Ho Chi Minh City has called on businesses from Kazakhstan to invest in its upcoming International Financial Center project, with a special focus on developing digital infrastructure, financial service centers, and innovative startups, the Government News reported.

The call was made at a business roundtable, organized by the Ho Chi Minh City People's Committee in coordination with the Astana International Financial Centre (AIFC) of Kazakhstan on July 15, theming  "Cooperation for the Development of Vietnam's International Financial Center in HCMC".

Mr. Nguyen Loc Ha, Vice Chairman of the HCMC People's Committee, said that the center aims to develop unique products, leverage the city's strengths, and establish itself as a major international financial hub, elevating Vietnam's position in the global financial network.

According to CEO of the Astana International Financial Centre (AIFC), Mr.  Bakhtiyar Tleubayev, AIFC is a leading financial center in Eastern Europe and Central Asia. It has attracted over $16.9 billion in investment, created nearly 10,000 jobs, and hosts over 4,000 companies from 80 countries.

H. E. Kanat Tumysh, Kazakh Ambassador to Vietnam, said one of his key missions is to expand cooperation between Vietnam and the AIFC, which has been formalized through the signing of a Memorandum of Understanding (MoU) between AIFC and the HCMC People's Committee.

Mr. Dinh Khac Huy, Deputy Director of the HCMC Department of Finance, said HCMC is coordinating with national ministries and international partners to build the projected International Financial Center, to be located in Ben Thanh Ward, Saigon Ward, and the Thu Thiem New Urban Area of HCMC.

Key development directions include: a focus on finance, banking, insurance, securities, and fintech; integration of digital infrastructure, green and smart buildings, and integrated urban development; application of a special legal framework and a regulatory sandbox mechanism; and attracting international capital, financial institutions, and multinational corporations.

Mr. Huy emphasized the value of the AIFC's model. "AIFC's success is a valuable lesson for HCMC," he said, particularly highlighting its "flexible and investor-friendly financial and legal mechanisms; independent and transparent governance model; digital infrastructure, international stock exchange, and fintech startup ecosystem; and regional connectivity and cross-border cooperation."

In addition to learning from the model, Mr. Huy said HCMC aims to promote cooperation between financial and technology enterprises from AIFC and the city in fields such as fintech, asset management, securities trading, AI, and financial data.