HCM City (VNA) – Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc on November 25 held separate receptions for Stephan Mergenthaler, Managing Director of the World Economic Forum (WEF), and Yang Peng, CEO of the Singapore-based digital payments & fintech group Ant International, on the sidelines of the southern metropolis’ ongoing Autumn Economic Forum 2025.
During his meeting with Mergenthaler, Duoc said the municipal leadership hopes to receive continued support from WEF in refining the model of its forum, elevating its profile, and contributing more practical initiatives to the international community, particularly to the young start-up and innovation ecosystem.
Within the cooperation framework between the southern economic hub and the WEF, the Centre for Fourth Industrial Revolution Centre (C4IR) has been identified as a key platform, with the city’s leaders expecting the centre to continue promoting innovation effectively. On November 26, WEF and its local C4IR are scheduled to announce a new programme of activities and hold further discussions to determine priorities for the next phase.
Mergenthaler expressed his strong impression with the messages delivered in speeches by leaders of the country and city during a youth inspiration talk show within the autumn forum, especially the shift from a competitive mindset to one grounded in sharing, holistic thinking and cooperation.
He noted that although HCM City’s C4IR is the youngest in the WEF’s global network, it has already achieved notable results. Based on his experience with top global tech companies, the WEF Managing Director believed that the city’s strong dedication to innovation would make it a positive driving force in the WEF’s broader ecosystem.
During his working session with Peng, Duoc praised the group’s contributions to digital transformation and the development of Vietnam’s fintech ecosystem.
He affirmed that HCM City stands ready to coordinate in rolling out cooperation initiatives proposed by Ant International, aiming to create breakthroughs in financial technology. As the city accelerates plans to build an international financial centre, its leaders hope that the company will provide strategic advice, policy frameworks, and regulatory recommendations to attract foreign enterprises and strategic investors. They also seek collaboration in training high-quality human resources, developing a fintech hub, and supporting local businesses in adopting cross-border payment solutions.
The city is committed to facilitating Ant International’s expansion, from providing investment incentives in the financial sector and supporting administrative procedures to ensuring technical infrastructure, transparent legal frameworks, and connections with local enterprises, financial institutions and regulatory bodies.
Peng noted that the city possesses many favourable conditions for breakthrough development, particularly its high-quality human resources, rapid adoption of science and technology, and dynamic economic environment.
Stressing the importance of innovation, the CEO said that investing in modern financial infrastructure, promoting e-commerce and expanding online transaction services will play a crucial role in forming an international financial centre in the metropolis.
He also observed that the city is becoming an increasingly attractive destination for global technology and data corporations. Major tech companies are actively seeking investment opportunities in data and digital infrastructure.
Ant International sees HCM City as a strategic “launchpad” for expanding its regional and global footprint. The group is currently developing a research and development centre for digital payment services in the city, has already recruited a team of engineers, and plans to increase investment in the near future. Peng expressed his hope that the local authorities will continue to provide favourable conditions for the project’s long-term development./.
