Ho Chi Minh City Rises in GFCI Rankings Amid Fintech Competition

Ho Chi Minh City climbed 17 places and gained 27 points in the Global Financial Centres Index, marking the second-largest rise among assessed centers compared to the March edition. In the fintech category, the city ranks ahead of Jakarta and Manila, but trails Singapore, Kuala Lumpur, and Bangkok. The Strategy and General Affairs Department of Vietnam's International Financial Centre in Ho Chi Minh City noted that the ranking reflects emerging momentum rather than proof of full financial center status.

The ranking jump is cited by the Strategy and General Affairs Department of Vietnam's International Financial Centre in Ho Chi Minh City as evidence of growing financial sector recognition. However, the department also identified the business environment pillar, particularly the credibility of anti-money laundering efforts, as a main constraint. Financial sector development has been identified as a key catalyst for the city's momentum.