Finance industry boasts a brilliant historical legacy, prepared to expand in tandem with the nation
In the heart of Southeast Asia, Vietnam's finance sector is gearing up for a transformative journey. The sector aims to strengthen economic and financial institutions, foster socioeconomic development strategies, and bolster regional economies.
Vietnam's stock market, currently home to approximately 2,300 listed companies, boasts a market capitalisation of around 65 per cent of the country's GDP and a bond market size of about 32.8 per cent. This robust foundation serves as a springboard for the sector's ambitious modernization plans.
By 2030, Vietnam's finance sector aspires to modernize strongly, with key milestones including the restructuring of credit institutions, the resolution of non-performing loans (NPLs), accelerated digital transformation, and the promotion of cashless payments. This modernization is in line with a broader economic diversification, with investments in high-tech sectors such as AI, semiconductors, and renewable energy, and infrastructure expansion projects.
Two special financial centres are planned for Ho Chi Minh City and Danang, offering simplified regulations, tax incentives, fintech support, and business dispute facilitation to attract foreign investors and enhance Vietnam's global financial hub status.
Financial reform is also part of institutional overhauls, such as provincial consolidation to build stronger regional talent pools and streamlined bureaucracies, aiming to support an advanced economic structure as Vietnam transitions towards upper-middle-income status by 2030 and high-income status by 2045.
Climate financing is another focus area, with the sector integrating efforts for a comprehensive, nationally owned strategy combining economic development with sustainability goals. This involves mobilising both public and private investments for climate mitigation and adaptation without compromising economic growth or social inclusion goals.
Key initiatives by 2030 include the full implementation of credit institution restructuring and NPL resolution schemes, scaling up cashless payment systems and digital banking transformation, reducing administrative burdens, developing special financial zones, promoting financial inclusion, strengthening regulatory frameworks against money laundering, and ensuring payment system security.
The Vietnamese stock market recently celebrated its 25th anniversary in Ho Chi Minh City, marking the launch of a new IT system. The sector also aims to attract international investment funds and encourage public and business participation in the stock and insurance markets.
Innovation in social security policies is another priority, with a focus on improving the social insurance system to ensure welfare, social progress, fairness, and improved living standards for the people. The finance sector has effectively managed state reserves and provided essential goods to people affected by natural disasters and epidemics.
Foreign investment in Vietnam continues to rise sharply, driven by capital adjustments and share purchases, despite a dip in newly registered funds. An upgrade to Vietnam's stock market status from frontier to emerging would further improve the country's image, attract long-term capital flows, raise market standards, and promote institutional reforms.
Sources: - State Bank of Vietnam (2024) Directive No. 01/CT-NHNN - Euronews Business (2025-08-13) - UNDP Vietnam (2025-08-13) - United Nations Vietnam (2025-08-01) - ABC News (2025-08-13)
Investing in the digital transformation of Vietnam's finance sector could provide lucrative opportunities for businesses, as the country aims to restructure credit institutions, resolve non-performing loans, and promote cashless payments.
The modernization of Vietnam's financial sector, which includes the establishment of special financial centers in Ho Chi Minh City and Danang, aligns with the government's goal of becoming a global financial hub by 2030.
