A Quiet But Calculated Move Into Global Finance

At a press event held on December 21, 2025, Vietnam’s top government officials weren’t making grand proclamations. There was no theatrical unveiling or overblown rhetoric. Instead, what came through was clear intent. The country had launched its International Financial Centre project, split between Ho Chi Minh City and Da Nang, with one goal: to link global capital with national development priorities in a disciplined, accessible, and operational way.

This decision wasn’t spontaneous. It came after over three years of policy studies, cross-border advisory consultations, and a serious look at Vietnam’s capital inefficiencies. The move signals a departure from relying on external debt and grants toward building a platform where both Vietnamese and foreign companies can tap into global capital within Vietnamese borders.

Ho Chi Minh City: The Market-Driven Core

Ho Chi Minh City has been chosen as the heartbeat of the proposed Global Financial Centre. The government expects to have a place to set up capital market infrastructure: stock exchanges, bond trading places, financial management firms, and listing mechanisms that lure both local and foreign investors.

The city’s existing status as Vietnam’s economic engine made it a logical choice. The goal is to evolve this market beyond a domestic exchange into a recognised hub where mid-sized Southeast Asian firms might one day choose to go public. It’s a long-term ambition, but one grounded in concrete action. By November 2025, Vietnam’s stock market capitalisation had reached nearly $298 billion across the Ho Chi Minh Stock Exchange and the Hanoi Stock Exchange. The target is to make this capital more accessible and less fragmented.

Da Nang: The Strategic Complement

On the central coast, Da Nang offers a contrast. Not yet known for finance, it’s now positioned as Vietnam’s experimental sandbox. The city will host fintech pilots, green finance instruments, and forward-looking regulatory frameworks. It’s less about scale and more about agility. Officials described this as a “test lab”, where global partners could work on next-gen finance models without the bureaucratic delays typical of emerging markets.

This distinction is crucial. While HCMC builds structure and trust, Da Nang offers experimentation. It allows Vietnam to test global ideas—whether it’s blockchain in remittances, wealth tech apps, or green bond products—in a controlled environment. This dual model gives Vietnam a comparative flexibility that few regional peers have.

Governance as a Competitive Advantage

The launch of the IFC came with the establishment of an Executive Council led by Permanent Deputy Prime Minister Nguyen Hoa Binh. It includes high-level officials from Vietnam’s finance, planning, and justice ministries and the central bank.

Their mission: to resolve investor friction points quickly and decisively. Foreign investors have long cited Vietnam’s bureaucratic inefficiencies as a cost driver. By creating a streamlined governance body for the IFC, the government is signalling it wants to remove such barriers.

One example is the new entry-exit and residence policy for foreigners. Investors and finance professionals engaging with the IFC will now benefit from 10-year visas and extended residency schemes, processed within three working days. The move would be helpful for Vietnam. It would therefore be improved by bringing in more global talent to live and to do business in the country, as opposed to targeting the region where Singapore and Dubai are already competing for skilled financial resources.

Not a Race, But a Redesign

Vietnam is not attempting to dethrone established financial hubs. There’s no intention to become the “next Singapore”. Instead, the goal is more precise: to create a relevant and reliable node in Southeast Asia’s financial ecosystem. That means developing rules, building digital and physical infrastructure, and introducing regulatory predictability—without replicating global models wholesale.

The numbers support the ambition. In 2025, Vietnam attracted $36.6 billion in foreign direct investment, according to year-end projections by the Ministry of Planning and Investment. The country’s GDP growth reached approximately 8.0%, making it one of Vietnam’s strongest economic years in the past decade. Financial services currently contribute between 7% and 9% to national GDP. These figures are not incidental—they reflect an economy moving toward higher-value services.

Building Trust With Markets

The IFC’s long-term viability depends on regulatory clarity and market confidence. Some questions remain—capital account liberalisation, repatriation rules, and investor protection measures have not yet reached global benchmarks. But changes are underway.

Vietnamese regulators are working to adopt transparency and anti-money laundering, which are worldwide standards. They are also discussing creating a regulatory sandbox in Da Nang, which will allow the testing of new fintech tools before they are scaled up. Resolution 222/2025/QH15 and Decree 94/2025/ND-CP endorse this trend.

This will be key to attracting institutional capital. While Vietnam’s talent pool and consumer market are both assets, global funds look for regulatory assurance. The government’s willingness to engage directly with global investors through the IFC’s executive council is a step in that direction.

Notably, in late 2025, FTSE Russell reclassified Vietnam toward emerging market status—a development that adds global legitimacy to Vietnam’s financial ambitions.

What Global Brands Need to Consider

Investors from sectors such as finance, asset management or fintech are looking toward tapping into the pockets of Asia and investing in new opportunities in Vietnam through IFC.

Ho Chi Minh is a perfect place to base oneself in capital-intensive sectors such as real estate, infrastructure, and public services. Da Nang positions itself as an excellent location to base and test digital finance products to match the emerging middle class of Southeast Asia.

These British banks already operate in Vietnam; with the IFC structuring the operational model of these types of associations, they are likely to offer them some scaling. Regional investors from Japan, South Korea, and Singapore have also shown increased interest.

Future-Proofing the Play

The IFC is not fully operational. Its development is staged, with some elements expected to come online gradually through 2027 and beyond. For instance:

• Regulatory sandboxes in Da Nang are expected by 2026
• New listing mechanisms in HCMC may launch by mid-2027
• Policy discussions on capital mobility are likely to intensify by 2028

Vietnam’s approach is measured. Rather than rushing to meet global standards, it is setting its own benchmarks. This could be a competitive advantage in a world where financial hubs face mounting geopolitical and compliance pressures.

A Global Outlook With Local Roots

The IFC launch reveals something deeper about Vietnam’s strategy: the desire to stay rooted in domestic growth while engaging global markets on its own terms. Unlike top-down economic experiments, this initiative is being built with market participation in mind. The rules are evolving, but the intent is clear.

This is a tipping point for brand decision-makers. If they engage with these issues—through partnerships, policy conversations, or experiments—it may accord them the first-mover advantage. Waiting risks stepping into a busier, more closely policed market some years later.

Forward Steps for Business Leaders

Schedule an on-ground assessment of the regulatory environment. Connect with IFC officials early. Develop hiring strategies targeting bilingual talent familiar with regional finance laws. Prepare to localise digital tools for Vietnamese financial behaviours.

The opportunity is there. The blueprint is public. What remains is execution, by both the government and the private sector.