10 members of HCMC financial centre pledge US$2.7 billion for development projects
Ten founding holding companies of the Ho Chi Minh City International Financial Centre (VIFC-HCMC) have committed to raising US$2.7 billion for infrastructure and commercial projects. The largest pledge, US$1 billion, comes from property developer Keppel Vietnam, followed by US$816 million from Saigo
The Ho Chi Minh City International Financial Centre (VIFC-HCMC) announced on Wednesday that its 10 founding holding companies have pledged to raise a combined US$2.7 billion for development projects. The announcement was made at the 2026 Autumn Economic Forum, attended by Prime Minister Le Minh Hung, members of his government, Nguyen Thanh Nghi, head of the Central Policy and Strategy Commission, and HCMC leaders.
Property developer Keppel Vietnam made the largest commitment, pledging to raise US$1 billion for investment in infrastructure and commercial properties within VIFC-HCMC. Saigon Marina IFC plans to raise US$816 million to set up technology infrastructure for the centre. Liquefied natural gas distributor AG&P will raise at least US$425 million, eventually increasing the figure to US$1 billion, for energy projects in the centre.
VIFC-HCMC is focused on attracting financial institutions, initially targeting investment funds and asset management companies. The centre expects to announce procedures and regulations for accepting investment funds in November. Banks, securities companies and other businesses in regulated sectors will be considered for licensing in stages as relevant regulations are rolled out.
At a meeting on Tuesday, HCMC vice chairman Truong Minh Huy Vu said the city plans to issue regulations for investment funds in November and will introduce three license tiers for asset management activities, modelled on Singapore, Dubai and Hong Kong. HCMC last month climbed 17 places to 67th in the Global Financial Centres Index compiled by London-based Z/Yen Partners and the China Development Institute.
VIFC-HCMC, which began operation in February, was created to connect domestic and international capital with businesses and strategic projects in Vietnam. It covers 898 hectares straddling Saigon and Ben Thanh wards and the Thu Thiem New Urban Area.
