The Ho Chi Minh City People's Committee has just issued a Plan to organize the Launching Ceremony of the Vietnam International Financial Centre (VIFC) in the City.
The launching ceremony of VIFC is expected to take place on February 11 at the Vietnam International Financial Center Building, No. 8 Nguyen Hue, Saigon Ward.
The event was attended by leaders of the Government, ministries and central agencies; representatives of localities, diplomatic missions, along with a large number of businesses, corporations, investment funds, banks, experts, scientists and international delegates.
The launch ceremony was organized to affirm the position and long-term vision of the Vietnam International Finance Center in Ho Chi Minh City; and at the same time introduce VIFC's administrative institutions built according to global standards, ensuring transparency, safety and efficiency in dispute resolution. Through this, the City expects to build trust for the investor community and international financial institutions.
In addition, the event is also an opportunity to promote outstanding financial initiatives, promote cross-border capital flows, contributing to realizing the goal of making VIFC a dynamic growth pole in the regional financial network.
Through seminars and networking forums, VIFC is positioned as an "smart, safe and attractive" investment destination, spreading a message about institutional commitments and infrastructure readiness of Ho Chi Minh City.
Vietnam International Finance Center in Ho Chi Minh City has a scale of about 898 hectares, including a part of Ben Thanh ward, Saigon ward and Thu Thiem New Urban Area.
The Center will focus on developing 4 pillar product groups, including: international capital market; financial services serving international trade; digital banking and fintech; and new financial products and services aimed at niche markets.
Mr. Pham Tuan Anh - Head of Technology Department, Vietnam International Finance Center in Ho Chi Minh City, said that VIFC will prioritize investing in modern technology infrastructure to create a "financial transshipment station" for investors. Not only is it a destination for capital flows into Vietnam, VIFC also aims to play a transshipment role for global capital flows.
For investment capital flows into Vietnam, VIFC is expected to become a buffer zone for FDI, especially indirect investment capital (FII) - an area that previously lacked favorable mechanisms. With the expected investment infrastructure, the center will effectively support capital inflows and outflows, while still ensuring national monetary security.
On February 9, G42 Group of the United Arab Emirates (UAE) and a consortium of domestic investors signed a long-term framework cooperation agreement to develop a large-scale data center infrastructure in Vietnam, with a total expected investment value of up to 2 billion USD.
These agreements affirm the strong commitment of strategic investors to accompany Ho Chi Minh City in developing digital technology infrastructure to international standards, creating an important foundation to attract financial institutions, fintech businesses and global technology corporations.
