Vietnam international financial centre: plans for HCMC

Vietnam international financial centre plans took a formal step on 21 December 2025. Prime Minister Pham Minh Chinh chaired a conference that day to announce the centre's establishment. Ho Chi Minh City and Da Nang are the two cities involved. Firms should know what is settled, what is not, and what to watch next.

What was announced on 21 December

The Prime Minister's decision to set up the centre was made public at the conference. Reports of the event did not give the decision number or date, so check the official text before you quote it.

A coordinating council was formed. It is chaired by Permanent Deputy Prime Minister Nguyen Hoa Binh. The heads of the People's Committees of Ho Chi Minh City and Da Nang were asked to help carry out the tasks. Ministers and sector heads were asked to carry out the tasks in a decisive and joined-up way.

Source: VnExpress International (via VNA), 21 December 2025, on the announcement of the international financial center (e.vnexpress.net).

What the centre is meant to do

Officials gave several goals at the conference. In plain terms, they are:

Raise Vietnam's role in the global financial network.
Raise money for major infrastructure without lifting the public debt ceiling.
Give Vietnamese firms a base to grow abroad and adopt stronger governance standards.
Push reforms that make rules more open and more digital.

The Prime Minister also said Vietnam does not plan to compete head on with other regional or world financial centres. The aim is a model that links with them. He described the goal as a centre that is free, digital, green, safe, open, competitive, efficient and lasting.

Source: VnExpress International (via VNA), 21 December 2025 (e.vnexpress.net).

Business representatives at the conference pledged to help bring in foreign capital. They named digital change, green finance and inclusive finance as areas where they plan to invest. These are pledges, not signed deals, so treat them as signals of direction only.

Source: VnExpress International (via VNA), 21 December 2025 (e.vnexpress.net).

How oversight is meant to work

The supervisory body is meant to work on its own and in the open. It is also expected to follow Vietnam's international commitments on anti money laundering. For a firm weighing a move, this matters. A clear and independent supervisor is usually the first thing a foreign partner asks about.

Officials also asked government staff to shift to a service mindset. They said the wider economic infrastructure and business setting should match international standards so that experts and investors feel secure.

Source: VnExpress International (via VNA), 21 December 2025 (e.vnexpress.net).

Ho Chi Minh City's early steps

Ho Chi Minh City had already begun work. On 26 November 2025 its Department of Finance signed a memorandum of understanding with the crypto exchange Binance. It was signed at the side of the Autumn Economic Forum 2025. The city's People's Committee had told the department to coordinate and carry out the policies needed to set up the centre.

The memorandum sets up a joint working group. The group is to meet at least twice a year to draft action plans and track progress. Once an operating agency for the centre exists, the memorandum is to pass to that agency.

One point needs care. The memorandum covers support for a controlled test space for digital asset projects. That support applies only once an adequate legal framework is in place and approved by the proper agencies. It is not a licence to run such a business today.

Source: Viet Nam News, 26 November 2025, on the Ho Chi Minh City and Binance memorandum (vietnamnews.vn).

What is still to be set

The announcements left several practical questions open. Reports did not list tax rates, fee waivers or other incentive packages. They did not give a timeline for later phases. They also did not give the exact boundaries of the centre or the licence rules for firms that want to join.

Until those details appear in official documents, a sensible plan is simple:

Watch for the published decision and any guiding rules from the ministries.
Do not promise clients tax or licence benefits that no text has set out.
Ask your legal adviser which of your activities would need a new approval.
Keep your own records and governance in good order, since oversight is meant to be strict.

This article gives general information. It is not legal or financial advice.

Sources: VnExpress International (via VNA), 21 December 2025 (e.vnexpress.net); Viet Nam News, 26 November 2025 (vietnamnews.vn).

Sources

https://e.vnexpress.net/news/business/vietnam-establishes-international-financial-center-4996465.html
https://vietnamnews.vn/economy/1730459/hcm-city-partners-with-binance-to-advance-international-financial-centre-development.html