The Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC) aims to complete its first transactions as early as November 2026.
Achieving this target will require not only attracting members and securing capital commitments, but also finalising the necessary legal framework, identifying viable transactions and clearly assigning responsibility for resolving outstanding issues.
The direction was outlined by Deputy Prime Minister Nguyen Van Thang, Chairman of the Executive Council of the Vietnam International Financial Centre, during a meeting with 10 VIFC-HCMC members on October 28.
Deputy PM Thang set out three key priorities: making the centre operational in practice and striving to complete its first transactions in November; urgently removing institutional bottlenecks while ensuring regulatory consistency, proper authority and effective risk management; and developing the Vietnam IFC into a modern, internationally competitive financial ecosystem aligned with the country’s economic development needs, supported by a clear long-term vision.
The centre’s executive body was asked to work with each member to identify specific transactions that could be carried out in November. Each transaction must have clearly identified partners, financing arrangements, a transaction structure and a sound legal basis, alongside a clear assessment of obstacles and the responsibilities of relevant agencies.
The push for early transactions must go hand in hand with full compliance with regulations on licensing, financial safety, foreign exchange management, anti-money laundering and investor protection.
Pilot transactions must therefore be lawful, feasible and capable of being replicated, helping build market confidence during the centre’s initial development phase.
The Deputy PM also called for coordinated and complementary development between the two locations of the Vietnam IFC in Ho Chi Minh City and central Da Nang city. Each city should leverage its own strengths while avoiding fragmented resource allocation, with the ultimate goal of building a financial ecosystem connected to regional and global markets.
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