Vu revealed this at a working session with Deputy Prime Minister Nguyen Hoa Binh in the city on December 9.
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Chairman of the People's Committee of Ho Chi Minh City Nguyen Van Duoc speaks at the meeting. |
Regarding technical infrastructure and data, Vu said the municipal departments are reviewing the entire system, including digital infrastructure and data centers. The southern hub currently has 16 data centers, with some meeting high standards suitable for the IFC’s operations.
The municipal authority has reported that over 50 investors and organizations are interested in the Ho Chi Minh City-based IFC, spanning four sectors - infrastructure, finance, technology, and digital services.
At the Autumn Economic Forum 2025, the municipal authority formally engaged with 20 investors and identified 10 partners ready to join as founding members of the IFC, he said, noting that 10 investors are set to sign on immediately following the center’s launch.
To ensure effective operation of the center, the municipal People’s Committee suggested relevant ministries and agencies assign suitable experts and personnel to ensure the supervisory body operates effectively from the outset.
Regarding overall progress, Vice Chairman of the Office of the Government Mai Thi Thu Van, said ministries and agencies are finalizing eight decrees guiding the implementation of National Assembly Resolution No. 222 on Vietnam’s IFC, with most content being completed and now under final review.
Van said that with current progress, all documentation is expected to be completed by December 19, paving the way for operational mechanisms, followed by the establishment of the center’s coordination body and management framework.
Deputy PM Binh requested the Ministry of Finance to soon hold a meeting with representatives from the authorities of Ho Chi Minh City and Da Nang to agree on the operational model for the IFC in the cities, and review regulations to enable immediate implementation in the initial phase.
Regarding infrastructure, he emphasized the need for flexible preparation to avoid a “build-and-wait” approach, ensuring the center’s operations are not disrupted during the initial phase.
For operational personnel and financial supervision, Binh said the Government notes limited domestic experience in running an IFC, so foreign personnel can take the lead initially, gradually handing over to local staff as they gain expertise. He also underscored strict compliance with regulations to minimize risks during operations and approvals.
The Government aims to issue relevant decrees by December 15, providing a legal framework and foundation for the center’s operation, he stated.
Source: VNA