Ashley Zhang, Asia-Pacific regional representative of the Institute of International Finance (IIF), says Ho Chi Minh City's international financial centre (VIFC-HCMC) should play a complementary, connecting role in the regional ecosystem rather than compete directly with Singapore or Hong Kong. She says an IFC needs three core functions: attracting global capital, connecting the region, and filling currency gaps, and that VIFC should also support multi-currency structures, payment infrastructure and risk insurance. Experts say Vietnam has the prospects to attract capital through this model but must improve governance and corporate information disclosure, and resolve issues such as capital controls and registration of foreign investors' ownership. VIFC-HCMC has 10 members and plans to issue procedures to receive investment funds this month, after HCMC rose 17 places to 67th in the Global Financial Centres ranking by Z/Yen Partners and CDI. Deputy Finance Minister Le Tan Can said Vietnam is building a new-generation ecosystem and urged financial institutions and funds to help develop the international financial centre.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: 'Trung tâm tài chính TP HCM không nên cạnh tranh trực tiếp với Singapore'
Read the original on VnExpress ↗
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Related tickers and likely impact
VNINDEX
• NeutralRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 11/03/2026 | 1,699.62 |
| Change that session | -0.65% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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