On October 17th, at the headquarters of the Nasdaq Stock Exchange in New York, USA, a Memorandum of Understanding (MOU) signing ceremony took place between Nasdaq and the Ho Chi Minh City Department of Finance. The event aimed to foster the development of the Vietnam International Financial Center in Ho Chi Minh City.
The ceremony was attended by Mr. Nguyen Van Duoc, Chairman of the Ho Chi Minh City People’s Committee, along with leaders from various city departments; Mr. Chuck Mack, Senior Vice President, Head of Strategy and Public Policy at Nasdaq; and representatives from international investment funds and U.S. businesses.
Nasdaq, the world’s first and largest electronic stock exchange, is home to leading technology corporations such as Apple, Microsoft, Google, Amazon, Meta, Tesla, PayPal, and Intel. As the globe’s largest stock exchange group, Nasdaq provides advanced services and technologies, supporting capital raising, business model transformation, and economic growth on an international scale.
Chairman Nguyen Van Duoc of Ho Chi Minh City People’s Committee with Nasdaq representatives, investment funds, and businesses at Times Square.
Ho Chi Minh City has been designated by the Vietnamese National Assembly as the location for the Vietnam International Financial Center, with the goal of becoming a regional hub for finance, industry, and innovation in Southeast Asia. The Ho Chi Minh City Department of Finance is tasked with coordinating and implementing policies and initiatives related to the center’s development.
The event underscores Ho Chi Minh City’s commitment to building a dynamic, transparent, and sustainable international financial center, aligned with Vietnam’s 2030 development vision.
Under the MOU, both parties agreed to collaborate in five key areas: strategic cooperation in governance, capacity building, cross-listing, and product development; training human resources for the international financial center, particularly in securities, bonds, derivatives, digital assets, and carbon credit markets; and enhancing connectivity between Vietnamese, American, and global financial communities.
Times Square celebrates the MOU signing between Nasdaq and Ho Chi Minh City for the international financial center development.
Both parties also agreed to establish a Joint Working Group to develop action plans, monitor progress, and address challenges during implementation. The group will meet at least twice a year, either in person or virtually. Once the Ho Chi Minh City International Financial Center Management Authority is established, the MOU will be transferred to this body for continued execution.
The signing ceremony marks a significant milestone in the partnership between Ho Chi Minh City and Nasdaq, enhancing management capabilities, connecting Vietnam’s capital market with the global market, and attracting high-quality investment in finance, technology, and innovation.
The Ho Chi Minh City delegation, led by Chairman Nguyen Van Duoc, takes a commemorative photo with Nasdaq representatives.
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