Construction of HMC City International Financial Center to start in September
The $7 billion center is expected to serve as a hub for banking, asset management, capital markets, fintech, and derivatives trading.
Da Nang sets up Advisory Council for International Financial Center
The center is envisioned as a regional hub for innovation, green finance, and sustainable investment in the Asia-Pacific.
Central bank proposes reporting rule for e-transfer at future International Financial Center
All electronic money transfers valued at $1,000 or more at the center must be reported for anti-money laundering purposes.
$3.8 mln asset threshold set for domestic banks in International Financial Center
To establish a commercial bank in the IFC, a wholly domestically-owned bank must have minimum total assets of VND100 trillion ($3.8 billion); a wholly foreign-owned bank must have at least VND10 billion (over $380,000) in assets, while a foreign bank branch's parent must possess minimum total assets of VND20 billion (nearly $760,500).
PM invites Japan’s MUFG to join Vietnam’s International Financial Centre development
MUFG is one of Japan’s three largest banking institutions.
First meeting of the Steering Committee on the Regional and International Financial Centers in Vietnam held
PM Pham Minh Chinh stressed the importance of fostering public-private partnerships, mobilizing resources from businesses and the public, and building an advanced financial center.
Da Nang prepares land for tech companies
The city not only preparing the land but also offering significant tax incentives to attract investors.
PM leads steering committee on formulating regional, international financial center project
Organizational structure of the steering committee formed under a Prime Ministerial Decision signed on September 15.
Issues facing HCMC becoming an international financial center
Vietnam will not see strong financial liberalization before 2030. This is a problem in need of resolution if Ho Chi Minh City is to become an international financial center, as planned. The city also needs to improve its competitiveness. According to an evaluation, its competitiveness remains at the average level, equal to regional cities such as Manila and Jakarta.