HCMC – The government of HCMC aims to establish a comprehensive partnership with the U.S.-based Nasdaq Stock Exchange to develop Vietnam’s International Financial Center (IFC) in the city, according to Nguyen Van Duoc, chairman of the HCMC People’s Committee.
On October 9, Chairman Duoc welcomed Robert H. McCooey, vice president of Nasdaq and head of its Global Capital Markets division, for a working session in HCMC.
During the meeting, Chairman Duoc expressed his delight in hosting McCooey and highlighted the dynamic development of the Vietnam–U.S. Comprehensive Strategic Partnership, particularly in economic and technological cooperation.
Duoc said that Nasdaq is one of the largest stock exchanges in the United States, alongside the New York Stock Exchange, and that HCMC is in the process of establishing Vietnam’s International Financial Center, supported by the National Assembly’s Resolution 222, which provides the legal framework for starting the development of the city’s financial hub.
He added that HCMC hopes to cooperate extensively with Nasdaq in areas where the exchange holds strengths, including technology, international connectivity, and most importantly, investor trust, to attract capital flows from around the world.
Both sides have agreed in principle that they could possibly sign a memorandum of understanding (MoU) during Chairman Duoc’s upcoming trip to the U.S., which is expected to take place from October 15 to 20. The MoU is expected to mark an important first step toward concretely realizing the vision of Vietnam’s IFC in HCMC.
Robert H. McCooey noted that Nasdaq’s advantage lies not in physical infrastructure, but in technology, human capital, and building trust with the global investment and financial community. He sees HCMC as full of potential and opportunities. He expressed his expectation that HCMC’s IFC could become a leading finance and technology center in the region.
The Nasdaq executive also emphasized the importance of collaboration with Vietnamese ministries, agencies, and local authorities throughout the development and operation of the IFC, helping investors clearly see the benefits and opportunities of engaging with this strategic initiative.
Nasdaq has pledged to support HCMC’s financial center through concrete actions, including workforce training, financial technology transfer, and investment promotion, beginning with the signing of the MoU during Chairman Duoc’s visit to the U.S. later this month.
