About HFIC

ABOUT HFIC

Accompanying the City, Shaping the Foundations of the Future

The Ho Chi Minh City Finance and Investment State-owned Company (HFIC) is a 100% state-owned enterprise under the People’s Committee of Ho Chi Minh City. HFIC was established through the reorganization of the Ho Chi Minh City Investment Fund for Urban Development (HIFU).

As the core public financial institution of Ho Chi Minh City, HFIC performs the following functions:

Mobilizing capital from both domestic and international sources;
Providing loans and investmenting in key projects for socio-economic infrastructure development;
Receiving and managing entrusted investment and lending activities;
Managing state capital ownership in enterprises.

HFIC has played a pivotal role in advancing key development projects, contributing to shaping the modern urban landscape, enhancing infrastructure quality, and improving the living standards of the City's residents. HFIC’s contributions can be seen across major sectors:

Transport infrastructure: Phu My Bridge, Saigon 2 Bridge, and Hanoi Highway Expansion;
Education & healthcare: Ton Duc Thang University, International University (VNU-HCMC), University of Medicine and Pharmacy Hospital, Cho Ray Hospital, and Children’s Hospital No.1;
Urban development & environment: Sawaco Water Supply System and Tan cang Hiep Phuoc Port.

HFIC currently manages a diversified portfolio of 30 investments with a total value of VND 6,545.9 billion, which includes many leading enterprises such as: CII, Cholimex, HSC, REE, Kenh Dong Water Supply, HDBank, and Eximbank, reflecting its strategic role in both public and private sector development.

In addition to its investment activities, HFIC has been assigned by the Ho Chi Minh City People’s Committee to lead the implementation of the city’s interest rate support policy under Resolution No. 09/2023/NQ-HĐND of the City's People's Council, aiming to reduce financing costs for enterprises and public institutions, and to promote sustainable economic recovery and growth.

Under the guiding principle of “Joining hands to build a prosperous city” HFIC continues to play a leading role in mobilizing, allocating, and managing financial resources that support Ho Chi Minh City’s inclusive and sustainable development.

Vision - Mission - Core Values

Vision

To become a pioneering and strategic public financial institution in mobilizing capital and investing in technical infrastructure and socio-economic infrastructure development for Ho Chi Minh City.

Mission

Preserve, grow, and optimally utilize resources entrusted by the People’s Committee of Ho Chi Minh City, especially those derived from the equitization and restructuring of state-owned enterprises.
Mobilize investment resources to support the City’s sustainable development and enhance the quality of life for its residents.

Core Values

Transparency
Professionalism
Efficiency

Development Orientation

Public Capital – Spreading Value – Developing Ho Chi Minh City

HFIC is oriented towards becoming the key public financial institution of Ho Chi Minh City in mobilizing capital for socio-economic infrastructure development. The Company will continuously diversify its capital sources in terms of mobilization methods, instruments, and timeframes, aligning with specific project phases and needs.

Concurrently, HFIC will promote its role as a strategic investor, a pioneering investor, helping to mobilize greater participation from social and private sectors. Capital will be concentrated on the City's key sectors and priority programs. This goes hand-in-hand with fulfilling its responsibilities as the representative of state capital ownership in its affiliated enterprises, thereby preserving and developing public resources to serve the City's sustainable development.

History of formation

Formation and development process

1997 – 2000

2001 – 2005

2006 – 2010

2010 – 2014

2015 – 2019

2020 – 2025

1997 – 2000

The Ho Chi Minh City Urban Development Investment Fund (HIFU) was established under Decision No. 644/TTg dated September 10, 1996, by the Prime Minister, with an initial charter capital of VND 202 billion.
Signed a loan agreement with a credit limit of USD 2.5 million from the Asian Development Bank (ADB).

2001 – 2005

By 2005, HFIC’s charter capital reached VND 1,288 billion.

Key highlights:

Contributed capital to establish CII, now one of the leading infrastructure development companies in Southern Vietnam.
Took over State capital management in four major joint-stock companies listed on the stock market: REE, TDH, CIDICO, and BCCI.
Co-founded HSC (Ho Chi Minh City Securities Corporation) with foreign partners – now among the top three securities companies in Vietnam.

Typical investment and lending projects: Investment in 1,300 public buses, and development of water supply networks in Western HCMC, among others…

2006 – 2010

By 2009, HIFU’s charter capital had increased to VND 2,155 billion

Key highlights:

Signed loan agreements with the French Development Agency (AFD) for credit lines of EUR 30 million (2006) and EUR 20 million (2009).
Signed a USD 50 million loan agreement with the World Bank (WB).

Typical investment and lending projects: Phu My Bridge (the largest cable-stayed bridge in HCMC connecting District 2 and District 7), Hanoi Highway Expansion – Phase 1, Leachate Treatment Plant, and Landfill No. 2 Project in the Northwest Solid Waste Treatment Complex.

2010 – 2014

By 2010, HFIC’s charter capital reached VND 1,288 billion.

Based on the reorganization of HIFU, the Ho Chi Minh City Finance and Investment State-Owned Company (HFIC) was officially established under Decision No. 576/QĐ-UBND dated February 2, 2010, by the People’s Committee of Ho Chi Minh City, with an additional mandate to act as the State capital representative in enterprises assigned by the City.

Charter capital reached VND 5,983 billion.

Took over six 100% State-owned single-member limited liability companies, with a total charter capital of VND 2,107 billion.

Typical investment and lending projects: Saigon 2 Bridge, Subproject 2 – Hanoi Highway BOT Expansion Project (the first project in HCMC funded by the Local Development Investment Fund Project – LDIFP), and Hiep Phuoc Port Project.

2015 – 2019

By 2019, HFIC’s charter capital reached VND 7,612 billion.

Key highlights:

Took over two additional 100% State-owned companies and successfully equitized 6/6 subsidiaries under the approved plan.
Signed a comprehensive cooperation agreement with IPC and a coordination framework with the Department of Transport.

Typical investment and lending programs: Loans for the construction of public preschools across HCMC, and the clean water supply development program.

2020 – 2025

As of 2025, HFIC’s charter capital remains at VND 7,612 billion.

Key highlights:

In coordination with the Department of Finance, successfully mobilized VND 2,000 billion in long-term capital with maturities from 20 to 30 years.
Assigned to lead and coordinate the development of major strategic programs and projects of Ho Chi Minh City, notably: Resolution No. 98/2023/QH15 of the National Assembly on piloting special mechanisms and policies for the city’s development; The Project for Establishing Vietnam’s International Financial Center in HCMC; The Urban Railway System Development Project.
Initiated and implemented the HFIC Tower Project (33–39 Pasteur Street) – a commercial and office complex oriented toward becoming the City’s Fintech and Digital Finance Hub.
Signed cooperation agreements with Vietnam National University – HCMC, Sawaco, Citenco, Saigon Co.op, and Sai Gon Giai Phong Newspaper.

Typical investment and lending projects: Loan programs for Sawaco’s main and secondary pipeline systems, Landfill No. 3 Project (Citenco), Vinh Loc Industrial Park Wastewater Treatment System, Sai Gon Practical High School – Zone B Project, and University of Management and Technology (Phase 1).