JavaScript is off. Please enable to view full site.

Ho Chi Minh City poised for transformation into international financial hub

Friday, March 26, 2021, 15:03 GMT+7
Ho Chi Minh City poised for transformation into international financial hub
A bird’s-eye view of Ho Chi Minh City. Photo: N.Binh / Tuoi Tre

The Ho Chi Minh City People’s Committee is seeking in-principle approval from the prime minister for its plan to become a world financial hub.

According to the municipal People’s Committee, the plan was created on the basis of Ho Chi Minh City’s various advantages, such as its geographical location, productivity, high-quality workforce, and pre-existing financial market.

By capitalizing on these factors, Ho Chi Minh City will be capable of drawing in international financial institutions and pre-empting a flow of foreign capital into Vietnam, a factor that experts feel will reinvigorate the local economy in the future.

Foreign capital will also be a draw for investors, helping to nurture the emergence of a product ecosystem, business services, and financial support services in the local economy.

As Ho Chi Minh City is considered a spearhead of Vietnam's economy, commerce, and trade, it is poised to become the nation’s financial center, with dynamic activities, increased capacity to trade in more categories of goods, and a more diverse repertoire of financial and support services.

In the medium term, it aims to grow into a regional financial hub with a high concentration of businesses, before becoming a world-class financial center that accommodates a wide range of financial services, world financial business, and leading global economic institutions.

Ho Chi Minh City also sees its vision of becoming an international financial hub a necessary initiative that reflects Vietnam’s outlook as a dynamic, emerging country in the global arena. 

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Tuoi Tre News


Read more




Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Latest news

Table Mountain wildfire threatens University of Cape Town

A wildfire on the slopes of South Africa's Table Mountain forced University of Cape Town students to evacuate on Sunday, as runaway flames set several campus buildings ablaze and firefighters used helicopters to water-bomb the area