Vietnam financial centre expects first members to invest about US$2.7 billion
The initial group includes holding companies linked to Keppel Asset Management, AG&P LNG and VinaCapital International Partners.
Vietnam's International Financial Center said on October 28 that it expects its first 10 members to mobilise and invest about US$2.7 billion in Ho Chi Minh City through 2027.
The centre said the members had disclosed commitments to mobilise more than US$2 billion for projects spanning infrastructure, education, data centres, energy and renewable energy. The initial membership includes holding companies associated with Keppel Asset Management, AG&P LNG and VinaCapital International Partners.
Separately, Keppel is considering co-investment platforms alongside global partners, according to the centre. Those platforms could mobilise up to US$1 billion more.
Vietnam's government is prioritising international financial centres in both Danang and Ho Chi Minh City. The initiative forms part of its strategy to draw foreign investment, develop capital markets and expand the country's regional financial role.
Approved legislation will permit members to obtain international financing and transact in foreign currencies. International accounting and financial standards will govern the centres, with capital adequacy and liquidity rules applying to banks under domestic or foreign ownership.
