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Monday, 19 October 2026

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Vietnam’s Two-City Financial Centre Bets on Real-Economy Growth, Not a Singapore Replica

By Rebecca Hsu4 min read

Ho Chi Minh City, 28 August 2026 – Vietnam is positioning its new international financial centre as a direct gateway into one of Asia’s fastest-growing real economies, choosing a two-city model focused on funding domestic expansion rather than trying to replicate established hubs such as Singapore.

Six months after the Vietnam International Financial Centre (VIFC) began taking shape, Ho Chi Minh City has attracted about US$21 billion in capital commitments. Several major Vietnamese banks are also preparing to establish wholly owned units in the southern metropolis, signalling early interest in the centre’s potential to support capital markets, banking and investment activity.

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Author

  • Rebecca Hsu is a Senior Economist and Lead Analyst for The Ledger Asia, focusing on the rapidly evolving financial landscapes of East and Southeast Asia. With a background in sovereign risk assessment and emerging market trends, Rebecca provides sharp commentary on trade dynamics, monetary policy, and the digital economy's impact on regional growth.

    Formerly a strategic advisor for major financial institutions in Hong Kong, she excels at translating complex macroeconomic shifts into actionable insights for investors and policymakers. Her work at The Ledger Asia centers on China’s economic transition and the burgeoning manufacturing hubs of ASEAN, ensuring readers stay ahead of Asia’s shifting financial tides.