Vietnam’s International Financial Centre (VIFC) is designed as a dual-city financial hub operating across Ho Chi Minh City and Da Nang under unified mechanisms, standards, and regulations. It was established in 2025 and spans 1,200 hectares. The project was officially announced on 21 December 2025 by Prime Minister Phạm Minh Chính. The model is often described as “one centre, two destinations”, meaning investors should track one legal and policy framework while choosing between two locations intended to play complementary roles rather than compete directly.
For foreign investors evaluating the Vietnam international financial centre story, the timeline matters because it shows how quickly the framework moved from resolution to launch. The VIFC was established through Resolution No. 222/2025/QH15 dated 27 June 2025, with implementation through Decree No. 323/2025/ND-CP issued on 18 December 2025. The Da Nang hub (VIFC-DN) was launched on 9 January 2026 and the Ho Chi Minh City hub (VIFC-HCMC) followed on 11 February 2026. Less than a year after the legal framework was set, professional commentary still characterises the initiative as early-stage, but already structured around market entry, compliance, and institutional build-out.
What HCMC and Da Nang Each Offer Under the “One Centre, Two Destinations” Model
Vietnam’s plan formalises a division of labour between the two hubs. A development plan dated 22 July set out that Ho Chi Minh City would serve as the broader financial hub, spanning capital markets, banking, asset management, and green and digital finance. Da Nang, in contrast, is positioned around fintech and innovation, including digital assets, tokenisation, specialised trading platforms, and regulatory sandboxes. Leadership has been named for both hubs: VIFC-HCMC is led by Trương Minh Huy Vũ (head of the Ho Chi Minh City Institute for Development Studies), while VIFC-DN will be led by Hồ Kỳ Minh, vice chairman of the Da Nang People’s Committee.
Early indicators also show different momentum in each city. Six months into the experiment of a two-city hub, VIFC-HCMC had attracted about US$21 billion in capital commitments, and some of Vietnam’s largest lenders were preparing to set up wholly owned units there. Da Nang was still building its pipeline, reporting 12 official members, 11 prospective investors that had submitted expressions of interest, and more than 90 others exploring opportunities. These figures were provided by the executive authorities of the two hubs, giving investors a snapshot of where near-term activity may cluster and where longer-cycle opportunities may emerge.
Investors should also note how the Ho Chi Minh City zone is being defined in real estate and operational terms. One source states VIFC-HCMC spans 898.72 hectares across Thu Thiem, Saigon Ward, Ben Thanh Ward and the Saigon River under Resolution 222, and includes incentives such as corporate income tax (CIT) of 10% for 30 years plus up to 9 years of tax reduction for priority sectors. Another reference notes a temporary headquarters at 8 Nguyễn Huệ Boulevard, with the headquarters planned to relocate to Thủ Thiêm after completion of a VIFC 99-storey tower. Separately, Binance and the Ho Chi Minh City Department of Finance signed an MOU on 26 November 2025 to support the development of the city’s international financial centre.
When was the VIFC established and when did the two hubs launch?
How is the “one centre, two destinations” model supposed to work for investors?
What roles do Ho Chi Minh City and Da Nang play within the VIFC plan?
What early investment signals have been reported for each hub?
What should foreign investors know about Vietnam’s International Financial Centre incentives in HCMC?
