Vietnam Aims for International Financial Centre with Enhanced Bloomberg Ties

Vietnam is aiming to establish an International Financial Centre (IFC) in Ho Chi Minh City, envisioning a comprehensive financial ecosystem encompassing internationalized sectors such as green finance, carbon credits, fintech, blockchain technology, digital assets, and digital banking. This initiative, symbolized by the emerging landmark Saigon Marina IFC along the Saigon River, is intended to serve not only as a premium commercial complex but also as a central platform supporting financial institutions, international investors, and cross-border capital flows. To compete with other financial centres in the region, Vietnam recognizes the need for consistent institutions, stronger governance standards, transparency, and the continuous development of competitive financial products, in addition to initial capital commitments. The government plans to complete a specialized legal and institutional framework, along with governance, management, and supervision mechanisms for the IFC, in line with international standards during the 2026-2030 period. This move aligns with Vietnam's growing position as a fast-growing manufacturing and logistics hub in Asia, with increasing demand for technology-driven supply chain solutions. The country also benefits from a consumer market of 100 million people, rising incomes, and growing demand for processed and health-oriented food products. Furthermore, Vietnam ranks fifth globally in wood and wood product exports, aiming for sustainable development and higher added value in this sector. Infrastructure development is also progressing to support economic growth. The DHL North Logistics Campus, with direct access to the Ha Noi-Hai Phong Expressway, links Noi Bai International Airport and Hai Phong Port, Vietnam's largest deep-sea port in the north. Dien Bien province is also working to make services its principal growth driver and establish itself as a cross-border trade and logistics hub. Vietnam is leveraging its geo-economic advantages, extensive network of free trade agreements (FTAs), and improving investment climate to attract new investment, expand manufacturing, and boost exports. The country's pool of software engineers and competitive labor costs have made it a magnet for IT outsourcing. The government aims to develop at least 10 large strategic technology enterprises by 2030, each generating annual revenue of at least 1 billion USD. Vietnam will continue working with the US in a constructive and cooperative spirit, while urging the US to fully consider the measures Vietnam has adopted when adjusting tariffs on Vietnamese goods. This reflects Vietnam's approach to balancing economic development under its one-party system with its international relations. Copyright, VietnamPlus, Vietnam News Agency (VNA) Editor-in-chief, Mr. Tran Tien Duan.