Ho Chi Minh City seeks comprehensive partnership with Nasdaq to build int'l financial center

The proposal was made during a meeting with Nasdaq vice-chairman Robert H. McCooey on Friday morning.

Duoc welcomed McCooey and highlighted the strong and growing Vietnam–U.S. comprehensive strategic partnership, especially in the fields of economics and technology. 

He noted that Nasdaq, along with the New York Stock Exchange, represents the pinnacle of the U.S. financial market.

"Ho Chi Minh City is embarking on the development of Vietnam's international financial center," Duoc said. 

"We aim to establish a comprehensive collaboration with Nasdaq, leveraging its technological strengths, global reach, and reputation for transparency and investor confidence to help mobilize global capital flows."

He also announced that both sides had agreed in principle to sign a memorandum of understanding (MoU) during his upcoming visit to the U.S. from October 15 to 20. 

The MoU, he said, would mark a key milestone toward building the financial center.

McCooey affirmed Nasdaq's commitment to the partnership, emphasizing that the exchange's true strengths lie in technology, human capital, and its role in fostering trust across the global investment community.

He praised Ho Chi Minh City as a young, dynamic metropolis with strong economic potential, saying he hopes its international financial center will become a leading financial and technology hub in the region.

McCooey also stressed the importance of close coordination between Nasdaq, Vietnam's ministries, and city authorities throughout the project's development and operation to attract investors and demonstrate the center's long-term value.

Nasdaq pledged to begin supporting the project through concrete initiatives, starting with the signing of the MoU during Duoc's visit to the U.S. later this month.