Ho Chi Minh City, Kazakhstan promote cooperation in developing Viet Nam Int’l Financial Centre
“Economically, Ho Chi Minh City accounts for around 23% of Viet Nam’s GDP and serves as a key centre for major industries such as finance, technology, and services. It accommodates many banks, securities firms, and financial institutions, forming a solid foundation for the development of an international financial centre. Moreover, the city’s pace of digital transformation in fintech ranks among the highest in the region and globally, while its transaction costs remain lower than those of many other financial centres.”
“Kazakhstani Ambassador to Viet Nam Kanat Tumysh noted that Viet Nam is a country with a strong high-tech industry and rapidly growing manufacturing and export sectors. However, bilateral trade currently stands at just under 1 billion USD per year, which is still modest compared to the vast potential of both nations.”
“The diplomat proposed that beyond trade and investment promotion, Kazakhstan and Viet Nam should focus on enhancing financial cooperation, particularly between Ho Chi Minh City and the AIFC [Astana International Financial Centre], which is a leading financial hub in Eastern Europe and Central Asia attracting over 16.9 billion USD in investment, creating nearly 10,000 jobs, and home to more than 4,000 companies from 80 countries.”