Singapore’s United Overseas Bank (UOB) is exploring membership in the Vietnam International Financial Centre (VIFC), a project meant to connect domestic, global and regional capital flows.

The government is accelerating preparations for Vietnam’s international financial center, with new regulations and governance structures expected this month.

Vietnam always wishes to continue strengthening cooperation with UK partners in capital market development, green transition, green finance, and the establishment of Vietnam international financial centre, said Minister of Finance Ngo Van Tuan.

Mayor Daniel Lurie affirmed that San Francisco, with its strengths in high technology and finance, stands ready to promote investment cooperation and connectivity for the development of the Vietnam International Financial Centre.

As developing an international financial centre (IFC) is considered a strategic step for Vietnam in its new stage of development, a decisive factor is the availability of a financial workforce that meets international standards.

Trading platforms at the Vietnam International Financial Centre in Ho Chi Minh City and Da Nang city should be launched early and introduced to the global market, according to Permanent Deputy Prime Minister Nguyen Hoa Binh.

Though newly operational, the Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC) has posted encouraging early results, reflecting strong investor confidence and emerging as a gateway for major capital inflows into Vietnam.

A modern financial centre will deepen capital markets, connect Vietnam to global capital, expand green and digital finance, and fund infrastructure and clean energy - key drivers of sustainable growth, Permanent Deputy PM Nguyen Hoa Binh said.

The Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC) has been structured around four pillar product groups.

The Vietnam International Financial Center in Ho Chi Minh City (VIFC-HCMC) has officially launched, with seven founding members and six strategic partners committing to move beyond planning and deliver tangible results.

Singapore welcomes Vietnam’s strategic move to establish its own financial hub and pledges to share knowledge and experience.

The PM stressed the need for strong determination, great effort, and decisive action—avoiding both perfectionism and haste, yet seizing every opportunity—with a commitment to completing each task thoroughly and deliver tangible results.

Saigon Marina IFC Tower, the first facility in the HCM City IFC zone, will serve as a hub for multinationals, financial institutions, consulates, and local enterprises.

Vietnam is moving to establish an international financial centre in Ho Chi Minh and Da Nang, two of its most dynamic cities, a plan that includes controlled trial for digital assets which is attracting interest from Swiss investors.

Da Nang signs strategic MOU with Terne Holdings and The One Destination, aiming to position itself as Vietnam’s next financial hub.

The National Assembly (NA) on June 27 adopted the resolution on the International Financial Centre (IFC) in Vietnam, with 438 out of 447 legislators voting in favour, representing 91.63% of all NA deputies.

The National Assembly debated a bold plan to establish financial hubs in HCMC and Da Nang with advanced regulatory frameworks.

Vietnam’s upcoming international financial center will follow a “one center, two destinations” model, operating jointly from Ho Chi Minh City and Da Nang.

HCM City is stepping up efforts to fulfill key conditions for the establishment of an international financial centre, seen as a strategic move to deepen Vietnam’s integration with global financial markets.