HCMC's Remarkable Rise in Global Financial Rankings

Ho Chi Minh City (HCMC) has made a significant leap in the global financial center rankings, ascending seven places to secure the 98th position. This advancement brings the Vietnamese metropolis closer to its Southeast Asian counterparts, such as Bangkok and Jakarta, highlighting its growing prominence in the region.

Global and Regional Standings

Singapore continues to dominate the regional landscape, holding steady at the fourth spot globally. Meanwhile, New York, London, and Hong Kong retain their top three positions, underscoring their unchallenged dominance in the financial world.

The Path to Becoming an International Financial Hub

HCMC has been meticulously preparing for its role as an international financial center for nearly two decades. With the government's approval of a plan to establish such a center, the city is poised to attract international investors and boost foreign direct investment across various sectors.

Strategic Location and Development

The proposed financial center, set to be located in District 1 and the adjacent Thu Thiem New Urban Area, is among the most coveted real estate spots in Vietnam. Construction is slated to begin this year, with completion expected in five years.

Assessment and Future Prospects

The GFCI score, a critical measure of a city's competitiveness as a financial hub, is derived from extensive data and surveys. HCMC's inclusion in the index since 2022 and its rapid ascent reflect its potential and the confidence of policymakers and investors in its future.