Vietnam international financial centre plans are prompting domestic lenders to expand into the country’s new hub as they seek to attract foreign capital and build cross-border financial services. Nam A Bank has won shareholder approval to establish a wholly owned subsidiary under the centre’s framework, while Vietcombank and VietinBank are also moving to set up entities there. The centre, launched in Ho Chi Minh City on Feb. 11, is expected to focus on sustainable finance, gr

Vietnam’s central city of Da Nang is positioning itself as a new regional finance hub after granting membership certificates to 16 organisations and financial institutions for its planned international financial centre. City authorities also issued letters of interest to three commercial banks and an international holding group, and approved investment proposals worth VND37.8tr (USD1.5bn), local media reported. The announcements were made at an investment promotion event link

Vietnam is preparing to open its first international financial centre in Ho Chi Minh City on December 12, with authorities saying the city has the infrastructure, talent pipeline and investor interest required to begin operations. The Vietnam international financial centre will initially house its executive and supervisory bodies at the city’s Startup & Innovation Hub before relocating to a renovated office on Nguyen Hue Street and later to a permanent base in the Thu Thiem u