Vietnam to Establish Financial Centre: AIFC Shares Expertise on Investor Climate and Capital Market Development
On July 14-15, 2025, the delegation of the Astana International Financial Centre (AIFC) held a series of high-level events in Ho Chi Minh City, including a bilateral meeting with Mr. Nguyen Van Duoc, Chairman of the People’s Committee of Ho Chi Minh City, as well as a technical workshop and a business roundtable aimed at sharing Kazakhstan’s expertise in building and developing a financial centre.
Vietnam has set an ambitious goal to establish an international financial centre across Ho Chi Minh City and Da Nang. The envisioned hub aims to attract foreign investment, boost the overall development of the financial sector, and strengthen the country’s integration with global financial markets. Although the centre will span two cities, it will operate under a unified framework for governance, operations, and oversight, while offering financial products that build on the distinct strengths of each location. In this context, learning from successful international models, including that of Kazakhstan, is of particular importance.
On July 14, a dedicated workshop was held, focusing on key aspects of governance, institutional setup, regulation, and dispute resolution within a financial centre. AIFC experts presented an overview of the legal environment and shared practical case studies related to the creation of financial infrastructure – including regulatory frameworks, capital markets, and the operation of the AIFC Court and International Arbitration Centre.
On July 15, Renat Bekturov, Governor of the AIFC, met with Nguyen Van Duoc, Chairman of the People’s Committee of Ho Chi Minh City. The two sides discussed opportunities for cooperation and the development of a new international financial hub in Vietnam’s economic capital.
The business agenda culminated in a roundtable co-organized by the AIFC and the People’s Committee of Ho Chi Minh City.
H.E. Kanat Tumysh, Ambassador Extraordinary and Plenipotentiary of Kazakhstan to Vietnam, stated: “I would like to highlight the significant outcomes of the state visit by General Secretary of the Communist Party of Vietnam, Mr. To Lam, to Kazakhstan in May 2025. These outcomes reflect the growing strength of Kazakhstan-Vietnam bilateral relations. Several important agreements were signed to bolster ties between our two countries. Today’s event is a testament to the positive momentum that high-level exchanges have brought to our bilateral and multilateral cooperation.”
Renat Bekturov, Governor of the AIFC, commented: “An increasing number of countries are now pursuing the development of financial centres as strategic platforms to attract investment, foster innovation, and strengthen their role in the global financial landscape. We extend our best wishes to Vietnam in its efforts to promote sustainable and forward-looking finance in the region and remain open to sharing our expertise and experience in building a financial centre.”
In his opening remarks, Nguyen Loc Ha, Vice Chairman of the Ho Chi Minh City People’s Committee, emphasized that the event is a clear testament to the ever-expanding relationship of friendship and cooperation between Ho Chi Minh City and the Astana International Financial Centre (AIFC) in particular, and Kazakhstan in general – especially in the field of finance. The parties are able to exchange ideas, align visions, and work toward deepening cooperation with practical and tangible results.
Through this event, the city hopes to listen, exchange, and learn valuable insights and experiences from the AIFC and Kazakhstan to realize its vision of building the Vietnam International Financial Centre in Ho Chi Minh City in the near future. Strategically located in the heart of Southeast Asia, this city enjoys seamless connectivity with major financial centres in the region, providing favorable conditions for international trade and capital flows. The city’s transportation system, including seaports and an international airport, plays a vital role in ensuring the smooth flow of goods and financial services across borders.
Economically, Ho Chi Minh City accounts for approximately 23% of Vietnam’s national GDP and serves as a hub for key sectors such as finance, technology, and services. It is also home to numerous banks, securities firms, and financial institutions – forming a solid foundation for the development of an international financial centre. The city’s rate of digital transformation in the financial technology sector is among the highest in the region and the world, while its transaction costs remain lower than those of many global financial centres.
As planned, the Ho Chi Minh City branch will focus on capital markets, banking, foreign exchange, fintech sandboxes, and financial innovation, as well as the creation of specialised trading platforms. Meanwhile, Da Nang will serve as a testing ground for regulated digital assets and currencies, and will work to attract investment funds, remittance companies, and small and mid-sized asset management firms.
During the session, Nguyen Hong Van, Deputy General Director of Ho Chi Minh City Finance and Investment State-owned Company, presented a master plan for the development of the Ho Chi Minh City International Financial Centre. After that, Dinh Khac Huy, Vice Director of Department of Finance of Ho Chi Minh City, outlined plans for the spatial development of future IFC, and Le Thanh Hai, Director of the Centre for Economic Consulting and Application, under the Ho Chi Minh City Institute for Development Studies, presented human resource development needs to support the initiative.
In turn, Bakhtiyar Tleubekov, Chairman of the AIFC Authority, shared Kazakhstan’s journey and achievements in establishing a regional hub for finance and innovation. Zharas Mussabekov, Chief Financial Officer of the Astana International Exchange (AIX), provided insights into the operations of the AIFC’s stock exchange.
Since its inception in 2018, the AIFC platform has facilitated the attraction of over USD 16.9 billion in investment into Kazakhstan’s economy. Today, it is home to more than 4,000 companies from 85 countries.
Kazakhstan and Vietnam continue to strengthen their trade and economic partnership both bilaterally and through multilateral frameworks, including the Free Trade Agreement with the Eurasian Economic Union. Bilateral trade reached USD 1 billion in 2024, and has maintained positive momentum in 2025, amounting to USD 357 million in the first five months of the year alone. Currently, 3 Vietnamese companies are registered within the AIFC, operating in sectors such as aviation investment, software development, and construction.
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The Astana International Financial Centre (AIFC) is a leading financial hub in the Eastern Europe and Central Asia region, designed to connect global capital with the vast opportunities of emerging markets. Positioned at the crossroads of Europe and Asia, the AIFC combines international best practices with innovative approaches to create a world-class platform for investment, business, and financial services. www.aifc.kz
