The International Financial Center in Ho Chi Minh City will provide capital to support logistics activities, aiming to develop Ho Chi Minh City into a regional and international logistics center.
According to economic experts, to build an international financial center in Ho Chi Minh City, it is necessary to determine if this model is different from financial centers deployed elsewhere or has any outstanding points compared to other financial centers. financial centers operating in the world.
Dr. Le Dat Chi proposed an approach for Ho Chi Minh City to deploy the problem of building an international financial center, which is to define logistics as a field to “absorb” investment capital. Specifically, Cai Mep – Thi Vai seaport cluster (Ba Ria – Vung Tau province) is the largest and most advantageous deep-water port cluster in the country, the gateway to access goods to Ho Chi Minh City and the Economic Zone southern focus. This factor is favorable for the development of an international financial center associated with the output of capital flows towards logistics activities.
“Building Ho Chi Minh City into a financial center is reasonable to finance trade and logistics activities around the Southern Key Economic Zone. Transport infrastructure at this time may not be synchronized and underdeveloped. commensurate, but with a vision of the next 10-15 years for the financial center, the investment is not too difficult, but it is necessary to determine the goals and resources” – Dr. Le Dat Chi stated.
Dr. Le Dat Chi noted that in order to be successful, Ho Chi Minh City needs to determine which fields are most feasible to attract international capital flows. In addition, if you want to pull international capital flows into the financial center, the stock and bond market must really develop. Currently, the capital market of Vietnam is still limited, the stock exchange often malfunctions. If improved, the stock market will help improve the attractiveness of Vietnam in the eyes of foreign investors.
Affirming that the international financial center will create strength and bring many differences to the economic image of Ho Chi Minh City, Mr. Nguyen Ngoc Hoa, Chairman of the Board of Directors of Ho Chi Minh City State Financial Investment Company (HFIC), said This center is born to help solve many large groups of problems. Specifically, creating a push for the money and banking markets; activating long-term capital flows through capital markets; creating an environment for financial technology (Fintech), non-cash payments, e-wallets… to develop. On the other hand, HFIC itself will also have a wider way to raise capital to perform well the tasks assigned by the city.
In addition, Mr. Nguyen Ngoc Hoa said that it is necessary to quickly implement the project of Developing the logistics industry in Ho Chi Minh City until 2025 with an orientation to 2030, which is especially meaningful in the process of economic recovery. city economy. According to him, the disruption of the supply chain during the Covid-19 pandemic is not only revealed in the delivery system during the time of social distancing, but also in logistics, especially the serious shortage of cold storage and cold storage. .
Currently, 70% of the market share of goods in the city is in the traditional distribution channel with 3 wholesale markets and 234 traditional markets. However, only Binh Dien wholesale market has cold storage, mainly serving to store imported seafood, meat and fruit; Traditional channels do not have infrastructure to store goods.
“HFIC has been approved by the city for the areas that are allowed to lend. We are ready to lend for investment in the fields in the permitted list, including investment in infrastructure, health – education, especially lending to develop the logistics industry, the city identifies logistics as an industry that helps overcome the supply chain disruption in the past time. Besides, the city needs to invest in logistics to promote trade and service activities. import and export as well as reactivate the domestic market,” said Mr. Hoa.
Today, February 25, at the People’s Committee of Ho Chi Minh City, Vice Chairman of the People’s Committee of Ho Chi Minh City Phan Thi Thang chaired the conference “Project to develop Ho Chi Minh City into an international financial center”. Within the framework of the workshop, the guests discussed the model of the international financial center in Ho Chi Minh City, the mechanisms and policies for the development of the international financial center, and the action plan (related to the content of the development of the international financial center). digital goods and Fintech). In addition, members of the project’s steering committee and working group will comment on the contents that need to be adjusted and supplemented in the draft project. P.An
Need 95,800 billion VND to develop logistics
Ho Chi Minh City has issued a project to develop the logistics industry in the city until 2025, with an orientation to 2030 with the goal of developing logistics into a spearhead service industry, accounting for an increasing proportion in the GRDP structure. According to the project, the total capital demand for logistics development in the 2020-2030 period in Ho Chi Minh City is about 95,800 billion VND.
Mr. Bui Ta Hoang Vu, Director of Ho Chi Minh City Department of Industry and Trade, said that development orientation, digital transformation, and application of information technology should be considered as an inevitable and priority trend of the logistics industry in the period 2021- 2025. In particular, two strategic tasks need to be carried out: focusing on developing logistics for the e-commerce industry and providing a service chain for import and export goods to the Asian market and transshipment to Cai Mep – Thinh port cluster. Fabric to export to Europe, America.
T&G International Joint Stock Company
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