The Maritime Financial Centre, operating under the Vietnam International Financial Centre in HCM City (VIFC-HCMC), is expected to debut on May 21 with the participation of logistics firms, port operators, banks and international corporations.

The new centre will focus on providing financial services linked to import-export activities, shipping operations and logistics services.

According to Associate Professor Nguyen Huu Huan, vice chairman of the Executive Agency of the Vietnam International Financial Centre in HCM City, the city currently possesses major advantages thanks to its extensive port infrastructure, particularly the Cai Mep – Thi Vai port complex and the newly launched Can Gio International Transshipment Port project.

Despite the large volume of goods passing through Southern Vietnam’s port system, most related financial transactions are still conducted overseas, especially in Singapore and Hong Kong (China), where international financial centres are already well established.

The total value of goods moving through port systems in the HCM City region is estimated at more than US$1 trillion annually. However, the majority of financial services associated with these trade flows are still handled outside Vietnam.

Currently, around 80–90% of financial transactions related to import-export and logistics activities in the region are processed through international financial hubs with more developed legal frameworks, stronger foreign currency liquidity and mature financial ecosystems.

Officials view this as a significant gap that the Vietnam International Financial Centre in HCM City hopes to address through the development of a maritime finance ecosystem.

According to Huan, one reason international businesses have yet to choose Vietnam as a location for major financial transactions is concern over legal mechanisms and capital flow management.

To address this issue, an international court is expected to be established within the Vietnam International Financial Centre in HCM City in the future, a move authorities believe could attract more international investors and businesses.

Huan said the VIFC-HCMC aims to bring around 30% of the current value of cargo-related financial transactions back to Vietnam within the next five years.

“That would equal approximately US$300 billion per year. We already have strategies in place to achieve this goal,” he stated.

The initiative is expected to support HCM City’s broader ambition of becoming a regional hub for maritime finance, logistics services and international trade activities in Southeast Asia.

Gemadept breaks ground on VND8.4 trillion Phase 2 of Gemalink deep-sea port

VOV.VN - Gemadept Corporation, in partnership with leading French container shipping and logistics group CMA CGM, on April 17 broke ground on Phase 2 of the Gemalink deep-sea port at the Cai Mep–Thi Vai complex, a project with total investment of nearly VND8.4 trillion.