During the 2026 annual general meeting season, seven banks approved plans to establish wholly owned subsidiaries at the Vietnam International Financial Centre (VIFC).
Securities firms are also moving in. Ho Chi Minh City Securities Corporation (HSC) recently approved the creation of a wholly owned single-member limited liability company with charter capital of about VND 800 billion. HSC will join as a member of VIFC-HCMC.
According to HSC’s leadership, a presence at VIFC-HCMC will broaden access to capital flows, international clients, and partners, while benefiting from preferential policies. The move is positioned as a strategic step to strengthen competitiveness and align operations with international standards.
Seven banks approved in principle the establishment of wholly owned subsidiary banks at the Vietnam International Financial Centre (VIFC)
Another securities firm, DNSE Securities, has also approved a plan to establish a securities company at the VIFC in the form of a wholly owned single-member limited liability company.
The company is expected to provide a full suite of securities services, including brokerage, advisory, proprietary trading, underwriting, fund management, and derivatives.
Resolution No. 222/2025/QH15 of the National Assembly sets clear membership requirements for the Vietnam International Financial Centre (VIFC). Foreign and domestic banks must establish a presence in one of the forms outlined in Clause 1, Article 17. In the securities sector, investors must form a limited liability company and secure a license from the State Securities Commission. These entities may operate only within the VIFC and in overseas markets.
Each member will receive a unique identification code, recorded in the VIFC registry, with the same legal validity as a national enterprise registration number.
Membership grants access to special mechanisms and incentives, including preferential rules on foreign exchange, banking, capital mobilization, tax benefits, and green finance development.
Associate Professor Dr. Nguyen Huu Huan, Deputy Head of the VIFC-HCMC Executive Board, noted that fintech, blockchain, and digital finance are drawing strong investment flows into the centre. Emerging models include asset tokenisation, digital asset exchanges, and regulatory sandboxes for testing new financial products.
So far, registered and committed capital for VIFC-HCMC is estimated at $19.1 billion. To fully unlock these inflows, investors remain focused on key operational issues such as currency convertibility, capital repatriation, and the long-term stability of the legal framework.
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