The Ho Chi Minh City Institute of Development Studies Ho Chi Minh City has just updated the development strategy of the Ho Chi Minh City International Financial Center. Ho Chi Minh City with a roadmap of 3 phases and many breakthroughs in organizational structure.

On November 27, at the Ho Chi Minh City Innovative Startup Center. Ho Chi Minh City – SIHUB, the Department of Science and Technology of Ho Chi Minh City organized an international conference with the theme “Technological breakthrough and innovation – Creating the future generation (Nextgen) for Ho Chi Minh City. Ho Chi Minh City”. In particular, the focus is “Ho Chi Minh City International Financial Center. Ho Chi Minh City – A new pulse in the APEC financial ecosystem”.

The conference is within the framework of the Ho Chi Minh City Innovation, Science and Technology and Creative Startup Week. Ho Chi Minh City in 2025 (WISE HCMC⁺ 2025).

The event took place within the framework of WISE HCMC⁺ 2025, demonstrating the city’s vision in building a socio-economic development platform based on science and technology. The conference focused on discussing strategies for technology development, innovation and shaping the Ho Chi Minh City International Financial Center. Ho Chi Minh City (IFC) in the new era.

Attending the conference were Mr. Duong Anh Duc, Head of the Propaganda and People’s Mobilization Department of the Ho Chi Minh City Party Committee. HCM; Mr. Lam Dinh Thang, Director of the Department of Science and Technology of Ho Chi Minh City. HCM; Ms. Nguyen Thi Phuong Ngoc, Deputy Director of the Department of Justice of Ho Chi Minh City. HCM; Mr. Vu Chi Kien, Deputy Director of the City Development Research Institute; Mr. Nguyen Thanh Hoa, Deputy Director of the City Digital Transformation Center.

The conference welcomed leaders of diplomatic agencies and international organizations: Mr. Dao Ha Trung, Honorary Consul General of the Republic of Austria in Ho Chi Minh City. HCM; Ms. Jade Koh, Regional Director for Vietnam and Thailand of the Singapore Economic Development Board – EDB; Mr. Alan Ang, Chairman of the Asian Blockchain Association…

International Financial Center (IFC) organization according to advanced standards

Speaking at the opening of the conference, Director of the Department of Science and Technology of Ho Chi Minh City. Lam Dinh Thang said that in order for the city to develop a breakthrough and reach out to the international level, it is necessary to focus on creating a “next generation” – an intergenerational synergistic ecosystem: where the creativity and breakthrough spirit of young people are led by experience, deep knowledge of current generations of experts and leaders.

Director of the Department of Science and Technology of Ho Chi Minh City. Lam Dinh Thang spoke at the conference.

“It is this harmonious combination that will help us master technology, create new values that are sustainable, humane, inclusive, all participate, all benefit, and leave no one behind,” Mr. Lam Dinh Thang shared.

At the conference, MSc Nguyen Truc Van, Director of the Center for Socio-Economic Simulation and Forecasting of the Ho Chi Minh City Institute of Development Studies. Ho Chi Minh City (HIDS), said that Resolution No. 222 is currently the most important framework document, defining the goal of building the IFC Vietnam model located in Ho Chi Minh City. Ho Chi Minh City and Da Nang.

MSc Nguyen Truc Van, Director of the Center for Socio-Economic Simulation and Forecasting of the Ho Chi Minh City Institute of Development Studies. Ho Chi Minh City, updated the development strategy of the Ho Chi Minh City International Financial Center. HCM.

The goal of this model is to promote sustainable financial development, operate according to advanced international standards, attract high-quality human resources and ensure the harmony of interests between the State, investors and people.

According to MSc Nguyen Truc Van, IFC Vietnam will be organized with three main branches including the executive body, the supervisory agency and the dispute resolution agency. The biggest breakthrough is the application of the Common Law system in related activities, and the construction of specialized courts and international arbitration centers for dispute resolution. This is considered a legal foundation to help the investment environment be transparent, competitive and in line with global practices.

The financial center model of Ho Chi Minh City. Ho Chi Minh City is expected to develop on three pillars: the money market – banking, the capital market and the derivatives market. The city chooses three breakthrough areas including fintech – digital banking, green finance and commodity exchanges.

The city has basically built and completed development plans for financial center space.

IFC’s development roadmap is divided into three phases: the period 2025 – 2030 lays the legal and organizational foundation; Phase 2 (2031 – 2035) will grow target industries, focusing on upgrading financial centers compared to the region; and phase 3 from 2035 aims to become a comprehensive international financial center.

Currently, Ho Chi Minh City. Ho Chi Minh City has established a Steering Committee, developed a plan to develop the financial center space and prepared an operating framework, it is expected that the Ho Chi Minh City International Financial Center. Ho Chi Minh City has an area of 899 hectares.

Experience in creating an R&D ecosystem from Singapore

Speaking at the conference, Ms. Jade Koh, Regional Director for Vietnam and Thailand of the Singapore Economic Development Board – EDB, affirmed that Vietnam is facing the opportunity to develop a strong digital economy. She expects Southeast Asian member countries to sign a Framework Agreement on the digital economy by 2026, with the potential to grow the region’s digital economy to $2 trillion by 2030.

Ms. Jade Koh, Regional Director for Vietnam and Thailand of the Singapore Economic Development Council.

Jade Koh shared Singapore’s path, which is to boldly shift its economic model from one that relies on labor and skills to one that focuses more on technology services and knowledge base. For this country, production and services are the two driving forces of parallel growth of the economy.

Thereby, she emphasized the need to invest resources in research, because R&D (research and development) and innovation are important factors in economic development. She cited that Singapore has spent 1% of its GDP on research and innovation, building a competitive and open digital economy.

At the same time, Singapore devotes resources to building a professional force in technology, in the field of artificial intelligence alone, the country has about 15,000 experts. Ms. Jade Koh said that the Singapore Economic Development Council has just initiated the Singapore-Vietnam Innovation Talent Exchange Program, as an initiative to support the training of high-quality human resources for both sides.

The conference continued with sessions on deep technology, branding, banking, investment, blockchain, and the startup ecosystem. Experts bring a multi-dimensional perspective on the development of Ho Chi Minh City. Ho Chi Minh City in the direction of breakthrough, green, sustainable and globally

Courtesy of Khoa Hoc Pho Thong