At the conference on Building a Financial Center in Vietnam held on the afternoon of March 28, Ho Chi Minh City Department of Finance proposed two specific options.
Option 1 is located in the central business district – CBD (Sub-area 1) of the new urban area of Thu Thiem, Thu Duc City, and partly in the center of District 1 (Sub-area 5) adjacent to it, with a total area of about 340 hectares.
Option 1 proposed for the establishment of the Vietnam Financial Center (Photo by BTC)
Ho Chi Minh City Department of Finance assessed that the advantage of Option 1 is that it is in line with the city’s planning that has been approved by competent authorities, and it is also consistent with the proposal in the project that has been reported and approved in principle by the Politburo.
Option 1 has a similar scale in terms of area when compared to successful financial centers worldwide, and it is possible to mobilize investment resources for immediate construction. However, the disadvantage of this option is that its small scale limits future development potential.
On the other hand, Option 2 has a total area of about 687 hectares. It includes the sub-areas and the financial center area in District 1 (similar to Option 1). Along with this, the new urban area of Thu Thiem will accommodate all functional sub-areas (except sub-area 8) with an area of about 564 hectares.
Option 2 proposed by Ho Chi Minh City Department of Finance (Photo by BTC)
A comparison between the two options shows that they differ only in terms of scale, with other contents being basically similar.
Ho Chi Minh City Department of Finance proposed choosing Option 2 to arrange the space for the financial center. This option is expected to offer more room for development. This proposal ensures compliance with the direction of the Politburo and is in line with the planning approved by competent central and local authorities.
Out of the expected 687 hectares for investment attraction, 9.2 hectares in 11 sub-areas in the core of the new urban area of Thu Thiem will be allocated for the construction of management agencies of the financial center’s activities, judicial agencies, supervisory agencies, and modern financial buildings.
An Urgent Proposal for the $4 Billion Metro Line Connecting Can Gio
The Ho Chi Minh City Department of Transportation has proposed to the People’s Committee to request the Prime Minister’s approval for the addition of a new metro line to Can Gio District (Metro Line 12) to the list of projects under the National Assembly’s Resolution 188.
Vingroup Launches Vinhomes Green City Project in Long An
On March 26, 2025, Vingroup inaugurated the construction of Vinhomes Green City – the first integrated township in its ecosystem in Long An. This groundbreaking ceremony marked the beginning of a potential investment opportunity, fostering prosperity and development in the entire region.
The Trial of Trung Hau 68: A Defendant Pays VND 20 Billion in Damages
Phùng Mỹ Luông has paid the highest amount in remedial fines, a staggering 19.7 billion VND. This significant sum showcases their commitment to rectifying any wrongdoings and taking responsibility for their actions.
Where is the Money Going in Real Estate?
From the start of the year, the low-rise segment has been the most absorbed property sector in Northern Vietnam.
Young Family’s Struggle: Selling Their Home to Escape Debt, Now Seeking an Affordable Rental in Ho Chi Minh City
A young couple in Ho Chi Minh City found themselves in a financial bind. Their monthly income was not enough to cover the bank interest and their living expenses, so they were forced to sell their house. However, renting an apartment proved to be no easy task either.
