strong implementation capacity. This is VinFast's fourth operational facility worldwide, and its first plant in Indonesia and Southeast Asia outside of Vietnam.

From early December, major retail chains in Ho Chi Minh City have recorded a noticeable increase in shoppers seeking Tet products. (Photo: VNA)

HCM City businesses ramp up production to meet Lunar New Year demand

From early December, major retail chains in the city have recorded a noticeable increase in shoppers seeking Tet products. Many consumers are taking advantage of promotional programmes to purchase gift items with long shelf lives, such as confectionery, soft drinks and processed foods, well ahead of the holiday peak.

Workers process fish to be tinned for export at KTC Canned Food Factory under Kien Giang Trading JSC. (Photo: VNA)

Vietnam to host seminar on export growth strategies

Vietnam's exports rose 16.1% to 430.2 billion USD in the first 11 months of 2025, while total trade hit 839.8 billion USD during the same period. This strong performance shows that exports remain a key driver of economic growth, boosting Vietnam's standing on the world stage in recent years.

The vessel carrying the 2 millionth TEU arrives at Hai Phong Port. (Photo:VNA)

Hai Phong Port reaches 2-million-TEU milestone

Handling the 2 millionth TEU in 2025 not only demonstrates Hai Phong Port’s operational capacity and the collective efforts of its workforce, but also highlights its increasingly important role in regional and global supply chains, the confidence of shipping lines, logistics firms and the business community, and the effectiveness of policies to improve the investment climate and strengthen maritime infrastructure and services.

Melons labelled with traceability codes on display at the Song Van agricultural produce store in Ninh Binh city, Ninh Binh province. (Photo: VNA)

Tracing origins hindered by fragmented data systems

As the Government accelerates the digital economy, establishing a unified national traceability system has become a crucial move to end data fragmentation and disconnection among ministries, sectors and localities.