News about financial centers

The VIFC-HCMC expects to issue regulations for accepting investment funds in November, after receiving its first 10 members in holding company form. Deputy Chairman of the HCMC People's Committee Trương Minh Huy Vũ made this announcement at a capital-attraction session of the Autumn Economic Forum 2026 (AEF 2026), saying funds will be divided into 3 tiers, consistent with models in Singapore, Dubai and Hong Kong. About 30 rulebooks will be issued, starting with banking and asset management regulations. Marc Knapper, a VIFC-HCMC advisory board member, identified three requirements for investors: genuine commitment, high quality, and a partnership spirit.

Ho Chi Minh City's international financial centre (VIFC-HCMC) plans to issue rules in November for accepting investment funds, sorted into three tiers similar to Singapore, Dubai and Hong Kong. Deputy Chairman Trương Minh Huy Vũ said the centre has already admitted 10 founding members, set up as holding companies, and the draft sets three license levels for asset managers. Dubai and Singapore both group funds by investor type, with oversight requirements that ease for more sophisticated investors. Marc Knapper, an advisory board member, said investors should show real commitment, high quality and a partnership mindset, and that Vietnam-based institutions need a dedicated local presence rather than moving headquarters. CEO Richard D. McClellan said about 30 rulebooks will follow, starting with banking and asset management, and the city rose 17 places to 67th of 117 cities in last month's Z/Yen and CDI global financial centres index.

Ho Chi Minh City aims to attract 19 billion USD in FDI in 2026 and invites global investors to identify opportunities, address development challenges and create new growth drivers together. The city prioritizes high-quality capital in finance, technology, digital transformation, the green economy, sustainable development and innovation, while seeking businesses’ views on what drives their investment decisions. The Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC), launched earlier in 2026, will channel capital into research and development, engineer training, technology cooperation and upgrading Vietnamese suppliers. These remarks were made at the CEO 500 programme within the Autumn Economic Forum 2026, which gathered more than 500 business leaders.

Ho Chi Minh City rose 17 places to 67th of 117 cities in the 40th Global Financial Centres Index (GFCI 40), released September 30 with a score of 692, the second-fastest climb after Copenhagen. Gains came from financial sector progress, including FTSE Russell's upgrade of Vietnam's stock market, a 12-place rise in fintech to 71st, and improved reputation. The Ho Chi Minh City International Financial Center, launched seven months earlier, partnered with the London Stock Exchange to mobilize $325 million for education projects, though experts say the business environment still needs work. The index classifies the city as an 'International Contender' for connectivity, and as 'Emerging' for breadth and depth.

Niraj Vedwa, a board member of XacBank (Mongolia), told a forum at VIS 2026 that combining the Vietnam International Financial Center (VIFC) with a free trade zone (FTZ) would give Ho Chi Minh City a distinctive edge in attracting capital, helping it shift from an “investment destination” to an “investment organizer.” He said capital from VIFC could finance infrastructure and supply chains in the FTZ, while trade and logistics activity there would create demand for financial, risk-hedging and forex services at VIFC. He recommended the city identify 3–4 target global investors or institutions and prioritize a pipeline of projects in infrastructure, logistics and seaports. Nguyen Duy Hieu of EY Law Vietnam said legal transparency and effective dispute resolution are the core competitive advantages of a financial center, while HCMC attracted USD 17.8 billion in FDI in the first nine months of the year, 4.2 times the same period in 2025.