Business

Global On-Chain Economy Alliance launched at International Financial Centre in HCM City

“On-chain” refers to transactions that are recorded and verified directly on the blockchain, ensuring transparency, security, and immutability. This forms the foundation for many digital financial applications, from money transfers and smart contract operations to data storage.

The Global On-Chain Economy Alliance makes debut on November 25. (Photo: VNA)
The Global On-Chain Economy Alliance makes debut on November 25. (Photo: VNA)

HCM City (VNA) – The Vietnam International Financial Centre in Ho Chi Minh City on November 25 introduced the Global On-Chain Economy Alliance to pilot next-generation digital finance models, promote innovation, and attract international capital, with an aim of making the city a leading financial and digital asset hub in the region.

The launch ceremony was held during the 2025 Autumn Economic Forum, in the presence of Prime Minister Pham Minh Chinh.

“On-chain” refers to transactions that are recorded and verified directly on the blockchain, ensuring transparency, security, and immutability. This forms the foundation for many digital financial applications, from money transfers and smart contract operations to data storage.

According to international organisations, 2025 is considered an important milestone in the global effort to complete the legal framework for digital assets, as new regulations are being issued at a rapid pace. The digital asset market is entering a phase of strong growth, with over 700 million blockchain users worldwide. Notably, major financial centres around the world are actively accelerating to position themselves in this historic transformation.

In this context, Vietnam is seen as a highly potential market, with an Internet penetration rate of 84% - the highest in Southeast Asia, and more than 50,000 technology engineers graduating each year. Vietnam is also among the countries with a high level of digital asset adoption. Experts consider this an important moment for Vietnam to avoid falling behind in the global competition over new financial models.

Regarding policy, on October 22, 2024, the Prime Minister issued the national strategy on the application and development of blockchain technology to 2025 with a vision to 2030. At the same time, several important Politburo resolutions were issued, including Resolution 57-NQ/TW on science, technology, and digital transformation; Resolution 59-NQ/TW on international integration; Resolution 66-NQ/TW on innovation in law-making and enforcement; and Resolution 68-NQ/TW on private sector development.

In particular, Resolution 222/2025/QH15 of the National Assembly on establishing the International Financial Centre in Vietnam provides an important legal framework for the implementation phase. Accordingly, the International Financial Centre in Ho Chi Minh City is expected to serve as a platform to promote the development of the digital asset ecosystem, strengthen connections with the global financial system, and open new growth opportunities for the economy.

In this spirit, the Global On-Chain Economy Alliance was established with the mission to build digital economic infrastructure, support the development of new business models, and expand a comprehensive financial network. The alliance brings together numerous international and domestic organisations, including Viettel Digital Services – the leading digital infrastructure provider in Vietnam; Dragon Capital – a top fund management institution in Vietnam; Tether – the world’s largest stablecoin issuer; Ava Labs – a high-performance blockchain platform; Sky Mavis – a leading blockchain gaming “unicorn”; Republic – an international fundraising platform; and Onchain Academy – a pioneering organisation for digital economy education in the region.

The participation of these institutions is expected to help form a complete digital asset ecosystem for the International Financial Centre in Ho Chi Minh City. Combined with the determination of the Government and local authorities, the centre is anticipated to become a destination for global capital, bringing Ho Chi Minh City closer to its goal of becoming the region’s leading digital asset hub./.

VNA
#Vietnam International Financial Centre #Ho Chi Minh City #Global On-Chain Economy Alliance #Autumn Economic Forum
Follow VietnamPlus

Vietnam - New era

Related News

Container loading at Chu Lai port (Photo: VNA)

Collaborative efforts needed to boost Vietnam’s supply chain growth: Insiders

As global supply chains face ongoing disruption, building a modern, transparent, and sustainable supply chain is key for Vietnam not only to maintain resilience but also to strengthening its global trade standing, requiring joint efforts from the Government, businesses, and international partners in capital, technology, and strategic vision, according to insiders.

See more

An LNG tanker docks at the Thi Vai LNG terminal in Ho Chi Minh City (Photo: VNA)

Solutions proposed to support firms amid Middle East conflict impacts

Top priority should be given to stabilising energy prices to ease input cost pressures and ensure supply stability – the most widely supported recommendation, chosen by 61.9% of surveyed firms. Businesses urged close monitoring of global fuel prices and supply risks, along with flexible measures to curb abnormal domestic price fluctuations and secure supplies of fuel and essential materials.

