Ho Chi Minh City financial center needs to attract investment capital from digital assets

Trung tâm Tài chính Quốc tế TP. Hồ Chí Minh (IFC) cần thử nghiệm các sản phẩm tài chính để thu hút dòng vốn quốc tế.

The Ho Chi Minh City International Finance Center (IFC) needs to test financial products to attract international capital flows.

IFC is the platform for the digital economy

In the context of a rapidly changing global economy, the construction of the Ho Chi Minh City International Financial Center (IFC) is not only a strategic decision to develop the city but also an important step to integrate into the world's financial digitalization trend. Many experts believe that IFC is the driving force for the city's development, where technology and finance combine to create new values. Ho Chi Minh City has a great opportunity to become one of the leading financial centers in Southeast Asia thanks to its solid steps in developing digital technology and digital finance.

Nhiều cơ hội để Trung tâm Tài chính Quốc tế TP Hồ Chí Minh thu hút đầu tư từ tài sản số - Ảnh 1. — The success of an IFC depends not only on tax incentives or geographical location, but also on flexible institutions and a strong legal framework that can adapt to the constant innovation of financial technology.

According to Mr. Vo Duc Anh, Deputy Director of the Center for Supporting Innovative Startups in Da Nang City, the role of advanced technologies such as blockchain, AI and big data in forming a sustainable digital financial ecosystem. These are the technologies that will restructure the banking industry, while increasing the competitiveness of the region.

However, the success of an IFC does not depend solely on tax incentives or geographical location, but also on flexible institutions and a strong enough legal framework to adapt to the constant innovation of financial technology. Mr. Tran Huyen Dinh, Chairman of the VBA Fintech Application Committee, pointed out that experience from international financial centers such as Hong Kong, Singapore and Dubai shows that the decisive factor for success is the ability to flexibly apply new technologies to the financial system.

Experts also said that to build a successful IFC in Ho Chi Minh City, it is necessary to focus on advanced technologies and a solid foundation for digital finance. Testing new financial products, especially blockchain and digital assets, is the key to attracting international capital flows into Vietnam.

Digital assets as a bridge to attract international capital flows

One of the key factors to attract international investment capital is the emergence of innovative financial products, especially digital bonds, digital investment funds, and green finance. These products not only meet the increasing demand of international investors for innovation but also help Ho Chi Minh City build a sustainable and transparent digital financial ecosystem.

Nhiều cơ hội để Trung tâm Tài chính Quốc tế TP Hồ Chí Minh thu hút đầu tư từ tài sản số - Ảnh 2. — To attract international investment flows; IFC needs innovative financial products, especially digital bonds, digital investment funds, and green finance.

Mr. Tran Huyen Dinh said that Vietnam needs to learn from successful international models, typically Hong Kong. Hong Kong has allowed the issuance of securities in the form of digital assets since 2023 and implemented a pilot program since 2024. In just two years, Hong Kong has attracted more than 770 million USD in issuance value on the blockchain platform, of which 94 million USD are encrypted assets. In particular, green financial products are considered a prominent trend, helping to increase the sustainability of investment projects and attract the attention of international investors.

A notable example is Dragon Capital’s launch of the first digital asset ETF in Vietnam, which aims to tokenize traditional assets such as stocks and bonds. This fund not only reflects the innovation in asset conversion but also represents an opportunity to expand the digital capital market in Vietnam. Mr. Will Ross, Director of Marketing & Distribution of Dragon Capital, believes that transparency and a clear legal framework will be the decisive factors for the success of this fund, thereby opening up opportunities for digital financial products to thrive in Ho Chi Minh City.

In addition, technology companies such as Kyber Network have pointed out that IFC is not only for banking or investment activities, but also a space for technology companies to participate in developing digital financial services. Mr. Tran Huy Vu, Co-founder of Kyber Network, commented that IFC Ho Chi Minh City will become a platform to build a transparent, efficient and internationally expanding financial ecosystem. This model, if successfully implemented, will create a breakthrough in providing financial services not only domestically but also in the region.

Regarding fintech businesses operating in the sandbox, Mr. Le Anh Quoc, Director of Operations at AlphaTrue Solutions, said that the sandbox is an ideal environment for businesses and management agencies to closely coordinate and verify compliance capacity from the early stages. Building a sandbox for digital financial products at IFC Ho Chi Minh City will help Vietnamese businesses participate in the international value chain right from the center's establishment.

Testing blockchain-based financial products such as digital bonds, digital investment funds and green finance not only helps Ho Chi Minh City attract international capital flows but is also an opportunity for the city to build a sustainable digital financial platform that meets the needs of global investors.

To achieve this goal, Ho Chi Minh City needs to develop a flexible legal framework that closely combines policy, technology and business, thereby creating a strong and secure digital financial ecosystem. If successfully implemented, the Ho Chi Minh City International Financial Center will not only contribute to the development of the domestic digital economy but also enhance Vietnam's position on the global financial map.

Priorities (IFC) for Attracting Capital from Digital Assets