UOB on Wednesday (Jul 1) broke ground on an office tower in Ho Chi Minh City, becoming the first foreign bank to set up a dedicated headquarters in the cityβs Vietnam International Financial Centre, or VIFC-HCMC. The US$450 million project underscores UOB's long-term commitment to Vietnam's growing financial sector.
Speaking at the groundbreaking ceremony, UOB's Vietnam country head said the tower will serve as the bank's regional hub, supporting its expansion in Southeast Asia. The 40-storey building is expected to be completed by 2029, according to the bank's statement.
The VIFC-HCMC is a key part of Vietnam's plan to develop Ho Chi Minh City into a regional financial hub. The project has attracted interest from several international financial institutions, with UOB being the first to break ground.
