Vietnam Insider – Despite rising global trade tensions, Vietnam is accelerating plans to establish an international financial centre (IFC) aimed at boosting its economic influence, attracting global capital, and positioning itself as a regional financial powerhouse, Finance Minister Nguyen Van Thang told the National Assembly on Tuesday.
Now in its 30th draft, the ambitious initiative outlines sweeping reforms to support foreign exchange liberalization, banking development, capital market expansion, and tax incentives — all designed to attract top-tier investors, financial institutions, and global talent.
Strategic Leap for Vietnam
The proposed IFCs will operate in Ho Chi Minh City, the country’s commercial capital, and Danang, a rising star in tourism and innovation. The centres will allow members to transact in foreign currencies, raise international financing, and launch platforms for commodities trading, carbon credits, cultural products, and startups.
Key provisions include simplified administrative procedures to ease market entry; alignment with international banking standards, including capital adequacy and liquidity requirements; special labour provisions to attract high-skilled professionals and tax incentives for financial institutions and investors
“This initiative could transform Vietnam into a regional hub for finance and innovation,” said Sophie Dao, Senior Partner at GBS – Global Business Services LLC, a consultancy that advises foreign investors in Vietnam. “The IFC not only opens new doors for global capital but also reinforces Vietnam’s long-term vision for sustainable economic leadership in Asia.”
Investment Momentum Remains Strong
Despite external challenges, Vietnam continues to draw robust investor interest. Foreign direct investment (FDI) disbursements rose 7.9% to $8.9 billion in the first five months of 2025, while FDI pledges surged 51.1% to $18.4 billion — a strong indicator of continued market confidence.
However, looming U.S. trade pressure — including potential tariffs on Vietnamese exports — has added urgency to Vietnam’s diversification of economic growth engines. As a manufacturing base for global giants like Samsung, Intel, Nike, and Foxconn, Vietnam is now looking to balance industry with innovation and financial services.
A Vote for the Future
The National Assembly is scheduled to vote on the IFC resolution on June 27. If approved, the government aims to have the centres operational within the year.
“Vietnam is not just opening its doors to capital — it’s building the infrastructure to become a true financial gateway to Southeast Asia,” Sophie Dao added. “It’s an exciting time for investors who believe in Vietnam’s potential as more than just a manufacturing hub.”
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Source: Vietnam Insider