The Deputy Prime Minister proposed that American businesses jointly develop a financial center in Vietnam

At the Vietnam-US business discussion in New York on March 23, Permanent Deputy Prime Minister Nguyen Hoa Binh said that Vietnam has basically built a synchronous and outstanding policy framework to operate the International Financial Center and connect with the global financial system.

According to the Deputy Prime Minister, Vietnam wants American businesses to accompany in the process of building, operating and developing the International Financial Center. He suggested that businesses join in developing niche financial services and products with their own strengths, aiming to form an important link in the global financial network.

Government leaders expect American businesses to pioneer and become ambassadors of Vietnam IFC to connect large, potential investors in this country. At the same time, they will support the mobilization and attraction of resources to develop modern financial infrastructure (payment, custody, trading), green finance, fintech, and digital assets.

He also asked American investors to help mobilize international resources, share management experience and consult on policies to build a transparent financial environment, approaching global standards.

The international financial center in Vietnam was established at the end of last year, located in Ho Chi Minh City and Da Nang. Among them, IFC in Ho Chi Minh City (VIFC-HCMC) has been operating since February 11, developed based on strategic pillars including aviation finance center; maritime financial center; Commodity exchange and high-tech depository and clearing center.

Vietnam aims to maintain a double-digit growth rate for many years to come, aiming to become a high-income developed country by 2045. The international financial center is identified as an institutional breakthrough, to mobilize high-quality financial and human resources to achieve high growth goals.

Deputy Prime Minister Nguyen Hoa Binh assessed that the US has outstanding strengths in the fields of finance, science and technology, renewable energy, industry, infrastructure… These are also fields consistent with Vietnam’s orientation to attract foreign investment. Large corporations such as Boeing, Apple, Intel, and NVIDIA are present, showing confidence in the investment environment in Vietnam.

According to the Deputy Prime Minister, Vietnam is being recognized by the world as having an attractive, safe investment environment, dynamic and creative young human resources, and meeting the requirements of new technology.

Last year, the scale of Vietnam’s economy reached over 510 billion USD, ranking 32nd in the world and fourth in the ASEAN region. Per capita income exceeds 5,000 USD a year, entering the group of upper middle income countries. Vietnam belongs to the 15 developing countries attracting FDI and the group of 20 economies with the highest openness in the world.

Government leaders affirmed that Vietnam will accompany, support and create conditions for foreign investors, including American businesses, to operate smoothly and successfully at VIFC. He believes that the International Financial Center will become an important pillar in the relationship between the two countries, bringing the highest and real benefits to the two economies.

Vietnam – US normalized diplomatic relations since 1995, becoming a comprehensive strategic partner in 2023. The two sides are important trade and production partners in the global supply and value chain. In 2025, two-way trade turnover will reach more than 153 billion USD, an increase of 28.1% over the same period last year.

In terms of investment, the US currently ranks 11th out of 153 countries and territories investing in Vietnam. Enterprises in this country have more than 1,530 valid projects and more than 12.4 billion USD in total registered investment capital in Vietnam. In contrast, Vietnam has 271 investment projects in the US with a total registered capital of more than 1.4 billion USD.