Hanoi eyes two financial centres to attract global investors
VOV.VN - Hanoi is considering the development of two financial centres as part of its long-term strategy to strengthen the capital’s role in national and regional financial services.
The plan is outlined in the draft Master Plan for Hanoi with a 100-year vision, which is currently open for public consultation. According to the report, the city identifies trade and services as one of three key pillars for economic development, alongside industry–construction and agriculture.
Within the services sector, Hanoi aims to develop into a national financial hub while expanding financial services to regional and international levels.
Under the proposal, the financial centre in Hanoi will be built with two main components. The first is the Hoan Kiem financial centre and its commodity trading ecosystem, expected to take shape by 2030. The Hoan Kiem ward is planned to serve as the core area of the financial centre.
The city intends to prioritise suitable spaces to attract major financial institutions to establish or maintain their headquarters in the area. Hoan Kiem already hosts the State Bank of Vietnam, as well as many leading domestic banks and securities firms.
In addition, Hanoi plans to upgrade the Hanoi Central Financial Exchange into a commodity exchange, supported by an information system, regulated trading registration connections and an appropriate operational mechanism.
After 2030, a second component of the capital’s financial centre is expected to be developed in northern Hanoi along the Nhat Tan–Noi Bai corridor, together with an international commodity trading ecosystem.
The area is considered advantageous due to its strong transport connectivity and proximity to Noi Bai International Airport, making it suitable for hosting headquarters of international financial institutions and multinational corporations.
The proposed northern financial centre is expected to feature smart infrastructure and management systems, along with digital platforms capable of providing a full range of financial services.
VPAM pledges US$10 billion for Vietnam International Financial Centre
VOV.VN - Vantage Point Asset Management (VPAM), one of the leading asset management firms based in Singapore and Australia, will mobilise US$10 billion over five years for investment in the Vietnam International Financial Centre (VIFC), with a focus on the Ho Chi Minh City hub, known as IFC HCM.
