16/07/2025
On July 15, the Ho Chi Minh City Department of Finance officially announced the spatial planning for the International Financial Center, with a total area of up to 793 hectares spread across key areas, including: Ben Thanh Ward, Saigon Ward and Thu Thiem Urban Area. Specifically, Ben Thanh Ward occupies 20 hectares, Saigon Ward occupies 146 hectares, Thu Thiem Urban Area occupies 563 hectares and 64 hectares of Saigon River water surface area. In particular, the 9.2-hectare financial "core" in Thu Thiem (the area opposite District 1 across the river) will be the location of the headquarters of management, supervision and jurisdiction agencies.
- Ben Thanh Ward: 20 ha
- Saigon Ward: 146 ha
- Thu Thiem Urban Area: 563 ha
- Saigon River water surface: 64 ha
Why choose these 3 areas?
Mr. Dinh Khac Huy, Deputy Director of the Department of Finance, said that Saigon and Ben Thanh wards are two “hot spots” for financial and banking activities, foreign exchange transactions, fintech and logistics. Many class A buildings such as Saigon Trade Center, Prudential Headquarters, M Plaza, Techcombank Tower or Saigon Tower are located here, creating ready infrastructure and a vibrant business community.
In addition, the expansion to Thu Thiem will take advantage of the large land fund to form a new economic center, meeting the increasing demand for office space, conference - exhibition centers and international quality financial services.
Strategic location of Thu Thiem Urban Area
Ho Chi Minh City International Financial Center is located on Thu Thiem peninsula, in Thu Duc City, just east of District 1 center, stretching along the North bank of Saigon River. This location brings parallel connectivity:
- To the West, Thu Thiem faces the Saigon River, creating a direct view of Saigon Ward and Ben Thanh Ward (old District 1) and Khanh Hoi Ward (old District 4)
- To the South, the urban area is surrounded by the Red Canal and Ca Tre Canal, connecting with Tan Thuan Ward and Phu Thuan Ward (old District 7)
- To the East and North, the peninsula borders the new urban area of old District 2 (now Thu Duc City) and Thanh My Tay Ward (old Binh Thanh District) via Thu Thiem 1 Bridge.
Thanks to the Thu Thiem 3-4 bridge system that is gradually being deployed and Thu Thiem 5 bridge under construction, the travel time between Thu Thiem and the central districts is only a few minutes, while creating a modern traffic axis, reducing pressure on inner-city roads. Not to mention, Metro Line 1 (Ben Thanh - Suoi Tien) with Ba Son station is less than 500 meters from the western edge of the peninsula, giving residents and businesses more options for quick and time-saving travel. In particular, Thu Thiem is also adjacent to Long Thanh - Dau Giay Expressway and National Highway 51, and has the advantage of convenient waterways with Cat Lai port, international marina, promising to become an important "intersection" for domestic and international trade.
Development orientation and core services
The Ho Chi Minh City International Finance Center is envisioned as a modern “Digital Finance Hub”, focusing on building and operating world-class digital infrastructure. Here, large-scale data centers, electronic trading floors and fintech zones will contribute to promoting the explosion of financial technology innovation. The goal is not only to gather leading fintech companies, but also to be an ideal destination for digital banks and financial startups, thereby forming a closed value chain from product development to service provision.
However, Thu Thiem does not neglect traditional financial services. In addition to digital transactions, the center will include a stock exchange, a government and corporate bond market, and a specialized foreign exchange trading room. Foreign investors and large financial institutions will find here a full range of investment consulting services, independent auditing, high-end asset management (private banking), and international legal support. To attract capital and experts, Ho Chi Minh City has introduced comprehensive incentive policies: corporate income tax exemptions in the first phase, land use rights for up to 70 years, as well as a “one-stop” mechanism for administrative procedures. These incentives are not only attractive to multinational corporations but also encourage long-term investment funds to choose Thu Thiem as their base of operations in Southeast Asia. With a long-term vision, Thu Thiem promises to be not only a place where new financial technology intersects but also a tropical “Wall Street”, connecting Vietnam with global capital flows.
Prioritize land funds and investment resources
To turn the vision into reality, Ho Chi Minh City has given top priority to land in the core financial area, in which the 9.2-hectare area in Thu Thiem is identified as the heart of the entire project. The city has reviewed and restructured land use in existing central areas, gradually converting functions to Class A offices, bank headquarters, stock exchanges and fintech centers. At the same time, the approval and licensing of apartment or resort projects in this area has been tightened, to ensure that the core land fund is always reserved for key financial activities.
In addition, the Ho Chi Minh City government is committed to creating a flexible urban planning mechanism, allowing for increased density and land use coefficient by increasing the maximum height of financial buildings. This mechanism not only helps optimize the efficiency of land use, but also creates conditions for investors to design modern office complexes that meet international standards.
In terms of financial resources, the total estimated investment for the entire center is up to VND 172,000 billion (equivalent to USD 7 billion). In the first phase lasting 2-3 years, about VND 16,000 billion will be mobilized to complete the core infrastructure including 11 land lots in Thu Thiem, of which nearly VND 2,000 billion will be reserved for the construction of headquarters of administrative centers. The remaining budget will focus on upgrading the internal traffic system, establishing a world-class data center and deploying exemplary office buildings, ensuring that all requirements of a leading “Digital Finance Hub” in the region are met.
In short, with a scale of up to 793 hectares, spread across three “hot spots” of Ben Thanh, Saigon and Thu Thiem, along with 64 hectares of Saigon River water surface, the Ho Chi Minh City International Financial Center is a testament to the city’s vision of parallel economic and urban development. The concentration of 9.2 hectares of core land in Thu Thiem, the consolidation of high-class digital infrastructure and the acceptance of special preferential policies have laid a solid foundation for a diverse financial ecosystem, from fintech to international stock, bond and foreign exchange markets. Bridges, urban railways, expressways and deep-water ports have connected Thu Thiem with the old center and neighboring economic zones, opening up opportunities for cooperation, investment and startups for domestic and international investors.
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