Ho Chi Minh City is officially entering a new phase in its digital finance development strategy with the launch of the Ho Chi Minh City Digital Asset Investment Fund, aiming to reach a scale of US$1 billion in subsequent phases. This is XEM one of the important steps to position Ho Chi Minh City as a leading international financial center, an on-chain hub, and an innovation center in Southeast Asia.
On the afternoon of February 8th, the Ho Chi Minh City Department of Science and Technology, in collaboration with the Vietnam International Finance Center in Ho Chi Minh City (VIFC-HCMC), organized a conference to promote investment in digital technology infrastructure and large data centers. The event attracted the participation of the Chairman of the Ho Chi Minh City People's Committee, Nguyen Van Duoc, the Vice Chairman of the Ho Chi Minh City People's Committee, Nguyen Manh Cuong, and approximately 150 delegates representing ministries, technology companies, investment funds, and domestic and international financial institutions. The conference was considered an important forum for connecting Capital flows, technologies, and policies to serve the goal of building a smart city and an international financial center in Ho Chi Minh City.
According to VIFC-HCMC representatives, the focus of the next phase will be on investing in modern financial technology infrastructure, with super-scale data centers and digital financial platforms playing a key Vai . Ho Chi Minh City is envisioned to become a "financial transit hub" for global investors, not only attracting Capital into Vietnam but also supporting cross-border Capital flows in a safe, transparent, and efficient manner, while ensuring national monetary security.
A notable point is the development of a centralized hybrid clearing system at VIFC-HCMC, moving towards applying blockchain technology as a layer for transaction reconciliation and settlement. This model allows for shortening settlement times to T+0, suitable for the rapidly developing digital financial products, digital assets, and on-chain transactions worldwide. Simultaneously, VIFC-HCMC is also researching and developing a SuperApp with a single wallet model, enabling clients of member institutions to invest and transfer assets quickly between exchanges and platforms within the international financial center ecosystem.
Within the framework of the conference, a series of important Mnemonics and cooperation agreements were signed, demonstrating the strong determination of both the public and private sectors in building digital financial infrastructure. G42 Group, along with a consortium of domestic investors, signed a long-term framework agreement to develop a large-scale data center system in Vietnam, with a total expected Capital of up to US$2 billion. This is XEM an indispensable infrastructure foundation for future digital financial services, artificial intelligence, and the data economy.
The Ho Chi Minh City Department of Science and Technology also signed a memorandum of Mnemonics with VinaCapital, representing an investor alliance comprising FPT, VinaCapital, and Viet Thai, to develop a large data center connected to a creative, innovative, and technology complex in Ho Chi Minh City. This model aims to create a complete digital technology and finance ecosystem where startups, technology companies, financial institutions, and investment funds can grow together.
In addition, the Ho Chi Minh City High-Tech Park Management Board signed an agreement with VinaCapital to promote data infrastructure projects combined with green energy solutions. Sustainable development is prioritized to meet the operational requirements of next-generation data centers in the context of increasing energy consumption.
Most notably, the International Finance Center in Ho Chi Minh City signed a strategic cooperation agreement with the VinaCapital joint venture and the Global On-Chain Economic Alliance to research, develop, and operate the HCMC Digital Asset Fund. This fund is envisioned as a market-building Capital source, Vai as "seed Capital " to promote the digital asset ecosystem, blockchain, and decentralized finance models within the framework of the international financial center.
According to a Chia roadmap, the HCMC Digital Asset Fund aims to raise and Capital $1 billion USD, focusing on areas such as blockchain infrastructure, transparently managed digital assets, fintech, big data, and on-chain models serving the real economy. In the context of the increasing legalization and strict regulation of digital assets in many countries, Ho Chi Minh City's proactive development of a digital asset fund is XEM as an early and strategic step.
