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Ho Chi Minh City Finance and Investment State Owned Company
Ho Chi Minh City Finance and Investment State Owned Company is a corporate investor based in Ho Chi Minh, Vietnam. It manages approximately $505.46 million in...
Ho Chi Minh City Finance and Investment State Owned Company
Ho Chi Minh City Finance and Investment State Owned Company is a corporate investor based in Ho Chi Minh, Vietnam. It manages approximately $505.46 million in assets across one fund. Its regional focus is Asia.
General information
Firm type
Corporate Investor
Year founded
1996
AUM
Undisclosed
Location
Region
Asia
Country
Vietnam
City
Ho Chi Minh City
Corporate office
Ho Chi Minh City, Vietnam
Principals
Nguyen Ngoc Hoa
Chairman of the Board of Directors
Nguyen Quang Thanh
Deputy General Director
Sector focus
Frequently asked questions
Who runs investment decisions at HFIC?
HFIC operates under the direct authority of the Ho Chi Minh City People's Committee. Chairman Nguyen Ngoc Hoa leads the Board of Directors, with Deputy General Director Nguyen Quang Thanh in a senior executive role. Investment decisions align with municipal development plans and require approval through city governance structures rather than independent investment committees.
What is HFIC's relationship with the Ho Chi Minh City government?
HFIC is a 100% state-owned enterprise under the Ho Chi Minh City People's Committee. The city government is both the sole owner and the ultimate decision-making authority. HFIC functions as the municipality's primary vehicle for financing and managing strategic commercial and infrastructure assets, making its investment mandate inseparable from city fiscal and development policy.
What types of assets does HFIC hold?
HFIC's portfolio spans infrastructure, real estate, financial services, and healthcare. Known holdings include the Hanoi Highway expansion, Tan Cang Hiep Phuoc Port, Sawaco water supply networks, multiple commercial office buildings, a residential development, the University Medical Center Hospital, and a clean-energy bus fleet. The firm also holds a minority stake in Ho Chi Minh City Securities Corporation alongside Dragon Capital.
Does HFIC invest outside Vietnam?
There is no public evidence that HFIC makes direct investments outside Vietnam. The firm's mandate is tied to Ho Chi Minh City's municipal development. Its participation in the UK-Viet Nam HCMC IFC Working Group suggests international engagement around financial-center development policy, but investment activity appears entirely domestic and concentrated in greater HCMC.
How does HFIC fund its investments?
As a state-owned enterprise, HFIC's capital base derives from municipal government allocations, retained earnings from portfolio holdings, and potentially from bond issuance or bank financing backed by city guarantees. Precise funding mechanisms are not publicly detailed, but the structure is typical of Vietnamese municipal investment vehicles that blend government capital with commercial revenue from owned assets.
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