HCMC – HCMC has announced plans to allocate 11 land plots in the Thu Thiem New Urban Area for the development of an international financial center, positioning the city as a key financial hub in the region.
The 9.2-hectare site in Thu Duc City remains largely undeveloped but already has key infrastructure in place, including roads, electricity, water supply, telecommunications, and lighting, the local media reported. The designated 11 plots are within Functional Area 1, a prime location for financial and commercial activities.
The area boasts four mobile broadband providers, 10 fixed broadband service providers, and 10 data center operators. To support the international financial center’s digital infrastructure, the HCMC Department of Science and Technology will collaborate with telecommunications firms to ensure 100% 5G mobile network coverage and high-speed fiber optic broadband along all major roads.
The financial center is expected to commence operations in 2025, with full-scale development planned within the next five years. A steering committee, led by HCMC Party Secretary Nguyen Van Nen, has been established to oversee project implementation.
Once operational, the international financial center is expected to stimulate economic growth, attract foreign investment, and increase capital inflows into key sectors, including monetary and banking markets, capital markets, and derivatives markets.
