According to the report from NLĐO, not only in the banking sector but also at the start of the 2026 annual general meeting season there are seven banks that have approved plans to establish 100% owned subsidiary banks at the Vietnam International Financial Center (VIFC). The banks include Vietcombank, HDBank, SHB, MB, TPBank, LPBank, and Nam A Bank; VietinBank is still in the research phase. Not only banks, many securities firms are also placing themselves at VIFC. Specifically, Ho Chi Minh City Securities Corporation (HSC) recently approved a plan to establish a one-member limited liability company wholly owned by HSC, with charter capital estimated at about VND 800 billion. HSC will participate as a member of the Vietnam International Financial Center in Ho Chi Minh City (VIFC-HCMC). According to HSC leadership, having a presence at VIFC-HCMC will help the company expand access to capital, customers, and international partners; while leveraging incentives and policies aimed at adopting international operating and governance standards. This is seen as a strategic move to enhance competitiveness and the company’s long-term position. Another securities firm, DNSE, has also approved a plan to establish a securities company at VIFC in the form of a one-member LLC. The firm is expected to provide a full range of securities services including brokerage, investment advisory, proprietary trading, underwriting, asset management, and related services, including derivatives. Previously, DNSE invested 1% in Việt Nam Digital Asset Joint Stock Company (VNDA), marking an early step to participate and develop in the digital asset field, anticipating new market trends in the financial sector. Why form a legal entity at VIFC? Based on Resolution No. 222/2025/QH15 of the National Assembly on the Vietnam International Financial Center, the participation conditions for members are specified. Specifically, an foreign bank or domestic commercial bank must establish a presence at the International Financial Center in one of the forms stipulated in Clause 1, Article 17 of the resolution. For the securities sector, an investor must establish a legal entity in the form of a limited liability company, licensed by the State Securities Commission. These entities may only provide services within the scope of the International Financial Center and the foreign market. When becoming a member of VIFC, banks, securities firms, and investors will enjoy many specific mechanisms and policies, such as separate rules on
foreign exchange, banking operations, capital mobilization, tax incentives, and the development of green finance.
