Ho Chi Minh City, UOB explore cooperation at int’l financial center

At the meeting, Wee Ee Cheong, CEO of UOB Group, said UOB has invested more than VND20 trillion (US$762 million) in Vietnam.

Through its investment support, UOB has partnered with foreign investors with a combined value of about $6.9 billion, creating jobs across the country.

UOB expressed interest in exploring how to participate in VIFC-HCMC, including identifying financial products and services suitable for the center.

The bank is evaluating potential cooperation areas and hopes to develop initial ideas with stakeholders before moving forward with pilot projects.

Nguyen Van Duoc, chairman of the Ho Chi Minh City People’s Committee, welcomed UOB’s long-term commitment to Vietnam and highlighted the bank’s role in connecting trade, investment, and finance between Vietnam, Singapore, ASEAN, and global markets.

He also welcomed UOB’s plan to expand its presence in Ho Chi Minh City, particularly its new headquarters project, expected to be completed in 2029.

Duoc said the city hopes UOB Plaza will serve not only as the bank’s headquarters but also as a hub linking Vietnam with regional financial and investment networks.

He pledged city support to ensure the project proceeds smoothly and meets quality standards.

The southern metropolis asked UOB to assist VIFC-HCMC in five areas, including attracting international capital flows, developing financial products for regional businesses, co-hosting investment promotion events, building operational and risk management standards, and training high-quality financial professionals.

UOB’s interest in VIFC-HCMC reflects the growing appeal of Ho Chi Minh City as it builds a next-generation international financial center.

The city aims to leverage global capital, technology, and expertise to strengthen Vietnam’s competitiveness in the international financial landscape.