Ho Chi Minh city to become financial center

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.

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.

Source: VOV5