On October 17, 2025, in New York, representatives of the Ho Chi Minh City Department of Finance and the American stock exchange Nasdaq signed a memorandum of strategic cooperation. The agreement aims to develop Vietnam's financial market and establish an International Financial Center (IFC) in the country's southern metropolis.
- The parties agreed to collaborate in several key areas:
- improving corporate governance and regulation;
- implementing modern technologies and developing cross-listing;
- supporting digital assets, green finance, and professional education.
A separate clause provides for the creation of a working group that will meet at least twice a year to assess progress and agree on a roadmap for project implementation.
Why This Matters
The IFC project in Ho Chi Minh City and Da Nang is part of the Vietnamese government's strategy through 2030. Authorities expect the creation of the center to attract international capital, technology, and expertise, while Nasdaq's involvement will boost investor confidence and market transparency.
For the real estate sector, this agreement could serve as a catalyst for developing new financing instruments—from corporate bonds to real estate funds. The emergence of a financial hub is capable of accelerating the construction of premium projects in the Thu Thiem and Binh Duong areas, where the main IFC infrastructure is planned to be concentrated.
The partnership between Nasdaq and Ho Chi Minh City demonstrates Vietnam's readiness to integrate into the global financial system and gradually transition from a manufacturing economy to the status of a regional financial center in Southeast Asia.