Ho Chi Minh City jumps 7 places in Global Financial Centers Index
VGP - Ho Chi Minh City climbs up seven place to rank 98th out of 119 cities in the 37th edition of the Global Financial Centers Index (GFCI 37).
It marked the highest position since first being included in the rankings in 2022.
The city saw an increase of 25 points compared to the previous ranking, reaching a total of 654 points, behind Singapore, Bangkok (Thailand) and Jakarta (Indonesia) but higher than Manila (the Philippines) in the Southeast Asian region.
By the end of 2024, the Politburo officially approved the establishment of an International Financial Center (IFC) in HCM City, alongside a regional financial center in Da Nang.
The southern metropolis plans to build its IFC on a 9.2ha site in the Thu Thiem urban area of Thu Duc City.
The IFC is envisioned as a cornerstone for the city's future economic growth, aimed at attracting international investors, boosting foreign direct investment (FDI) inflows, and solidifying its position as Viet Nam's economic hub.
The GFCI 37 provides evaluations of future competitiveness and rankings for 119 financial centers around the world. The GFCI serves as a valuable reference for policy and investment decision-makers.
The GFCI is compiled using 140 instrumental factors. These quantitative measures are provided by third parties including the World Bank, the OECD, and the United Nations.
The instrumental factors are combined with financial center assessments provided by respondents to the GFCI online questionnaire. GFCI 37 uses 31,314 assessments from 4,946 respondents./.
