On October 17, Duoc held a working session with Chuck Mack, Senior Vice President, Head of Strategic Operations and Public Policy for Nasdaq. The two parties signed a Memorandum of Understanding (MoU) between Nasdaq and the Ho Chi Minh City Department of Finance, confirming a long-term strategic partnership.

The MoU focuses on several key areas of cooperation, including promoting strategic collaboration in governance, capacity building, financial product development, and cross-listing; exchanging practical experience in developing legal frameworks, operational mechanisms, risk management, and attracting international investment; and supporting technology and technical services for operating the International Financial Centre. It seeks to train high-quality human resources especially in securities, bonds, derivatives, digital assets, and carbon credit markets; and to coordinate to foster connectivity among the financial communities of Vietnam, the United States, and the global market.

Mack praised Ho Chi Minh City’s vision and described this partnership as a strategic step demonstrating the city’s proactive integration into the global financial ecosystem. Nasdaq’s leadership also congratulated Vietnam on its recent upgrade by FTSE Russell to an emerging market status, opening new opportunities for growth.

Duoc told his host that Ho Chi Minh City has been assigned by the government of Vietnam to be a national innovation hub and economic leader, with the International Financial Centre serving as a critical foundation to realise these goals. Nasdaq was chosen as the ideal partner thanks to its global prestige and advanced technology.

The International Financial Centre is expected to become operational by 2026. The designated area includes the entire Saigon ward and parts of Ben Thanh and An Khanh wards, which have already attracted considerable interest from domestic and international investors.

During the trip, Duoc also witnessed the signing of an MoU between the University of Economics Ho Chi Minh City and the New York Financial Institute to implement an internationally standardised practical financial and investment training programme. The goal is to build a team of high-quality financial experts and executives to directly serve the city’s future financial centre.

Lee Tian, Chairman of the Board of Directors and CEO of the New York Financial Institute, remarked that Ho Chi Minh City is one of the fastest-growing cities in Southeast Asia, and that investing in financial education is fundamental to building an effective international financial centre.

Chairman Duoc affirmed that people are the central element, and Ho Chi Minh City therefore needs a generation of financial professionals who deeply understand the domestic market and are capable of operating effectively in a global environment.

He expressed his belief that the cooperation between the two sides holds great significance, and the Institute would join the city in laying the cornerstone for the foundation of the International Financial Centre in future.

Beyond technology and education cooperation, Ho Chi Minh City is also attracting attention from major investors. At a meeting with Jake Siewert, Managing Director and the Head of Global Public Policy and Political Risk at Warburg Pincus, the HCM City leader acknowledged the US firm’s interest in contributing to the development of the International Financial Centre.

Warburg Pincus is currently the largest and most dynamic private equity investor in Vietnam, with about US$2 billion invested since 2013. The firm is advancing partnerships with Becamex Group in areas such as data centres and smart industrial zones.

Duoc proposed that Warburg Pincus further enhance its cooperation, connect international investors, and contribute to the establishment of a financial megacity in Ho Chi Minh City in the near future.

HCM City surpasses Bangkok in Global Financial Centre rankings

VOV.VN - The 38th Global Financial Centres Index (GFCI 38) recently unveiled that Ho Chi Minh City has climbed three notches from March to 95th out of 120 cities worldwide in September, far higher than Bangkok (Thailand) in the 102nd position.