Ho Chi Minh City wants the International Finance Corporation (IFC) to help mobilise international funding for plans to build 700km of metro lines, develop smart transport, establish the Can Gio international transshipment port, develop the Cai Mep Ha logistics hub and build an International Financial Centre.
At a meeting on August 17 with Vikram Kumar, IFC's regional director for infrastructure and natural resources in Asia-Pacific, Nguyen Cong Vinh, vice-chairman of the Ho Chi Minh City People's Committee, praised the long-standing and substantive cooperation between the city and the World Bank Group member.
An overview of the meeting between Ho Chi Minh City Vice Chairman Nguyen Cong Vinh and IFC representatives (Photo: Ho Chi Minh City People's Committee)
Vinh said the city hoped to strengthen cooperation with the IFC in infrastructure development, green finance, smart transport, the marine economy and the development of an International Financial Centre in Ho Chi Minh City.
The city considers the IFC an important partner in mobilising private-sector resources for sustainable development. In the 2025 financial year, the IFC committed USD 71.7 billion globally.
In Vietnam, the IFC has undertaken projects in infrastructure and green finance, including investment in VETC to expand the country's electronic toll collection system. Ho Chi Minh City hopes the IFC can apply its experience and fundraising capacity to projects in the city.
The development of an urban railway network is one of the city's proposed areas of cooperation. Ho Chi Minh City aims to have about 200km of metro lines by 2030, 462km by 2035 and 700km across 19 lines by 2045.
The city wants the IFC to help develop innovative financing mechanisms combining public investment, municipal bonds and private capital, connect the city with international institutional investors and share experience from metro projects elsewhere in the region.
Ho Chi Minh City also asked the IFC to consider investment in smart and digital transport, including an integrated payment system across the public transport network, digital infrastructure for traffic management and multimodal transport solutions.
In the maritime and marine economy sectors, the city hopes the IFC can help attract international capital for the Can Gio international transshipment port, the Cai Mep Ha logistics hub and an integrated smart port system designed around green, digital and sustainable development.
These areas are also aligned with Vietnam's climate finance priorities and its target of achieving net-zero emissions by 2050.
Another key area is cooperation in developing the International Financial Centre in Ho Chi Minh City. The city wants the IFC to play three roles: advising on policy, acting as a catalyst for attracting global private capital, and helping develop green finance and capital markets.
The IFC's involvement is expected not only to provide technical assistance but also to strengthen international credibility and confidence among the global financial community in the city's International Financial Centre.
Kumar said Ho Chi Minh City faced major challenges related to urbanisation, employment, transport infrastructure, the environment and the mobilisation of resources for development.
He said the current period presented an appropriate opportunity for the IFC to work with the city and support its development goals.
The IFC asked Ho Chi Minh City to provide specific details of the sectors and projects it considers priorities so that the two sides can identify practical areas for cooperation.
In infrastructure, the IFC is particularly interested in railway projects, waterway transport, ports and smart transport solutions, with a focus on ensuring that projects are integrated, consistent and aligned with the city's development strategy and the IFC's areas of expertise.
Kumar said the IFC hoped to work with Ho Chi Minh City to study and implement modern and sustainable transport solutions.
He stressed that the city would need to provide specific information on funding requirements, scale and implementation schedules for individual projects before the IFC could develop appropriate support plans.
The IFC also proposed that Ho Chi Minh City organise an investment mobilisation workshop, with the IFC acting as a bridge between the city and potential partners, financial institutions and investors. The event would seek to broaden cooperation and mobilise resources for the city.
Kumar reaffirmed the IFC's commitment to supporting Ho Chi Minh City, including its ambition to develop into a financial centre. In the immediate term, the IFC will focus on helping the city develop and use capital mobilisation instruments effectively, particularly to attract funding for high-priority infrastructure projects.
Vinh said the city also expected the proposed workshop and other networking activities with the IFC to help turn potential areas of cooperation into concrete projects and advance the city's development goals.