VIFC-HCMC targeted to begin actual transactions in November 2026
Deputy PM Nguyen Van Thang urged VIFC - HCMC to start actual transactions in Nov 2026, assigning ministries to resolve key legal, banking, and tax bottlenecks to attract foreign capital and ensure real market operations.
Deputy Prime Minister Nguyen Van Thang has urged the Vietnam International Financial Center in Ho Chi Minh City (VIFC - HCMC) to begin actual transactions in November 2026, assigning ministries to resolve legal, banking, and tax bottlenecks. During a working session on October 28, representatives from various sectors raised several obstacles hindering transaction execution and foreign capital attraction.
The center currently lacks member banks, while businesses require accounts to receive, transfer, and settle funds. Various proposals were made to clear these bottlenecks, including allowing businesses to use Direct Investment Capital Accounts (DICA) at banks outside the center during the transition period and refining regulations concerning investment funds, asset transfers, and tax policies.
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