The Government has approved a development plan for its International Financial Center through 2035, aiming to strengthen the country’s role in regional and global financial networks.
Deputy Prime Minister Nguyen Van Thang, who is also Chairman of the Governing Council of the International Financial Center in Vietnam, has signed Decision No. 04/QD-HDĐHTTTC approving the center’s development plan through 2035.
The plan aims to develop the International Financial Center into a key driver for mobilizing, allocating, and efficiently using domestic and international financial resources. It is intended to promote rapid and sustainable economic growth, improve the quality and efficiency of the economy, and gradually enhance Vietnam’s position and role in regional and global financial networks.
For the 2026-2030 period, the plan targets the completion of a comprehensive legal and institutional framework, governance model, and supervisory mechanisms for the International Financial Center in line with international standards, while ensuring transparency, safety, and efficiency.
During the same period, Vietnam will pilot and launch priority financial products and services, while establishing core financial, digital, social, and legal infrastructure to support the center’s operations.
For the 2031-2035 period, the plan aims to expand and complete a modern financial ecosystem, including capital markets, green finance, digital finance, and technology-driven finance, while increasing the diversity, depth, and connectivity of the International Financial Center.
The plan also envisions the center becoming a major hub for capital flows with a prominent position in Asia-Pacific and global financial networks. Vietnam aims to rank among the world’s top 75 financial centers, the top 25 in the Asia-Pacific region, and third in ASEAN under the Global Financial Centres Index or an equivalent international ranking.
Under the plan, the International Financial Center in Ho Chi Minh City will be developed into a comprehensive and diversified financial hub focused on capital markets and the provision of traditional and specialized financial services.
The center will capitalize on synergies among financial services, including capital raising, investment, payments, issuance and trading of financial products, asset and fund management, green finance, and digital finance. It will also develop commodity markets and commodity derivatives linked to international trade and logistics.
The International Financial Center in Da Nang will focus on innovation and financial technology, with priority areas including digital assets, digital payments, and asset tokenization.
The Da Nang center will establish and operate specialized platforms and exchanges, develop financial services supporting innovation, startups, trade finance, supply chain finance, and sustainable finance, and implement controlled pilot programs for new financial technologies, products, services, and business models.
By Lam Nguyen – Translated by Anh Quan
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