At a seminar on February 17, Dr. Can Van Luc - an economic and financial expert, stressed the necessity to imagine what this center will be like first, saying there are some visualizations of a financial center but they are yet to be right.

The financial world is changing very quickly as digital transactions, digital and crypto currencies will be a new financial and monetary trend in the next 5-10 years, Luc said, adding that is why main pillars of the center should be determined and attention paid to developing financial technology companies (Fintech).

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A view of Ho Chi Minh City

According to Dr. Vo Tri Thanh, Director of the Institute of Branding and Competition Strategy, said municipal authorities should choose a new financial center model rather than the traditional one and immediately approach an integrated financial one associated with urbanization and high-quality service.

He also underlined the need to issue a legal document in order to immediately deploy a project of building an international financial center in HCM City in order to realize the idea.         

Recently, the municipal People’s Committee signed a Memorandum of Understanding (MoU) with the Import-Export Pan Pacific Group (IPPG) on research and preparing a project to build an international financial center in the southern hub.

As scheduled, the project will be completed in April.

Source: VNA