Path emerges for economic bonanza

In its initial phase, the Vietnam International Financial Center (VIFC) in Ho Chi Minh City is focusing on establishing market confidence, attracting strategic capital commitments, and building an institutional, technology, and market ecosystem.

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Assoc. Prof. Dr. Nguyen Huu Huan, vice chairman of the VIFC in the metropolis, discussed the issue further with V/R’s Binh An.

As the new VIFC becomes operational, selecting the right flagship financial products will determine its competitiveness. What key financial products and services in Ho Chi Minh City prioritising in the current phase?

If we look at the current product development strategy, it’s clear we're not pursuing a broad, diversified approach, but rather focusing on a few key product lines capable of creating a real competitive advantage in the region. These products are all linked to two factors: global financial trends and Vietnam’s structural advantages.

One of these strategic edges is aviation finance. The VIFC in the city will develop services such as aircraft leasing, fleet financing, aviation insurance and reinsurance, as well as hybrid financial structures related to airline operations. We chose this field due to the large scale of the global market, while Southeast Asia is experiencing strong growth in air transport demand.

Running parallel with this is maritime finance and logistics, closely linked to international supply chains and foreign trade. Key products here include trade finance, ship financing, transport insurance, and financial solutions for global supply chains. In the context of the global supply chain restructuring following recent geopolitical shocks, financial centres linked with logistics and seaports will hold a significant advantage.

Another important pillar is digital finance and digital assets. The centre is proactively developing products related to blockchain, cross-border payments, stablecoins, and especially asset tokenisation. If done well, this could become a key selling point of the centre in the coming period.