Want to be in the loop?
subscribe to
our notification
Business News
VIETNAM SETS SIGHTS ON HO CHI MINH CITY'S TRANSFORMATION INTO A GLOBAL FINANCIAL HUB BY 2030
Vietnam established a steering committee, led by Deputy Prime Minister Le Minh Khai, on October 6 to guide the development of a new international financial hub, underscoring its ambition to elevate its global financial stature.
Vietnam has recently laid the foundations for the conception of a regional and international financial hub, demonstrating its keen intent to upscale its presence in the global financial landscape.
The initiation was marked by the establishment of a steering committee to oversee this monumental endeavour, with Deputy Prime Minister Le Minh Khai spearheading the group.
Formed following a decision on October 6 by Prime Minister Pham Minh Chinh, the committee's primary role will be to advise the government and assist the prime minister with research, coordination efforts, and the resolution of tasks associated with building the envisioned financial centre.
Lending weight to the committee’s prominence is a roster of esteemed officials. Beyond the leadership of DPM Khai, the committee includes Minister of Planning and Investment Nguyen Chi Dung and is bolstered by the involvement of top-tier executives from several ministries, including Finance, Trade and Industry, Defence, Public Security, Information and Communication, Natural Resources and Environment, the State Bank, the Government Office, and also representation from the administrative agencies of Ho Chi Minh City and Danang.
Ho Chi Minh City and Danang have previously delved into foundational research into the inception of such a financial epicentre. As revealed by the Ministry of Planning and Investment in May, there have been joint explorations with these cities on the matter.
However, the proposition of sculpting an international financial hub in Ho Chi Minh City is perceived as a formidable and intricate undertaking.
The blueprint for this endeavour seeks to leverage the myriad of potential and advantages inherent in both Vietnam as a nation and the cities of Ho Chi Minh City and Danang.
Preliminary drafts from Ho Chi Minh City in 2022 shed light on the three-pronged structure for the international financial hub. This encompasses a monetary market coupled with a banking system, a capital market, and another dedicated to derivative commodities.
To realise this grand vision, Ho Chi Minh City has delineated a quartet of specific action programmes. These include the proliferation of Fintech, digital banking, and digital financial transactions, the regional integration of the hub, the promotion of the Thu Thiem Financial and Trade Zone, and the growth of the commodities market.
Furthermore, the prospective financial centre in Ho Chi Minh City has been envisaged to host entertainment quarters and casinos, albeit not as core components but as strategic add-ons to enhance its appeal to global investors.
The city’s blueprint sets forth a phased deployment plan, aiming for the establishment of this international financial hub by 2030.
Source: VIR
Related News
HOSPITALITY / TOURISM / ENTERTAINMENT
HOLIDAY TOURISM BOOMS, REVENUES SURGE ACROSS VIETNAM
The northern province of Thanh Hoa reported 1.72 million visitors, and obtained around VND4.33 trillion in revenue. Coastal tourism dominated, with Sam Son Beach attracting roughly 1.2 million visitors, the highest in the province. Early preparations and transparent pricing policies helped deliver strong results, as the province targets nearly 17 million visitors in 2026.
HOSPITALITY / TOURISM / ENTERTAINMENT
HANOI CITY WANTS NIGHTTIME ECONOMY TO CONTRIBUTE 5% TO GRDP BY 2030
Hanoi City aims for its nighttime economy to contribute around 5% of the city’s gross regional domestic product (GRDP) by 2030 under a new development plan approved by the municipal government. The Hanoi People’s Committee approved the plan for 2026-2030, with a vision to 2045, on May 9. The city expects the nighttime economy to become a new growth driver for its service and tourism sectors.
HOSPITALITY / TOURISM / ENTERTAINMENT
VIETNAM WELCOMES 8.8 MILLION FOREIGN VISITORS IN JAN-APR
International visitors to Vietnam in the first four months of 2026 rose 14.6% over the same period last year to over 8.8 million, with April alone seeing 2.03 million foreign arrivals, showed data from the Vietnam National Authority of Tourism (VNAT). It was also the first time the four-month figure exceeded 8.8 million. April marked the fourth straight month with more than two million visitors.
VIETNAM ECONOMY INVESTMENT
FOREIGN CAPITAL INFLOWS TO HCMC SOAR
Foreign investment into HCMC more than doubled in the first four months of 2026, while new business registrations surged, as Vietnam’s commercial hub accelerated reforms to achieve double-digit economic growth. Hoang Vu Thanh, director of HCMC’s Department of Finance, said at a meeting on May 8 that the city had attracted nearly US$3.3 billion in foreign investment since the start of the year, skyrocketing 127.1% year-on-year and equivalent to about 30.2% of its full-year target.
CHARITY / EXHIBITION / OTHER EVENTS
INVITATION TO AN GIANG PLANNING ANNOUNCEMENT AND INVESTMENT PROMOTION CONFERENCE
In implementation of the 2026 local support program and in support of FDI enterprises expanding their investment in the Southern, IPISC – Ministry of Finance is supporting An Giang Province in organizing the An Giang Planning Announcement and Investment Promotion Conference. IPISC respectfully invites the Leadership of your esteemed organization to attend the Conference and kindly support the invitation of your member enterprises to participate in the event.
VIETNAM ECONOMY INVESTMENT
HCMC TARGETS VND1 QUADRILLION IN BUDGET REVENUE FOR 2026
Speaking before Party General Secretary and State President To Lam, and other top Party and State officials, Quang described the targets as a strong political commitment. Breaking down the revenue goal, Quang said the city has set a baseline target of VND964 trillion, up about 20% against 2025. To reach the VND1 quadrillion mark, the city will need to mobilize an additional VND36 trillion.
Events Sponsors
