Vietnam has officially entered the regional financial-centre race: the National Assembly’s Resolution 222/2025/QH15 establishes an international financial centre in Ho Chi Minh City and Da Nang, effective 1 September 2025. This is not an ordinary economic zone — it is a distinct institutional space whose rules are designed to compete directly with the region’s established financial centres.
The legal framework: one parliamentary resolution, two locations, a distinct regime
Resolution 222/2025/QH15 establishes Vietnam’s international financial centre with two geographic components: Ho Chi Minh City as the comprehensive financial centre, and Da Nang developing innovation-linked and green finance segments. The centre operates with its own governing and executive bodies and a one-stop member-registration mechanism for participating financial institutions.
Notable institutional features in the centre’s design include: English used in transactions and dossiers within the centre; parties to certain transactions may agree to apply foreign law; disputes are resolved at an international arbitration mechanism seated in the centre; and a more open foreign-exchange policy for member capital flows. These are precisely the factors that have been the largest barriers of Vietnam’s financial market for international institutions.
Who may enter: members are domestic and foreign financial institutions
Participants are financial and financial-support organisations: banks and foreign bank branches, securities companies, investment funds and fund managers, insurers, fintechs and financial-infrastructure providers (exchanges, depositories, payment systems). Member registration carries conditions on financial capacity, governance and the business scope permitted within the centre.
For foreign institutions, the practical entry model usually starts with member presence at the business scope licensed for the centre, rather than moving all existing Vietnam operations into the centre at once. Products and markets within the centre open on a roadmap: international capital markets, commodity derivatives trading, green finance and digital assets are among the oriented development segments.
Incentives and sandbox: competing on institutions, not only on tax
The resolution gives the centre an incentive package at the high end of Vietnam’s legal framework for priority-sector projects and organisations, combining long-term tax preferences, land and infrastructure incentives, and favourable visa and residence policies for international financial experts and their families — the talent-competition factor every regional centre must solve.
The controlled testing mechanism (sandbox) within the centre allows testing of new financial products, services and models under supervision, within approved scope and duration, before a full legal framework exists. For fintech and digital assets, the financial centre’s sandbox complements the banking sandbox under Decree 94/2025/ND-CP and the Digital Technology Industry Law’s testing framework, forming three sector testing corridors.
Rollout roadmap and how to join early
After the resolution’s effectiveness, implementing organisational instruments (executive body, member rules, phased business-scope lists) are issued progressively and the centre begins operating on a step-by-step roadmap. Organisations wanting early entry should: track member-registration guidance as soon as it is issued; identify the business segments in the first opening phase that fit them; and prepare a presence plan (office, key personnel, systems) ready for the moment registration opens.
The early entrant’s advantage in new financial centres is position in market design: first members help comment on operating rules, gain anchor-partner status for new product markets and build brand before member competition crowds in. The price of waiting is buying that position back later at far higher cost.
Frequently Asked Questions
Which organisations may operate in the IFC (banks, funds, fintech)?
Financial and financial-support organisations: banks, foreign bank branches, securities companies, investment funds and fund managers, insurers, fintechs and financial-infrastructure providers. Entry is via member registration with the centre’s executive body, with conditions on financial capacity, governance and permitted business scope.
What tax, foreign-exchange and expert-visa incentives apply?
Resolution 222/2025/QH15 gives a high-level incentive package for priority sectors within the centre, a more open FX policy for member capital flows, and favourable visa and residence terms for international experts. Specific tax levels per entity type are set in the centre’s implementing instruments — investors must check the clause applying to their exact entity type at registration.
How does the sandbox for new financial products work?
The centre’s sandbox allows testing of new financial products, services and models within approved participant scope, scale and duration, under the centre regulator’s supervision, before a full legal framework exists. It is a separate corridor complementing the banking sandbox (Decree 94/2025/ND-CP) outside the centre.
What is the rollout roadmap and how to register early?
The centre operates on a roadmap after the 1 September 2025 effectiveness, as organisational instruments (executive body, member rules, phased business lists) are issued in sequence. Early entrants should track member-registration guidance, choose segments in the first opening phase and prepare a presence plan ready to file when registration opens.
This article has been quality-reviewed by the FLAW AI Legal Council
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