Saigon Marina IFC tower opens in bid to build int’l financial hub
Saigon Marina IFC Tower, the first facility in the HCM City IFC zone, will serve as a hub for multinationals, financial institutions, consulates, and local enterprises.
The launch ceremony of the Saigon Marina International Financial Centre (Saigon Marina IFC) Tower on August 19 (Photo: VNA)
HCM City (VNA)🌄 – Ho Chi Minh City took a major step toward establishing itself as a global financial hub with the opening of the Saigon Marina International Financial Centre (Saigon Marina IFC) Tower on August 19, one of the 80 landmark projects launched to celebrate Vietnam’s 80th National Day (September 2).
In his speech, Deputy Prime Minister Ho Duc Phoc described the tower as a convergence point for capital, technology, and talent, positioning it as a home to multinational corporations, global financial institutions, and springboard for startups and innovation.
“Today’s milestone represents an important leap toward transforming HCM City into an international financial centre, a critical growth driver for Vietnam’s economy in its next phase,” he said, calling the project a vivid testament to the Party, State and Government’s resolve and the business community’s creativity and dedication.
Deputy Prime Minister Ho Duc Phoc speaks at the event. (Photo: VNA)
Nguyen Van Dung, Vice Chairman of the municipal People’s Committee, said Saigon Marina IFC Tower, the first facility in the HCM City IFC zone, will serve as a hub for multinationals, financial institutions, consulates, and local enterprises. He called it a new symbol of prosperity for the city, shaping a modern “live-work-play” ecosystem. The tower, he added, is a symbol of Vietnam in the era of green growth, digitalisation, and integration.
Nguyen Thi Phuong Thao, standing Vice Chairwoman of HDBank and representative of the project’s investor, underscored private enterprises' role under the Politburo’s Resolution 68, pointing to more than 250 projects inaugurated or starting construction nationwide on the same day as proof of Vietnam’s unity, ambition, and resilience.
Developed and operated with advisory support from Singapore’s Keppel Group, Saigon Marina IFC ranks among Vietnam’s top three tallest buildings. Spanning over 106,000 sq.m across 55 above-ground floors and five basement levels, it allocates 87,000 sq.m to Grade A office space, and the rest to a shopping mall, restaurants, meeting halls, and premium amenities.
Built to LEED Gold standards, the tower incorporates energy-efficient systems and dedicates over 30% of its footprint to green spaces. An LED façade capable of artistic light displays, coupled with a musical fountain plaza, is intended to make the building a “beacon” of modern urban economy. It is also Vietnam’s first project to adopt a transit-oriented development model, with direct access to Ba Son Station on Metro Line No.1.
Under the National Assembly’s Resolution 222/2025/QH15, the international financial centre in HCM City is a long-term strategy to channel regional capital flows into Vietnam. It envisions a cluster of major financial institutions, investment funds, and banks, supported by fintech sandbox, international commodity and derivatives exchanges, and logistics and port services. Saigon Marina IFC is the first anchor project, offering global-standard infrastructure to financial institutions, businesses, and investors worldwide./.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Vietnam’s roadmap to establishing an international financial centre (IFC) hinges not only on planning, infrastructure and human capital, but above all, on attracting strategic investors, according to experts.
The resolution also aims to create an attractive environment for investment in the financial service sector to promote investment attraction and the free movement of international capital between the International Financial Centre and the world; develop the stock and insurance markets, banking activities, fintech, digital assets, commodities, and e-commerce in Vietnam and integrate with international markets.
International trade is no longer merely an exchange of goods but a strategic lever enabling Vietnamese enterprises to enhance capacity, secure partnerships, and expand globally.
In the first eight months of 2025, Vietnam’s total trade value reached nearly 600 billion USD, up 16.3% year on year. Of this, exports stood at 306 billion USD, a 14.8% increase, already surpassing the full-year target.
Vietnam aims to maintain macroeconomic stability, control inflation below the target, achieve growth of 8.3-8.5%, ensure major economic balances, surpass budget revenue estimates by 25%, and control public debt, government debt, foreign debt, and budget deficit.
Reaffirming Vietnam’s commitment to foreign investors, Finance Minister Nguyen Van Thang said government policies always aim to ensure transparency, fairness and a mutually beneficial environment that promotes innovation and safeguards investor rights, making Vietnam a sustainable and long-term investment destination.
The State Bank of Vietnam must launch an official gold price information portal, study the establishment of gold exchanges, and issue guiding documents to implement the Government’s decree on the management of gold trading activities.
According to the World Bank Group, Vietnam will need approximately 368 billion USD in investment for climate adaptation and carbon reduction projects by 2040. Yet, as of the end of 2024, green credit accounted for just 4.5% of the country’s total outstanding loans.
Amidst robust digital transformation across all sectors, the food processing industry has tapped such digital technologies as Internet of Things, AI, blockchain and Big Data to optimise production process, control supply chain, and meet consumers’ demands.
The French side pledged to share technical guidelines and safety standards, with the Institute for Radiological Protection and Nuclear Safety (IRSN) ready to provide training for Vietnamese specialists.
Vietnam now has more than 940,000 private enterprises and over 5 million household businesses, contributing approximately 50% of GDP, over 30% of state budget revenue, and employing 82% of the national workforce.
Businesses underlined the need for expanding green credit and non-collateral concessional loans for circular agriculture projects, facilitating their participation in national key projects, and fostering alliances among Vietnamese enterprises as well as cooperation with regional partners.
State-owned Vietcombank currently leads the banking system with total assets exceeding 85 billion USD and a market capitalisation of over 20 billion USD, while maintaining strong financial safety indicators. Its non-performing loan ratio remains the lowest in the sector at 0.97%.
Malaysia is Vietnam’s third-largest trading partner in ASEAN and ninth globally, as well as a key investor with 731 valid projects worth about 13 billion USD. Bilateral trade reached 9.23 billion USD by July 2025, up 8% year-on-year, nearing the 18 billion USD target.
Finance Minister Nguyen Van Thang noted that free trade agreements such as the UK–Vietnam Free Trade Agreement (UKVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have expanded opportunities for businesses in both countries.
Lotte Shopping currently operates three department stores and 16 supermarkets in Vietnam, alongside one department store and 48 supermarkets in Indonesia. The company highlighted the success of its flagship Lotte Mall West Lake Hanoi, which opened in 2023, describing it as a model for future premium complexes. Kim said the group intends to replicate this concept in other major Vietnamese cities.
In the EU, illegal, unreported and unregulated (IUU) fishing remains a major obstacle to Vietnam's efforts to have the European Commission (EC)'s “yellow card" lifted. The bloc’s dense and constantly changing regulatory framework also affects farming zones, production processes and quality standards.
The Vietnam Private Sector Forum 2025 (VPSF 2025) opened in Hanoi on September 15, packing in over 1,500 entrepreneurs, economists, and international organisations across four thematic sessions to reshape Vietnam’s private sector landscape.
The economic picture in the first eight months of 2025, whether viewed from the overall economy or from a local perspective, is very positive. Major economic centres have recorded extremely impressive growth in the period, the Ministry of Finance stated in its recent report on the socio-economic situation, sent to the Government.
Cross-border e-commerce is set to become one of the strategic pillars in Vietnam’s national master plan for e-commerce development during 2026–2030, as the country looks to build a sustainable digital export ecosystem and enhance global competitiveness for its businesses.
