(Vietnam Insider) – Ho Chi Minh City (HCMC) has strengthened its position on the global financial map, climbing in the Global Financial Centres Index (GFCI 38) to rank 95th out of 120 international financial hubs. With a score of 664 points, the city advanced three places from the previous report, surpassing Bangkok and moving within close reach of Jakarta.
More importantly, HCMC has been identified among the Top 16 financial centres worldwide expected to increase in influence over the next 2–3 years, reflecting its growing integration and competitiveness in the global financial system.
Regional Context
Within ASEAN, Singapore remains the region’s leader, ranking 4th globally with 763 points, while Kuala Lumpur holds 45th place with 714 points. Jakarta ranks 91st with 668 points, only four points ahead of HCMC, whereas Bangkok has slipped to 102nd with 657 points.
This shift positions HCMC as an emerging contender in Southeast Asia’s financial landscape, highlighting Vietnam’s accelerating reforms and ambitions to build a global financial hub.
Strengths and Challenges
The improved ranking stems from multiple factors: Regulatory reforms aimed at greater transparency and a more business-friendly environment. Strong fintech momentum, with international recognition of HCMC as a vibrant testing ground for innovations such as e-wallets and blockchain applications. Increased foreign investment flows, with global funds and banks expanding their footprint in the city.
However, challenges remain. HCMC’s financial and technological infrastructure still lags behind Singapore and Kuala Lumpur. The city also faces a shortage of high-level talent in fintech, capital markets, and risk management, while building long-term global credibility will require sustained effort.
A Turning Point: Digital Assets
Momentum may accelerate with the Vietnamese government’s recent Resolution 05/2025, which launches a five-year pilot program for a digital asset market. Analysts believe this could provide HCMC with a significant competitive edge, particularly as global financial centres increasingly embrace digital assets and fintech innovation.
Outlook
For international investors, HCMC’s steady rise reflects both opportunities and risks. As ASEAN emerges as one of the world’s fastest-growing economic regions, HCMC’s combination of a dynamic economy, rapid digital adoption, and proactive policy reforms positions it as a city to watch.
If it can continue to build out financial infrastructure, attract top-tier talent, and enhance international trust, HCMC may soon move beyond being an “international contender” to a recognized regional financial powerhouse.
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Source: Vietnam Insider