On the afternoon of September 25, the 3rd Vietnam Financial Advisors' Summit in 2025 (VWAS) - an annual event organized by the Financial - Investment Newspaper and the Vietnam Financial Advisors' Community (VWA) under the sponsorship of the Ministry of Finance.
Speaking at the Forum, Ms. Nguyen Thi Bich Ngoc - Deputy Minister of Finance said: "The National Assembly issued Resolution 222/2025/QH15, accordingly, Vietnam will form an international financial center located in Ho Chi Minh City and Da Nang. Striving to form and operate 2 centers by the end of this year. This is a breakthrough in attracting financial resources for the medium and long term, a foundation for new stage socio-economic development".
Ministries and sectors have urgently completed and submitted to the Government, issuing 8 Decrees on the construction of international financial centers. The approach is to comply with international standards, creating a solid foundation for financial centers to develop, competing with regional and world financial centers in the medium and long term.
"Not only forming a modern financial zone, more importantly, Vietnam's financial center must be deeply connected to the global financial network, making Vietnam gradually an attractive destination on the international financial map" - the Deputy Minister of Finance pointed out the goal.
Sharing at the Forum with the theme " Institutional launching pad - Market boost", Dr. Can Van Luc, Chief Economist of BIDV, Member of the Prime Minister's Policy Advisory Council, said: "The construction of financial centers is being implemented very vigorously, the Chairmen of the People's Committees of the two provinces and cities have clear decentralization of authority".
However, to promote financial centers, Mr. Luc proposed developing more commodity trading markets, including derivatives, gold exchanges, and cryptocurrency exchanges to better integrate and connect.
Regarding the characteristics of the current financial and banking market when the total assets of the Vietnamese financial market are estimated at 41.26 trillion VND, equivalent to 332% of GDP, Mr. Luc pointed out: "The scale of the Vietnamese financial market is average; The scale of the Vietnamese financial market is quite advanced and cross-selling of products is increasingly developing; Retail financial services and digital finance are developing strongly. However, the distribution network system is not uniform, competition is increasing".
According to Mr. Luc, the market structure is unbalanced, and there is a large contribution to the system of credit institutions that need to strongly develop the capital market, especially the corporate bond market, the investment and derivatives fund market, and non-bank credit institutions.
Referring to the risks for the Vietnamese financial and banking industry, BIDV Chief Economist said: "The scale of the large financial and banking market comes with risks. Risk of financial system, financial - real estate - digital asset connectivity; Risk of cybersecurity, information - data security, financial crimes increase".
Commenting on the Vietnamese financial and banking market, Dr. Can Van Luc affirmed: "Although the market has many challenges, there are more opportunities than challenges, even many opportunities".
With the theme "New era, new rebound", the forum focuses on analyzing asset classes such as stocks, real estate, cryptocurrency assets... to help investors identify opportunities in the last months of the year and longer term in the coming years to allocate a reasonable portfolio to optimize profits.
