HCMC – HCMC has moved up three spots to 95th in the latest Global Financial Centres Index (GFCI 38), surpassing Bangkok for the first time.
The city scored 664 points, up 10 from the previous ranking in March, marking its highest level since Vietnam first entered the index in 2022. HCMC was also listed among the 15 financial hubs expected to see strong growth in the next two to three years.
However, in the fintech category, HCMC slipped two places to 90th. The gap with Jakarta has narrowed, while Bangkok fell out of the top 100, ranking 102nd.
Regionally, Singapore retained its fourth position worldwide, following New York, London, and Hong Kong. The global top 10 financial centers remained unchanged from earlier this year.
The GFCI index is compiled using 140 indicators from international organizations such as the United Nations, World Bank, World Economic Forum, and Transparency International, combined with an online survey of industry professionals. It measures factors ranging from investment management, banking, and insurance to infrastructure, human capital, and city reputation. The rankings are widely referenced by investors and policymakers.
In Vietnam, the National Assembly in June approved a resolution to develop international financial centers in HCMC and Danang City. These hubs will share a unified regulatory framework but design specialized products based on local strengths.
In HCMC, the planned financial center will cover banking, capital markets, asset and fund management, and feature a regulatory sandbox for fintech and innovation. Authorities also plan to establish specialized trading platforms, including for derivatives and commodities.
The Government aims to launch operations within this year and complete development within five years.
