Vietnam's recent deployment of International Financial Centres (IFCs) in Da Nang and Ho Chi Minh City shows a structural shift in the country's economic strategy, laid down by a strongly developing innovation ecosystem as Vietnam aims to realize its vision to 2045.
These centers are designed to support the development of fields such as software engineering, data science, cybersecurity, artificial intelligence and financial technology, while reflecting the country's broader approach to infrastructure modernization to support higher value-added growth.
As these initiatives are gradually implemented, leadership capacity development will play an important supporting role. As businesses increasingly focus on leadership and management capabilities capable of connecting policies, infrastructure and technology, in order to promote sustainable growth, according to Professor Andrew K. Rose - Rector of NUS Business School.
“Vietnam has identified a clear development vision, supported by strong policy initiatives. As these initiatives move from the design phase to implementation, continued investment in leadership and education capabilities can help ensure that institutions and markets operate effectively and sustainably.” - Professor Rose said.
He added that Vietnam's economic growth momentum, driven by foreign investment capital flows, the growing middle class and rapid digital transformation will create new requirements for management and administration capabilities, especially in areas related to finance, technology and regional connectivity.
Vietnam's policies such as Resolution 68 and Resolution 57 have placed the private economic sector and innovation at the center of the growth model, creating a more competitive environment for domestic enterprises to expand their scale and compete in the global market.
As Ho Chi Minh City and Da Nang continue to promote IFC initiatives, the development of leadership capacity and human resources is expected to continue to play a central role in Vietnam's long-term economic strategy, connecting innovation, governance capacity and institutional strength as the country moves towards its 2045 vision.
