HCMC signs partnership deals with World Economic Forum, blockchain giant Binance

Ho Chi Minh City on Wednesday issued a joint statement with the World Economic Forum (WEF) on an initiative to promote smart manufacturing and responsible industrial transformation in Vietnam, while signing an MoU with Binance to promote the development of the country's International Financial Center.

The HCMC-WEF announcement, released at the Autumn Economic Forum 2025, aims to align Vietnam with global innovation networks and position HCMC as a partner in co-developing WEF-led initiatives.

Accordingly, both sides will collaborate to advance smart manufacturing in the metropolis and nationwide, contributing to the development of the global Lighthouse Operating System (Lighthouse OS).

The initiative will support Vietnam in building a smart manufacturing strategy and implementing pilot programs in HCMC through practical tools, capacity-building activities, and knowledge-sharing.

HCMC’s Center for the Fourth Industrial Revolution (HCMC C4IR) and WEF’s Advanced Manufacturing and Supply Chain Center (AMSC) will jointly plan and execute Lighthouse OS activities in Vietnam.

Officials said the joint statement underscores Vietnam and HCMC’s rising role in international cooperation frameworks led by WEF.

Earlier on the same day, speaking at the forum Pham Binh An, deputy director of the HCMC Institute for Development Studies, said the city has begun implementing six priority areas related to green mobility, renewable energy, circular industry, smart governance and digital infrastructure. The city is developing high-tech industrial parks, a smart urban operations center, and real-time environmental monitoring systems.

Also on Wednesday within the Autumn Economic Forum framework, HCMC inked an MoU with the world's leading blockchain group Binance to develop the International Financial Center in the city.

Vietnam is preparing to develop an international financial center, located in both HCMC and central region hub Danang.

The signing ceremony was witnessed by Prime Minister Pham Minh Chinh, Deputy Prime Minister Bui Thanh Son, HCMC Party chief Tran Luu Quang, HCMC Chairman Nguyen Van Duoc, Binance's chief compliance officer Noah Perlman, and representatives of international investment funds and U.S. businesses interested in investment opportunities at the center.

Binance is the world’s largest cryptocurrency exchange by trading volume, serving more than 270 million registered users across 180 countries.

Under the MoU, both sides will cooperate across four main areas: attracting investors and financial institutions to operate in the International Financial Center in HCMC; sharing experience on legal frameworks for digital assets, blockchain technology, and payment infrastructure; proposing and testing sandbox mechanisms for digital-asset projects; and supporting an ecosystem of digital, blockchain and fintech startups and SMEs.

The two sides will also exchange expertise and provide advisory support on digital assets and blockchain technology in line with Vietnamese law, international agreements, and global standards. Binance and the city will jointly organize training programs for regulators, personnel exchanges, and expert workshops.

Both will explore cooperation in developing digital-asset payment infrastructure, AI-based solutions, and blockchain applications, as well as connecting HCMC with global financial institutions and investors. Binance may also co-host promotional events in HCMC and other relevant jurisdictions.

A joint working group will be established to draft action plans, monitor progress and address implementation challenges. It will meet at least twice a year. Once the Executive Authority for the HCMC International Financial Center is formally established, the MoU will be transferred to the new body.