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HCMC Rises 7 Spots in Global Financial Center Ranking

Posted by Khoi Pham on March 12, 2025
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Ho Chi Minh City (HCMC) has advanced 7 spots to rank 98th in the Global Financial Centres Index (GFCI) 37, a leap fueled by a 25-point increase, reaching 645 points. This marks the city’s highest ranking since 2022, according to a report released by Z/Yen Partners (UK) and the China Development Institute.

Table of Contents

Ho Chi Minh City Climbs 7 Places in GFCI 2025

📊 Ranking Progress for HCMC:

  • Mar 2023: Rank 112
  • Sep 2023: Rank 120
  • Mar 2025: Rank 98

HCMC’s progress narrows the gap with Bangkok and Jakarta, signaling Vietnam’s growing ambition to become a regional financial powerhouse.

How the GFCI Ranking Is Calculated

The GFCI score is based on 145 indicators, sourced from credible institutions like:

  • United Nations
  • World Economic Forum
  • World Bank
  • Transparency International

It also includes feedback from 50,000+ professionals in finance, evaluating metrics like:
✅ Investment environment
✅ Banking & insurance services
✅ Talent pool
✅ Infrastructure & reputation

These factors determine each city’s competitiveness as a financial hub and serve as a reference for policymakers and global investors.

Vietnam’s Plan for an International Financial Center

HCMC has pursued the idea of becoming a global financial hub for nearly 20 years. In late 2024, the Vietnamese government approved a master plan for an International Financial Center (IFC) in HCMC, with operations targeted to start in 2025 and full completion by 2030.

🏙️ IFC Key Locations:

  • District 1 (CBD)
  • Thu Thiem New Urban Area (9.2 ha across 11 land plots)

Earlier this year, a 29-member Steering Committee was established to oversee the IFC development, led by HCMC Party Secretary Nguyễn Văn Nên.

Southeast Asia Financial Centers: HCMC Gains Ground

Among Southeast Asian cities, Singapore still leads globally at rank 4. However, HCMC’s rapid progress is notable:

CityGFCI Rank (Mar 2025)
Singapore4
HCMC98
Jakarta97
Bangkok96
Kuala Lumpur51
Manila103

With continued development, HCMC could emerge as a key regional financial node, especially with metro, infrastructure, and real estate integration in Thu Thiem and District 1.

Global Leaders: Top 10 Financial Hubs

🌐 Top 5 Global Financial Centers (GFCI 2025):

  1. New York (USA) – 769 points
  2. London (UK)
  3. Hong Kong (China)
  4. Singapore
  5. San Francisco

🔺 Notably, Seoul entered the top 10, replacing Frankfurt, reflecting the dynamism in Asia-Pacific.

What This Means for Vietnam

With rising investor confidence, government backing, and clearer regulatory reforms, Vietnam is set to make its mark on the global financial map.

📈 Takeaways:

  • Growing recognition of HCMC as a financial center
  • Major infrastructure and urban development in progress
  • Opportunity to attract more FDI in banking, fintech, and capital markets

Stay tuned as HCMC accelerates toward its 2030 goal of becoming a regional financial powerhouse.

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