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Ho Chi Minh City, Da Nang push for billion-dollar projects as Vietnam plans site for new financial centre

Singapore, as the region’s financial hub, could be a key source of expertise and inspiration

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Jamille Tran

Published Tue, Apr 29, 2025 · 07:00 AM
    • The initial plan was to site the IFC at the Thu Thiem urban area in Ho Chi Minh City, and this was later expanded to Da Nang’s Son Tra district.
    • The initial plan was to site the IFC at the Thu Thiem urban area in Ho Chi Minh City, and this was later expanded to Da Nang’s Son Tra district. PHOTO: AFP

    [HO CHI MINH CITY] Vietnam’s decade-long bid to build an international financial centre (IFC) is nearing a key breakthrough, with its Parliament expected to approve special regulatory mechanisms in May.

    This has intensified investor interest in real estate tied to projects in Ho Chi Minh City and Da Nang – the two locations that have been identified as the country’s new international financial hub.

    Authorities in the two cities have earmarked vacant land parcels to woo billion-dollar projects and sought expert advice to lobby for favourable policies in order to draw global capital.

    AseanVietnamAsean BusinessFinancial servicesReal estateProperty

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