Việt Nam's International Financial Centre in HCM City is set to open on December 19. — VNA/VNS Photo

HCM CITY — HCM City has prepared the infrastructure, human resources and investors to open and operate its International Financial Centre (IFC) on December 12.

During a working session with Permanent Deputy Prime Minister Nguyễn Hòa Bình on the progress of Việt Nam’s IFC in HCM City on December 9, Dr. Trương Minh Huy Vũ, director of the Institute for City Development Studies, said that the city is planning the headquarters for the IFC’s executive and supervisory agencies in three phases.

The first phase will see the headquarters located at the Startup & Innovation Hub of HCM City building (Xuân Hòa Ward), while in the second phase, it will relocate to an office building in 8 Nguyễn Huệ Street (Sài Gòn Ward), which is being renovated.

In the third phase, the IFC will be completed in the Thủ Thiêm new urban area.

Regarding data and technical infrastructure, Vũ said that HCM City has 16 data centres that can be used for the operations of the IFC.

There are also over 50 investors and organisations who are interested in the IFC in HCM City in the areas of infrastructure, finance, technology and digital services. At the recent 2025 Autumn Economic Forum, HCM City identified 10 strategic partners who can become founding members for the IFC.

The HCM City People's Committee said that central ministries and agencies need to allocate experts and appropriate personnel to ensure that the IFC supervisory agency can operate effectively from the beginning.

Mai Thị Thu Vân, deputy head of the Government Office, said that ministries and agencies are focusing on finalising eight decrees guiding the implementation of Resolution No. 222/2025/QH15 of the National Assembly on the IFC in Việt Nam.

Most of the content has been completed, is undergoing final review, and is likely to be finished before December 19, allowing for the creation of mechanisms for the IFC operation, she said.

Permanent Deputy Prime Minister Nguyễn Hòa Bình instructed the Ministry of Finance to organise a meeting with HCM City and Đà Nẵng to agree upon the operating model of Việt Nam’s IFC, and review regulations so that it can be implemented as soon as possible.

He stressed that the preparation of the infrastructure needs to be flexible to not interrupt the IFC’s operation.

Regarding human resources for financial operation and supervision, since there are currently not many officials with experience in IFC operation, the centre may rely more on foreign personnel at first, until the local workforce gains more experience.

Việt Nam’s first IFC, to be developed simultaneously in HCM City and Đà Nẵng, will become a key platform for global capital flows, financial innovation and digital finance development, supporting the country’s ambition to become a regional financial hub. — VNS