Dhaka: Ho Chi Minh City officially launched the International Maritime Finance Ecosystem (IMFE) on May 21 to develop the southern economic hub into a regional maritime finance centre and bring shipping and logistics-related financial transactions back to Vietnam. The initiative, one of the four strategic pillars of the Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC), was introduced at a high-level forum held in the city.

According to Vietnam News Agency, the IMFE aims to leverage Ho Chi Minh City’s strategic location and existing infrastructure to attract regional and international maritime finance activities. The initiative is expected to facilitate the growth of financial services associated with shipping and logistics, providing a boost to the local economy and enhancing the city’s status as a financial hub in the region.

The launch event saw participation from government officials, industry leaders, and financial experts who discussed the potential impact of IMFE on the regional maritime industry. The discussions highlighted the necessity of creating a supportive regulatory framework and fostering partnerships with international financial institutions to ensure the success of the initiative.

The IMFE forms a crucial part of Ho Chi Minh City’s broader strategy to diversify its economy and establish itself as a leading financial centre in Asia. By focusing on maritime finance, the city aims to capitalize on its maritime heritage and position as a gateway to Southeast Asia, attracting investments and expertise to drive growth and innovation in the sector.