May 11, 2020

Fulbright signed a cooperation agreement with HFIC

May 11, 2020

Fulbright University Vietnam and Hochiminh city Finance and Investment State-owned Company (HFIC) signed a cooperation agreement to design a Development Proposal to transform Ho Chi Minh City into a regional and international financial center. This is part of a strategic long-term plan to catalyze Ho Chi Minh City’s future economic breakthrough.

Fulbright University Vietnam and the Ho Chi Minh City Government have been working together in various projects and have thus further reinforced that existing partnership through this new agreement.

This project makes it possible for Fulbright University Vietnam to pool their expertise to conduct series of feasibility studies with recommendations on policy, organizational framework, project management and a specific implementation roadmap. This agreement will enable relevant departments and governmental agencies to collaborate and support the accelerated deployment of the Development Proposal to transform Ho Chi Minh City into a regional and international financial center.

At the signing ceremony, Mr. Nguyen Ngoc Hoa, Chairman of HFIC’s Members’ Council, emphasized that Fulbright University Vietnam was entrusted by the City to lead this critical project because “the Fulbright School enjoys an advantage from years of extensive experience in policy consulting to the Government and localities.” Moreover, the Fulbright School enjoys a unique position in international partnerships with leading academic partners such as Harvard University, which can help put the City in touch with international experts and distinguished institutions.

“Today’s Cooperation Agreement demonstrates our strong commitment to address the grand challenges facing Vietnam in general and the City in particular,” Ms. Dam Bich Thuy, President of Fulbright University Vietnam affirmed.

According to the President of Fulbright University Vietnam, one of the most prominent challenges Vietnam faces is to sustainably develop urban areas – especially mega cities such as Ho Chi Minh City – to their best potential and help them fulfill their leading roles in modernizing Vietnam. Therefore, in the recent years, the Fulbright School of Public Policy and Management has shifted its research focus and policy dialogue to major cities, especially Ho Chi Minh City, with outputs ranging from conducting research to improve the city’s traffic situation and environmental pollution, to designing a proposal to transform the city into an international financial center.

The feasibility study is expected to be completed by the Fulbright School by the end of this year for the consideration of the City People’s Committee.

About the Hochiminh City Finance and Investment State-owned Company (HFIC)

Hochiminh City Finance and Investment State-owned Company (HFIC) was established in 2010 from its predecessor, Hochiminh City Investment Fund for Urban Development Project. HFIC is responsible for mobilizing capital from domestic and foreign organizations and individuals, investing directly and indirectly in key strategic sectors and industries, and creating impetus for the socio-economic development of the City as well as the Southern Key Economic Zone. For more information about HFIC, visit

About Fulbright University Vietnam:

Fulbright University Vietnam is Vietnam’s first independent, not-for-profit, liberal arts university. We are an expanding international team of educational innovators, with deep roots in Vietnam, strong political and financial backing, and connections to educational institutions around the world. We believe in the power of collaboration, transdisciplinary thinking, and risk-taking, and we understand that effective education requires putting students at its center. Globally integrated but deeply embedded in Vietnamese society, Fulbright is dedicated to providing a world-class education, utilizing the latest advancements in institutional design, teaching, learning, technology and other fields to create an institution that is both innovative and globally relevant. Importantly, Fulbright is committed to serving Vietnamese society through rigorous research and responsible civic engagement.

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