Ho Chi Minh City, Singapore’s Ant International discuss cooperation on international financial center

The discussion took place on Tuesday between Nguyen Van Duoc, chairman of the Ho Chi Minh City administration, and Peng Yang, CEO of Ant International, on the sidelines of the 2025 Autumn Economic Forum, which opened in the city the same day.

Duoc welcomed the company’s interest in the city’s financial market and said preparations for launching the center by the end of this year are nearing completion.

He noted that nearly 30 major global financial institutions have registered to join its initial phase, reflecting strong international confidence in the project.

He expressed hope that companies involved in the center’s development would establish their headquarters and expand long term operations in the city.

Duoc added that Ant International’s strengths in digital payments and fintech align closely with the vision for a forward looking, innovation driven financial hub.

He also proposed that Ant International offer strategic input, including policy and regulatory recommendations, to help attract foreign businesses and strategic investors.

The city is working with the U.S.-based Nasdaq Stock Exchange, a co-developer of the project, to build an open, modern and interconnected financial ecosystem.

Peng highlighted Vietnam’s rapid digital infrastructure growth, which has helped expand e-commerce and cashless payment platforms.

He said this foundation will be vital to the center’s future operations and committed to supporting the project, including plans to relocate a digital payments research and development unit and expand services for small and medium sized enterprises.

He suggested the city should not only learn from global financial center models but also develop its own distinct identity to enhance its appeal.

Peng said Ho Chi Minh City could position itself as a global trade hub by adopting sandbox frameworks and tailored policies to foster innovation in finance and commerce.

Peng also noted the city’s potential as a regional innovation center, particularly in artificial intelligence and digital technologies.

He said major technology companies are considering establishing data centers in Vietnam, which would create strong momentum for the center’s long-term development.

He emphasized Vietnam’s growing role in global supply chains and the strength of its domestic market, adding that Ant International is considering establishing a strategic base in Ho Chi Minh City to support its regional and global operations.

Duoc welcomed the company’s investment vision and reaffirmed that the city remains open to global enterprises, including Ant International, seeking new opportunities.

“We work together, we win together,” he said.