This was shared by Mr. Truong Minh Huy Vu, Director of the Ho Chi Minh City Institute for Development Research (HIDS), at the scientific workshop “Artificial Intelligence (AI) and Green Finance for Sustainable Development” hosted by HIDS in collaboration with the Ho Chi Minh City Department of Information and Communications and the Friedrich Naumann Institute for Freedom (FNF) on the afternoon of December 5.
According to Mr. Truong Minh Huy Vu, the Political Bureau has recently approved the proposal to establish a project for the establishment of an International Financial Center in Ho Chi Minh City and a Regional Financial Center in Danang. The International Financial Center in Ho Chi Minh City will be studied based on super models from existing financial centers such as London, New York, and Frankfurt; recent financial centers such as Singapore and Hong Kong; and emerging financial centers with special policies such as Dubai.
The proposal for the establishment of the International Financial Center in Ho Chi Minh City has been approved by the Political Bureau. Photo: Tan Thanh
“We will choose a model with a suitable perspective for Vietnam and form accompanying policies. In this regard, the application of fintech and AI technologies in the Ho Chi Minh City International Financial Center is of great importance. In fact, Vietnam has already applied these technologies in certain areas, such as the regulatory sandbox for peer-to-peer lending (P2P Lending); using AI for credit evaluation and scoring; and leveraging AI for startups in Ho Chi Minh City,” said Dr. Vu.
Regarding green finance, how can we mobilize resources for implementation? According to experts, technology plays an indispensable role in developing green finance, creating innovative solutions to enhance efficiency and reduce risks. Green finance is an important factor in the development of the international financial center. Ho Chi Minh City currently has several funds dedicated to green transition and climate change, aiming towards the goal of Net Zero. The city’s transportation system will also transition to electric buses…
From an expert’s perspective, Mr. Ludwig Graf Westarp, Vice President of the Vietnam-Germany Association, stated that to develop the international financial center, the challenge is how Ho Chi Minh City can compete with other financial centers like Dubai. The city also needs time to build this center and establish a certain level of competitive advantage.
Housing for All: A Call to Action for 3,800 Social Housing Units in Ho Chi Minh City
The vibrant city of Ho Chi Minh is gearing up to boost investments in seven land projects, spanning over 27 hectares. With a vision to construct more than 3,800 social housing units, the city is taking proactive steps to cater to the housing needs of its growing population. This initiative underscores the city’s commitment to providing affordable and quality living options for its residents, ensuring that everyone has a chance to call Ho Chi Minh City their home.
The New Rent: Navigating Ho Chi Minh City’s Revised Rental Landscape
Compared to Decision 22/2018, the rental rates for old public housing in Ho Chi Minh City, which has been allocated for use since January 19, 2007, has seen a significant increase with a multiplier of 3, up from the previous rate of 2.
Why Does Dong Nai Propose Building a Tunnel Across the River Instead of Cat Lai Ferry?
Prime Minister Pham Minh Chinh has approved the plan to construct a tunnel to connect Dong Nai province and Ho Chi Minh City, replacing the Cat Lai Bridge. This decision comes after a proposal from the People’s Committee of Dong Nai province, showcasing the government’s commitment to enhancing connectivity and infrastructure development in the region.
The Housing Prospect: 70,000 Social Homes
With the support and collaboration of businesses, Ho Chi Minh City has the opportunity to meet its social housing development targets by 2030. This ambitious goal is within reach, and with the right strategies and partnerships, the city can provide much-needed affordable housing for its residents, creating a brighter and more inclusive future for all.
The Power of Decentralization: Empowering Hanoi and Ho Chi Minh City to Build Efficient Metropolitan Rail Systems
“The Prime Minister emphasized the need for a revolutionary approach in developing the urban railway system for these two major cities. This project entails a complete delegation of authority and empowerment of Hanoi and Ho Chi Minh City in its implementation and resource mobilization.”
