With Vietnam’s economy growing rapidly and infrastructure development requiring substantial investment that domestic funding sources might not be sufficient to meet, raising capital in Hong Kong represents an important avenue.
Deputy Minister of Finance Nguyen Thi Bich Ngoc said the products and services include investment funds and asset management, asset-backed digital assets, international carbon credits, commodity trading and derivatives infrastructure linked to trade and supply-chain financing, financial technology, and bonds issued at the centre. As these groups are at different stages of readiness, they will be rolled out in phases rather than simultaneously.
Deputy PM Nguyen Van Thang emphasised that each product at the VIFC must have a clear legal basis, an implementing agency, an operating and supervisory mechanism, and implementation timeline, with priority given to products that can generate actual transactions.
The goal of the VIFC is to make it easier for foreigners to invest in and profit from Vietnam’s economic development. Its establishment was motivated by Vietnam’s estimated 1.5 trillion USD funding gap – money Vietnam needs in the coming years to industrialise the country.
Under the Government’s plan, VIFC-HCMC is positioned as a multi-functional international financial hub focusing on banking services, capital markets and international investment connectivity, while VIFC-DN is being developed into a specialised centre for fintech, digital finance and green finance.
Digital assets are reshaping economic models, financial infrastructure, capital flows, investor confidence, cybersecurity frameworks and the competitiveness of existing international financial centres. These developments present common challenges for both France and Vietnam, making the exchange of practical lessons and regulatory experience increasingly important.
Australian companies have strengths in regtech, data governance, cybersecurity, payment infrastructure, and digital assets—areas that align with Vietnam’s priorities. Their experience in highly regulated environments could help Vietnam address challenges such as financial fraud, cybercrime, and security risks.
While building a fully-fledged international financial centre will take time, the VIFC is gradually moving from positioning to building credibility, thereby opening up new opportunities to attract global capital in the years ahead.
The Vietnam International Financial Centre (VIFC) is seen as a major capital hub where banks act as modern financial intermediaries, facilitating efficient capital flows and improving resource allocation.