Nguyen Viet Tu (right) and a cooperative technician inspect a bird’s eye chilli field ready for harvest for export to European countries. (Photo: VNA)

Vietnamese herbs gain ground in European market

The Chau Pha Agricultural Production and Services Cooperative model is widely seen as an illustration of a new direction for Vietnam’s agriculture sector, one that combines clean production practices, modern management and proactive engagement with global markets.

Garment production for export to the EU at the TNG company in Thai Nguyen province (Photo: VNA)

Businesses pivot strategies to sustain export growth momentum

Enterprises are shifting toward reasonably priced, easy-to-consume products such as tra fish, tilapia, canned items and surimi, instead of focusing mainly on high-end products like large-sized shrimp, which are facing weaker demand in some markets.

Border guards inspect and verify fishing vessels’ documents and procedural records before departure. (Photo: VNA)

Hue accelerates tech upgrades, strengthens vessel monitoring to combat IUU fishing

During the first quarter, the Department of Agriculture and Environment worked closely with city police and the Border Guard Command to inspect and supervise so-called “three-no” fishing vessels — those lacking registration, licences, or inspection certification — along with boats deemed ineligible for operation in Thuan An, Quang Dien, Vinh Loc, and Chan May–Lang Co.

Officials of former Ninh Thuan province (which is part of Khanh Hoa province now) inspect the progress of Bac Ai pumped-storage hydropower plant. (Photo: VNA)

Efforts made to keep Bac Ai pumped-storage hydropower project on schedule

The project, which is included in the approved National Power Development Plan for 2021–2030 with a vision towards 2050, is developed to strengthen national energy security, support a circular economy and contribute to Vietnam’s commitment to achieving net-zero emissions by 2050, as pledged at the COP26 climate conference.

NSMO Chairman Nguyen Duc Cuong speaks at the event (Photo: VNA)

Experts seek to improve power dispatch in new energy era

Electricity demand is expected to rise strongly, while global energy markets remain volatile. In this context, rooftop solar and BESS are emerging as key solutions to improve flexibility and ensure supply, especially during peak periods.

Prime Minister Pham Minh Chinh speaks at the conference. (Photo: VNA)

Enterprises must pioneer in achieving double-digit economic growth from 2026: PM

Reports delivered at the conference showed that Vietnam had about 1 million active enterprises by late 2025, up more than 25% from 2020, contributing roughly 60% of GDP and employing more than 16 million workers. They also account for the bulk of the country’s trade turnover, while Vietnam ranks among the world’s top 15 destinations for foreign direct investment.

Visitors browse the Vietnamese product display booths at the "Vitality of Vietnamese Goods" exhibition and livestream in Hanoi from March 7-9, 2026. (Photo: VNA)

Vietnamese goods promotion: Greater transparency needed

As transparency, traceability and social responsibility increasingly become essential entry requirements, proactive compliance will give Vietnamese enterprises a clear advantage in building trust among international partners.

Trade Counsellor Hoang Duc Nhuan of the Vietnam Trade Office in Algeria speaks at the online export consultancy session on the markets of Algeria, Senegal and Tunisia for more than 40 Vietnamese agencies and enterprises on March 26. (Photo: VNA)

Opportunities for Vietnamese businesses to promote exports to African markets

Vietnamese exporters were advised to seek partners through reputable channels and to use secure payment methods, such as irrevocable letters of credit confirmed by trusted European or American banks, or documentary collection with a deposit of at least 20% of the contract value. Deferred payment arrangements should be avoided.

Prime Minister Pham Minh Chinh speaks at the conference (Photo: VNA)

Prime Minister stresses firms’ role in double-digit growth target

While the Party and State will continue refining institutional framework, mechanisms and policies, Prime Minister Pham Minh Chinh made clear that enterprises must be the main drivers of growth. He urged them to take greater responsibility for rapid and sustainable development, while actively contributing to institutional reform.

Illustrative photo (Photo: deplacementspros.com)

Aviation authority grants Qatar Airways permission for three flights

According to the authority, these flights will not carry domestic passengers on the Hanoi–Ho Chi Minh City leg. Instead, they are intended to transport passengers affected by the exceptional situation in the Middle East, while gradually restoring air transport activities between Qatar and Vietnam, including passengers, cargo and parcels.