# Vietnam international financial center development

> Live situation record from CLSTR: https://clstr.news/situations/20261028-vietnam-international-financial-center-development
> Updated: 2026-10-28T10:30:00.000Z. Sources: 7. Developments: 2.

Vietnam is implementing a “one center, two destinations” model to establish international financial centers in Ho Chi Minh City and Da Nang. Under this framework, Ho Chi Minh City will focus on traditional finance and large-scale project funding, while Da Nang will prioritize innovation and modern financial sectors. The initiative aims to diversify capital mobilization sources, which currently rely heavily on bank credit, to support national development goals.

During the 2026 Autumn Economic Forum, Deputy Prime Minister Nguyen Van Thang, acting as Chairman of the Vietnam International Financial Centre (VIFC) Executive Council, directed the Ho Chi Minh City branch (VIFC-HCMC) to accelerate its transition from organizational establishment to substantive operations. He set a target for the center to facilitate its first official transactions by November 2026.

To meet this timeline, stakeholders are focused on resolving regulatory bottlenecks. Key requests from banks and investors include speeding up licensing processes for member banks, establishing mechanisms for capital transactions during licensing transitions, and refining frameworks for tax incentives, asset management, and dispute resolution. Additionally, participants proposed developing new products such as green finance, aviation finance, and trade finance to attract international capital. SonKim Capital IFC has been recognized as an official member of VIFC-HCMC, marking a step toward connecting international capital with Vietnamese assets.

## Claims

- Deputy Prime Minister Nguyen Van Thang requested the VIFC-HCMC to achieve its first transactions in November 2026. (corroborated by 2 sources)
- Banks proposed conducting transactions while waiting for operating licenses. (single source)
- SonKim Capital IFC was recognized as an official member of VIFC at AEF 2026. (single source)
- SonKim Capital IFC plans to raise $275 million in international capital for social infrastructure. (single source)
- Ho Chi Minh City announced the first 10 members of the International Financial Center. (single source)

## Timeline

### 2026-10-28: Vietnam aims for first VIFC-HCMC transactions by November 2026

Vietnam's Deputy PM Nguyen Van Thang has ordered the Ho Chi Minh City International Financial Centre to begin substantive operations and execute its first transactions by November 2026.

6 sources. https://clstr.news/cluster/ho-chi-minh-city-international-financial-center-aims-for-first-transactions-in-november

### 2026-10-27: Vietnam establishes international financial center model

Vietnam is implementing a dual-location international financial center in Ho Chi Minh City and Da Nang to attract global capital and modernize its financial markets.

2 sources. https://clstr.news/cluster/vietnam-establishes-international-financial-center-model

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Cite as: Vietnam international financial center development. CLSTR, https://clstr.news/situations/20261028-vietnam-international-financial-center-development