HCMC APPROVES RESOLUTION ON ISSUING MUNICIPAL AND PROJECT BONDS AT THE INTERNATIONAL FINANCIAL CENTER

On October 30, 2026, at its sixth session, the 11th Ho Chi Minh City People's Council approved a resolution on issuing municipal and project bonds at the Viet Nam International Financial Center in Ho Chi Minh City (VIFC-HCMC). This is an important step forward in putting the capital-raising mechanism under the Urban Development Law into action, opening up medium and long-term funding channels for the city's key infrastructure projects.

Sharing his thoughts on the significance of the resolution, Assoc. Prof. Dr. Nguyen Huu Huan, Vice Chairman of the VIFC-HCMC Management Board, highlighted the role of the first issuance in building the city's reputation in international capital markets, setting the stage for future issuances, and opening up opportunities for businesses to issue bonds at VIFC.

To carry out the resolution, the city plans to select a few pioneer projects for the initial stage. VIFC-HCMC is working with city departments to build a list of feasible projects, aiming to connect capital-raising needs with international investors and VIFC members, and step by step develop the international bond market in HCMC. For the 2026–2030 period, HCMC's public investment demand is estimated at around VND 3.1 quadrillion, while the local budget is only expected to meet about 31%. Given the massive capital needs for key infrastructure projects, issuing bonds at the international financial center is expected to widen medium and long-term fundraising channels for the city.

The resolution states that the issuance must be open and transparent, funds must be used for the right purposes, and payment obligations must be fully met. Infrastructure projects linked to green, social, and sustainable standards will get priority. In the early stage, the city plans to pick a few pioneer projects to issue bonds at VIFC. VIFC-HCMC is working with local units to build a list of feasible projects targeting international investors and VIFC members.

This is an important step to grow the international bond market—one of the four strategic product pillars of VIFC-HCMC—while also boosting specialized financial services like issuance advisory, capital arranging, and credit rating.