Recently, the UK-based organization Z/Yen Partners and the China Development Institute released the 38th edition of the Global Financial Centres Index (GFCI 37). Ho Chi Minh City (HCMC), Vietnam, scored 664, a 10-point increase in its GFCI rating. As a result, HCMC climbed to the 95th position, rising three places compared to the March 2025 ranking. This marks HCMC’s highest achievement since its inclusion in the index in 2022.
Additionally, HCMC is among the top 15 financial centers predicted to experience robust growth over the next 2–3 years. However, its fintech ranking dropped two places, from 88 to 90.
With this progress, HCMC has surpassed Bangkok (Thailand) for the first time, as the latter fell out of the top 100 to rank 102nd. HCMC has also significantly narrowed the gap with Jakarta (Indonesia) in terms of financial center competitiveness. Within ASEAN, Singapore remains a standout performer, maintaining its 4th global position.
Globally, New York (USA) leads with 766 points, followed by London (UK), Hong Kong (China), and Singapore. The top 10 cities retained their rankings unchanged.
According to Z/Yen Partners and the China Development Institute, the GFCI score is calculated using 140 input factors provided by third parties, including the United Nations, World Economic Forum, World Bank, Transparency International, and the World Wide Web Foundation.
Cities are also evaluated through online surveys. These inputs assess various components such as investment management, insurance, banking, financial sector development, human resources, infrastructure, and overall reputation.
The final GFCI score, a composite of these component scores, determines a city’s competitiveness in the global financial center landscape. This ranking is widely referenced by policymakers and investors.
The resolution to develop international financial centers in Vietnam, adopted by the National Assembly on June 27, outlines the establishment of financial hubs in HCMC and Da Nang. These centers will operate under a unified management framework while tailoring products to leverage local strengths.
HCMC: One of Vietnam’s Two International Financial Centers
The international financial center in HCMC encompasses parts of Ben Thanh Ward, Saigon Ward, and the Thu Thiem New Urban Area. Photo: VGP
International financial centers have long been the backbone of the global capital market.
The resolution to develop these centers in Vietnam, effective from September 1, 2025, aims to establish financial hubs in HCMC and Da Nang. These centers will operate under a unified management framework while tailoring products to leverage local strengths.
In HCMC, the financial center will focus on comprehensive products and services, including banking, capital markets, asset management, and fund administration. It will also feature fintech sandboxes, innovation hubs, specialized trading platforms, and derivative commodities. Da Nang, meanwhile, will prioritize green finance, fintech, digital services, and controlled trials of digital assets and cryptocurrencies, attracting investment funds.
The government aims to launch the HCMC Financial Center this year, with completion targeted within five years. The center will be located in Saigon Ward, Ben Thanh Ward (former District 1), and the Thu Thiem New Urban Area.
The total preliminary investment for the project is approximately VND 172 trillion (USD 7 billion). Notably, the core area requires VND 16 trillion in the first 2–3 years, with VND 2 trillion from the state budget for government offices. The remainder will be sourced from domestic and international strategic investors.
Emerging Milestone for Ho Chi Minh City’s International Financial Hub
Ho Chi Minh City’s standing on global rankings continues to rise, underscoring its unwavering ambition and potential to emerge as a leading international financial hub.
Ho Chi Minh City Adds Over 6.5 Million Square Meters of Land for Commercial Housing
Unveiling a groundbreaking initiative, Ho Chi Minh City is set to transform 54 land plots spanning over 6.5 million square meters into a pioneering commercial housing project, in alignment with Resolution 171.
Khải Hoàn Prime Apartments: Attracting Buyers with a 20% Down Payment Policy
Positioned as a premium apartment segment yet offering a competitive price below 70 million VND/m², Khai Hoan Prime is capturing significant attention from both end-users and investors alike.
Ho Chi Minh City Approves 1:2000 Master Plan for 786-Hectare Mechanical Engineering Industrial Zone
Nestled in the heart of Binh Co and Tan Uyen wards, this 785.9-hectare specialized mechanical industrial park is a testament to innovation and growth. With a staggering investment of over 75 trillion VND, including 12.8 trillion VND dedicated to infrastructure development, the project is poised to become a powerhouse of opportunity. Anticipated to create jobs for 32,200 workers, it’s not just an industrial zone—it’s a catalyst for economic transformation.
Who Can Afford the $4,300 per Sq. Ft. Luxury Condo Market?
According to experts, the segment of apartments priced at 100 million VND per square meter is not tailored for the majority of buyers seeking a primary residence, as their income levels cannot sustain such high costs.
