Moscow (VNA). With the establishment of the Vietnam International Financial Centre in Ho Chi Minh City and Da Nang, Vietnam hopes to accelerate financial cooperation with international investors by offering special conditions for working with Vietnamese assets, according to an article published by Russia's Geofor Analytics on November 2.
The case for the centre stems from Vietnam's need for capital for infrastructure, energy, industry and the digital economy. Realised foreign direct investment reached 21.07 billion USD in the first nine months of 2026, up 12.1% year on year, while registered investment totalled 50.36 billion USD. The World Bank estimates that Vietnam needs about 25 billion USD a year for sustainable development, with private capital and capital markets expected to provide much of the funding.
The Vietnam International Financial Centre is built as a unified two hub model with complementary mandates. Ho Chi Minh City will focus on capital markets, investment funds, asset management, M&A, trade finance and infrastructure financing. Da Nang will target fintech, digital payments, asset tokenisation and sandbox trials.
The incentive package is intended to attract capital and talent. It includes tax breaks, foreign exchange flexibility and international recruitment. New projects in priority sectors can obtain a 10% corporate income tax rate for 30 years, up to four years of exemption and a 50% tax reduction for up to nine more years. Selected foreign currency transactions will have their own mechanism.
For Russia, Geofor Analytics sees the Vietnam International Financial Centre as a new financial channel alongside trade, energy and industry. Vietnam-Russia trade reached 4.77 billion USD in 2025, up 4%. This creates demand for payments, bank guarantees, letters of credit, transport insurance and trade finance. The centre's financial entities can serve that demand if they overcome legal and commercial obstacles.
Energy will be the next test. Oil and gas projects and the Ninh Thuan 1 nuclear power plant buildout could increase demand for investment financing, risk insurance and working capital for contractors and equipment suppliers. Russian companies working in digital banking, payments, risk management software and cybersecurity could also find partners in Vietnam, especially in Da Nang.
The prospects of the Vietnam International Financial Centre depend on attracting international financial entities, generating a steady flow of deals, building a liquid capital market and providing a reliable dispute settlement mechanism. If these tasks are met, the centre could become an additional channel for Vietnam-Russia cooperation in finance, energy, industry and technology.
Sources: VietnamPlus / Vietnam News Agency
