(Vietnam Insider) – With impressive economic growth and a strategic geographic location, Vietnam is emerging as a promising candidate to become a leading financial hub in Southeast Asia, according to France’s ambassador in Hanoi.
Speaking at the seminar “Building a Legal Framework for International Financial Centers in Vietnam – France’s Experience” on September 18, French Ambassador Olivier Brochet emphasized that Vietnam holds a unique opportunity to transform Ho Chi Minh City and Da Nang into competitive, attractive, and safe international financial centers.
A Trusted Partnership Between France and Vietnam
“The relationship between France and Vietnam is long-standing and reliable. For many years, our two countries have actively cooperated in diverse fields, creating a strong foundation to expand into finance,” Brochet said.
He highlighted Vietnam’s remarkable growth, favorable geography, and ongoing reforms as key factors positioning the country as a prime contender to lead in regional financial services.
Challenges Ahead: Law, Governance, Talent
Despite these advantages, the ambassador underlined several challenges. Such as Legal framework: Vietnam must craft regulations that are both internationally attractive and adapted to its local contex; Governance and dispute resolution: Transparency and fairness are crucial to ensure investor confidence; Human capital: Beyond infrastructure and technology, world-class financial centers distinguish themselves by the quality of their professionals. Through collaboration with universities, Vietnam could build a new generation of financial experts capable of meeting global market demands.
“France is ready to accompany Vietnam in this process, helping Ho Chi Minh City and Da Nang evolve into dynamic, innovative, and appealing financial hubs of the future,” Brochet affirmed.
Vietnam’s Legislative Push
At the seminar, Ms. Đào Thanh Hương, Deputy Director of the Foreign Investment Agency under the Ministry of Finance, presented highlights of National Assembly Resolution 222 on developing international financial centers.
She explained that Resolution 222 introduces special policy mechanisms coupled with strict risk management and oversight. “The development of international financial centers is a strategic breakthrough, bringing together capital, talent, technology, and legal structures, and enabling Vietnam to integrate deeply into global markets,” she said.
Vietnam, she added, seeks France’s partnership not only in policy and governance design but also in connecting global investors and channeling financial flows into these emerging centers, making Vietnam a gateway for European and international capital.
Three Pillars for Success
On the sidelines of the event, Ambassador Brochet summarized three critical conditions for building successful international financial centers in Vietnam: Robust legal framework: Clear, stable laws at both legislative and regulatory levels are vital to secure investor trust; Transparent governance: Effective management that values all stakeholders—from regulators to businesses and investors—creates stability and confidence for capital flows; Innovation and talent development: Training high-quality financial professionals capable of adapting to modern markets and new financial instruments is essential for long-term competitiveness.
For international investors, France’s commitment signals not only growing bilateral ties but also a potentially transformative step in Vietnam’s integration into global finance. If successful, Ho Chi Minh City and Da Nang could soon rival other Asian hubs as magnets for capital and innovation.
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Source: Vietnam Insider