The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo
SUBSCRIBERS

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

Summarise
google-preferred-sourceAdd BT as a preferred source

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

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    The most striking aspect of the Paragon deal is that the manager of CICT seems less fazed by the ageing property’s need for an asset enhancement initiative than Cuscaden Peak.

    Paragon deal: Why investors should get ready for more Reit mergers and take-private offers

    The message was sent with addresses under the carbon copy feature instead of blind carbon copy, meaning that all recipients could see all the other e-mail addresses in the chain. 

    LTA apologises for e-mail gaffe in circular sent to EV charger owners

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More