On the afternoon of December 9th, Deputy Prime Minister Nguyen Hoa Binh, Head of the Steering Committee for Resolving Difficulties and Obstacles in Stalled Projects (Steering Committee 751), met with the Ho Chi Minh City People’s Committee. The meeting focused on reviewing the progress in addressing challenging projects within the city and preparing for the launch of the International Financial Center in Ho Chi Minh City.
During the meeting, Dr. Truong Minh Huy Vu, Director of the Ho Chi Minh City Institute for Development Studies (HIDS), reported that the center is scheduled to open on December 19th. The city has prepared headquarters for the International Financial Center’s operational and supervisory bodies in three phases.
In Phase 1, the headquarters will be located on the 6th floor of the 123 Truong Dinh building. Phase 2 involves relocating to the 8 Nguyen Hue building, currently under renovation, with completion expected before the 2026 Lunar New Year. Phase 3 will see the construction of a fully developed International Financial Center in the Thu Thiem area.
Meeting in progress. Photo: VGP/Nguyen Hoang
Recently, the National Assembly passed a resolution on the International Financial Center in Vietnam, effective from September 1st. The immediate challenge is to swiftly finalize the legal framework to implement the resolution, including decrees for the development and operation of the International Financial Center in Ho Chi Minh City and Da Nang.
In his concluding remarks, Deputy Prime Minister Nguyen Hoa Binh commended Ho Chi Minh City’s proactive approach in preparing the infrastructure and legal framework. Notably, eight crucial decrees are nearing completion.
Phase 1 headquarters of the International Financial Center will be situated on the 6th floor of the Sihub building in Ho Chi Minh City. Photo: Le Tinh
Regarding operational regulations, Ho Chi Minh City has finalized a draft, signed an agreement with Da Nang, and requested the Ministry of Finance to provide input to ensure consistency and feasibility.
Deputy Prime Minister Binh also praised the city’s phased approach to infrastructure development, particularly in information technology. He emphasized that human resource development is critical for the center to operate at international standards.
A notable highlight is the interest from approximately 20 major investors who have expressed a desire to participate in the International Financial Center.
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