Ho Chi Minh City's new ranking on the global financial map

By moving up three places and surpassing Bangkok for the first time, Ho Chi Minh City’s new ranking on the GFCI 38 rankings has become an important milestone, marking a clear step forward in the journey to build an international financial center in Vietnam. This is not only a numerical improvement, but also reflects the city’s strong, synchronous and steadfast efforts in realizing its aspiration to become a strategic destination for global capital flows.

This breakthrough is the result of many converging factors. First of all, it is the strong direction from the Central Government and the leaders of Ho Chi Minh City to create a policy framework that is competitive enough with regional centers. Along with that is the continuous effort to connect and cooperate with the world's leading financial corporations, banks and technology organizations such as Nasdaq, Deutsche Bank, HSBC, Cathay, Ant Group, Siam Bank or Tiktok Payment. These strategic partnerships not only bring technology, capital and international experience, but also help the Vietnam International Finance Center in Ho Chi Minh City (IFC-HCM) quickly approach global standards in the field of finance and fintech.

An important point that makes IFC-HCM different is the positioning of this center. Instead of just acting as a place to concentrate traditional financial services, IFC-HCM is designed as a high-tech financial center - a convergence of blockchain, artificial intelligence, digital asset platforms and a dynamic fintech ecosystem. The open sandbox model allows testing of new financial products in a special management environment, making IFC-HCM a "laboratory" for bold ideas, ensuring system safety while encouraging innovation. This helps attract financial technology startups from all over the world, while opening up opportunities for domestic banks and institutions to become multinational financial corporations, using IFC-HCM as a springboard to access the global market.

Surpassing Bangkok in this ranking also has special strategic significance. Bangkok has long been a long-standing financial center in ASEAN, but the rise of Ho Chi Minh City shows a clear message: Vietnam is becoming an emerging destination, ready to compete directly in the region. This is an affirmation that with strategic vision, drastic institutional reform, and leveraging technological power, a young financial center can absolutely break through and make its mark on the international map.

However, this is just the beginning. The long-term goal that Vietnam has set is to bring IFC-HCM into the group of 75 leading financial centers in the world before 2035. To achieve that, Ho Chi Minh City will have to continue to maintain the momentum of improving the business environment, speeding up infrastructure progress, perfecting the sandbox mechanism, as well as ensuring transparency and safety for transactions in a comprehensive digital environment. At the same time, training and attracting high-quality human resources in the field of finance and technology will also be a key factor to help the center maintain a sustainable competitive advantage.

It can be said that IFC-HCM is not only a financial development project, but also a symbol of Vietnam's aspiration for innovation and global integration. The success in upgrading and surpassing Bangkok this time is clear evidence that Ho Chi Minh City is on the right track, ready to become a leading financial and technological center in the region, making an important contribution to the country's economic development and affirming Vietnam's position on the world financial map.

Source: https://daibieunhandan.vn/thu-hang-moi-cua-tp-ho-chi-minh-tren-ban-do-tai-chinh-toan-cau-10389092.html