Financial center project in Thu Thiem attracts investors

The domestic firms are Refrigeration Electric Engineering Corporation, HCMC Finance and Investment Company (HFIC) and a consortium of 216 Corporation and Van Phu Invest Company. The foreign firms are a consortium of Australia-based Sakkara and Singapore-based GIC and the United States’ Steelman Partners.

The project is one of the 210 projects that the city has prioritized for investment this year.

The Thu Thiem New Urban Area Management Board is coordinating with the relevant departments and agencies to choose investors for the financial center complex on two land lots at Thu Thiem Peninsula’s functional zone No. 1. The two land lots have been cleared to make room for the project.

The financial center complex is designed to cover nearly 14,500 square meters and will include two towers with 20-50 floors each. The towers are expected to be built between 2019 and 2021.

Meanwhile, HFIC has worked with Fulbright University Vietnam and the relevant departments and agencies to draw up a plan to develop the city into an international financial center. HFIC is consulting with the relevant units to take the plan forward.

According to experts, HCMC is a financial hub of the country, but it has yet to develop into an international hub.

In addition to developing a financial center, the city should enhance the application of technology to its financial services, build more seaports and make conditions favorable for large financial groups.