The Vietnam International Financial Center in Ho Chi Minh City (VIFC‑HCMC) is laying out a detailed plan to become a world‑class financial hub. Understanding this plan helps anyone interested in how a city can attract finance and investment.

Deputy Prime Minister Nguyen Van Thang urged agencies to speed up the legal framework, licensing procedures and operating conditions for VIFC‑HCMC. He said the goal is to have real transactions and a bank member by November, moving the centre toward substantive operations.

Earlier on the same day, VIFC‑HCMC formally recognized its first ten members, all holding companies with interests in investment, infrastructure, logistics, energy, fintech, payments and commodity trading. The members together hold US$33.63 million in registered and committed charter capital and plan to raise and invest about US$2.7 billion by 2027, reaching US$3 billion by 2030.

The centre also aims to issue rules for accepting investment funds in November and to introduce three tiers of asset‑management licences modeled on Singapore, Dubai and Hong Kong. These steps come as Ho Chi Minh City rose 17 places to 67th in the Global Financial Centers Index, showing an improving global standing.

Vietnam’s approach shows that fast‑track legal reforms, early member recruitment, clear capital targets and internationally‑tested licensing models can quickly boost a city’s financial profile. The recent rise in the global index suggests the plan is already making an impact.