Viet Nam is entering an important stage to develop an international financial center (IFC) towards comprehensive digitalisation. Resolution No.222/2025/QH15 of the National Assembly on building an international financial center in Ho Chi Minh City and Da Nang, together with Resolution No.05/2025/NQ-CP of the Government on piloting the crypto asset market, are laying the institutional foundation for a new development stage of Viet Nam’s digital finance.
On that basis, standardising technical standards for digital assets, applying real-time monitoring technology, and enhancing data transparency will be the conditions for forming a sustainable international financial centre.
Aiming to become a high-tech international financial centre, Ho Chi Minh City still has a large gap compared to leading financial centres in the region such as Hong Kong (China) and Singapore.
Viet Nam’s stock market capitalisation is about 218 billion USD (2024), equivalent to 66% of GDP, while Hong Kong (China) reaches more than 5 trillion USD and Singapore about 645 billion USD.
“This gap shows that Vietnam needs a strong enough institutional strategy to move from testing to implementation,” said Tran Huyen Dinh, Chairman of the VBA Fintech Application Committee.
Viet Nam needs to flexibly combine policy, technology and market to form a synchronous digital financial ecosystem, he said, noting that Ho Chi Minh City can inherit international experience to build a flexible testing mechanism, helping businesses innovate while still ensuring safe management.
