Ho Chi Minh city to become financial center

(VOVWORLD) - Ho Chi Minh City will focus on artificial intelligence and smart management breakthroughs to become a financial hub in the region and the wider world. The plan was revealed at a conference held in the city on Wednesday by the municipal People’s Committee and the Ho Chi Minh City Finance and Investment State-Owned Company.

Ho Chi Minh city to become financial center - ảnh 1Secretary of Ho Chi Minh City's Party Committee Nguyen Thien Nhan delivers his speech at the conference on making Ho Chi Minh City a regional financial hub held on July 17, 2019. (Photo: VOV) 

According to Secretary of municipal Party Committee Nguyen Thien Nhan, the city is working on an artificial intelligence development program until 2030 and has been engaging in a smart urban scheme over the past two years. It pursues developing financial services using artificial intelligence and big data.

Mr. Nhan said: “First, we will strengthen administrative reform and improve investment environment. Second, we will go a head with smart city plan and artificial intelligence solutions provided by Vietnamese.”

Ho Chi Minh City has recorded a financial growth rate of 8.8% per year on average, contributing 5.7% to the City’s Gross Regional Domestic Product (GRDP) and mobilizing capital of approximately 20 billion USD each year.