Vietnam financial center eyes November 2026 launch

Vietnam is preparing to launch the first transactions at its International Financial Center in November 2026, with authorities reviewing eligible products and removing regulatory bottlenecks.

Deputy Prime Minister Nguyen Van Thang has ordered a review of products eligible for trading at Vietnam's International Financial Center and the removal of regulatory bottlenecks so initial transactions can begin as planned.

The center is preparing for its first transactions, with the Executive Council targeting November 2026. The immediate aim is to connect capital providers with businesses seeking medium- and long-term funding.

Mr. Thang, who chairs the center's Executive Council, issued the directive at the Council's fourth meeting on October 22.

Transactions ready to launch prioritized

Authorities are reviewing which products should be traded at the center, with priority given to those that meet market demand and can attract international investors.

Mr. Thang said products available at major global financial hubs could be introduced in Vietnam if they suit local conditions. In the near term, the center should focus on deals where capital providers and seekers have already held discussions, particularly those that could channel medium- and long-term funds into the economy.

The Ministry of Finance has worked with commercial banks and financial institutions to identify transactions that can be implemented early. Officials said the focus is on deals that can operate in practice, rather than merely assembling a list of potential products.

New fundraising channels could give businesses greater access to longer-term capital. Their effectiveness, however, will depend on the products offered, participation rules, supervision and how efficiently investors are connected with borrowers.

Rules to be revised to avoid delays

Mr. Thang asked ministries and relevant agencies to review existing decrees and regulations, as well as propose changes when needed, so products are not held up once they are ready for launch. 

As the center moves toward operation, a broader product range must be backed by clear rules on trading conditions, regulatory powers and supervisory responsibilities. Financial institutions and investors need to clarity to assess whether they can participate.

Progress on later products will also depend on how quickly operational rules are completed. Misaligned regulations or unclear responsibilities among agencies could delay trading even when market demand is evident.

HCMC, Da Nang prepare operating conditions

The Ministry of Finance has coordinated with relevant parties to consolidate the Executive Council, draft a development roadmap through 2035 and prepare operating regulations, according to a report presented at the meeting.

In Ho Chi Minh City (HCMC) and Da Nang - the two designated locations - authorities are approving job positions, allocating personnel, upgrading technology infrastructure and promoting investment overseas.

The roadmap provides a long-term framework for a financial eco-system, while the November 2026 target will test the center's immediate readiness. Authorities must prepare the first transaction while building the foundation for stable operations and future expansion.

First deal to test coordination

The first transaction will be more than a milestone. It will test coordination among regulators, financial institutions, investors and businesses seeking capital under the new framework.

Before a deal can be executed, authorities must finalize regulations, choose suitable products and establish effective oversight. Disclosing details such as the participants and transaction value would signal that the center has moved from preparation to actual operation.

Vietnam is accelerating preparations for the center's first transactions by November 2026. Meeting the deadline will depend on the completion of all legal, operational framework, and successfully matching available capital with market demand.

Business & Integration - Vietnamese version: Trung tâm Tài chính quốc tế hướng tới giao dịch đầu tiên trong tháng 11; reported by Bao Ngan