Within the city’s multi-centered urban development strategy, Thu Thiem is positioned as a new growth pole, helping to ease population pressure, infrastructure strain, and functional space constraints in the existing central area.
Thanks to its prime location adjacent to the existing city center, Thu Thiem New Urban Area is expected to attract flows of capital, knowledge, and technology, while setting benchmarks for modern urban development. Notably, the area has been selected as the location for Ho Chi Minh City’s International Financial Center, covering approximately 898 hectares and spanning the administrative boundaries of Saigon Ward, Ben Thanh Ward, and the Thu Thiem New Urban Area in An Khanh Ward.
According to Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc, the International Financial Center in Ho Chi Minh City will not only create additional space for the city’s development but also help elevate Vietnam’s standing on the regional financial map. The International Financial Center is envisioned to evolve under a comprehensive and diversified financial ecosystem model, offering both traditional and specialized financial services.
Its core focus areas include capital mobilization, investment, payment services, issuance and trading of financial instruments, asset management, financial technology (fintech), green finance, and other supporting financial services, thereby generating strong spillover effects for the national financial market.
Modern financial centers today no longer rely solely on geographical advantages or physical infrastructure but are driven primarily by strong foundations in science and technology, innovation and creativity, and high-quality human capital. Therefore, Thu Thiem New Urban Area and the International Financial Center in Ho Chi Minh City are positioned as a creative urban hub, where finance is closely integrated with technology, high-end services, and the knowledge-based economy.
The resolution of the Ho Chi Minh City Party Congress for the 2025–2030 term has set the objective of achieving rapid and sustainable economic growth through the renewal of the growth model and economic restructuring, with science and technology, innovation, and creativity serving as the main driving forces. Key priorities include focused investment in building the International Financial Center and restructuring the economic model toward innovation and creativity, high technology, digital transformation, and green transition.
Director of the Ho Chi Minh City Institute for Urban Planning and Construction, Ngo Anh Vu, assessed that the city’s implementation of Thu Thiem New Urban Area has closely adhered to the approved master plan and aligns well with emerging development needs. He expressed hope that the construction of the International Financial Center, together with metro lines and bridge projects connecting Thu Thiem, would provide a strong catalyst to accelerate investment and fill out development in the area in the coming period.
Mr. Vo Kim Cuong, former Deputy Chief Architect of Ho Chi Minh City, likewise voiced expectations that the International Financial Center and upcoming projects in the Thu Thiem New Urban Area would help transform the urban landscape of Ho Chi Minh City’s central area.
To accelerate progress in Thu Thiem New Urban Area, the Executive Committee of the Ho Chi Minh City Party Committee issued Resolution No. 26-NQ/TU in 2020, calling for concentrated investment to complete the development before 2030. The city has also established a task force to oversee the construction of Thu Thiem New Urban Area, headed by Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc.
Ho Chi Minh City is currently expediting investment procedures for the International Financial Center, advancing plans for metro lines, and promoting key projects such as an ecological park, a central square, and an exhibition center. In addition, the city is intensifying land auctions and bidding processes in the Thu Thiem area as part of efforts to attract investment and accelerate urban development.
Speaking at the third conference of the Executive Committee of the Ho Chi Minh City Party Committee for the 2025–2030 term, Secretary of the municipal Party Committee Tran Luu Quang said that the Standing Committee of the Party Committee of the city has led and directed the Party Committee of the Ho Chi Minh City People’s Committee to instruct the city administration and relevant departments to focus on implementing the necessary tasks. These efforts are aimed at creating development momentum for Thu Thiem New Urban Area to emerge as a new growth pole for the city.
He noted that the area will host the International Financial Center in Ho Chi Minh City, along with numerous key projects and major works designed to support the city’s long-term development.
