Ho Chi Minh City's international financial centre (VIFC-HCMC) plans to issue rules in November for accepting investment funds, sorted into three tiers similar to Singapore, Dubai and Hong Kong. Deputy Chairman Trương Minh Huy Vũ said the centre has already admitted 10 founding members, set up as holding companies, and the draft sets three license levels for asset managers. Dubai and Singapore both group funds by investor type, with oversight requirements that ease for more sophisticated investors. Marc Knapper, an advisory board member, said investors should show real commitment, high quality and a partnership mindset, and that Vietnam-based institutions need a dedicated local presence rather than moving headquarters. CEO Richard D. McClellan said about 30 rulebooks will follow, starting with banking and asset management, and the city rose 17 places to 67th of 117 cities in last month's Z/Yen and CDI global financial centres index.
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Original headline: Trung tâm tài chính TP HCM sẽ phân hạng quỹ đầu tư theo mô hình Singapore, Dubai
Read the original on VnExpress ↗
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