Vietnam financial centre says its first 10 members to mobilise $2.7 billion

HANOI, Oct 28 : Vietnam's International Financial Center said on Wednesday its first 10 members are expected to mobilise and invest about $2.7 billion in the country's business hub Ho Chi Minh City through 2027.

Among the initial 10 members are holding companies linked to Keppel Asset Management, AG&P LNG and VinaCapital International Partners, the centre said in a statement.

• Those members are expected to invest about $2.7 billion and have disclosed commitments to mobilise more than $2 billion for infrastructure, energy, data centres, education and renewable energy projects, it said

• In addition, Keppel is exploring co-investment platforms with global partners that could mobilise up to $1 billion more, it said

• The government is focusing on international financial centres in Ho Chi Minh City and Danang as part of a broader strategy to attract foreign investment, deepen capital markets and strengthen Vietnam's role in regional finance

• Under legislation approved last year, financial centre members will be allowed to access international financing and conduct transactions in foreign currencies

• The centres will operate under international accounting and financial standards, including capital adequacy and liquidity requirements applicable to both domestic and foreign-owned banks