International financial center ambitions in Vietnam hold promise for Swiss companies
Vietnam is making significant strides in its efforts to establish international financial centres in Ho Chi Minh City (HCM City) and Da Nang, attracting the attention of Swiss investors. The progressive approach to financial reforms and the introduction of regulatory sandboxes for fintech and digital assets are key factors driving this interest.
Stefan Winzenried, the founder and CEO of the Swiss tech firm JANZZ.technology, which has a branch in HCM City, has highlighted the potential of these cities. Ho Chi Minh City, with its strong regional connectivity, young workforce, and increasingly business-friendly environment, is seen as an ideal location for an international financial centre. Da Nang, meanwhile, is emerging as a strategic hub, with potential administrative integration with the neighbouring Quang Nam province expected to broaden its development space, free up land and labour resources, and enhance supply chain connections to industrial parks and seaports.
The regulatory sandboxes are a crucial part of this transformation, allowing fintech companies to experiment with AI-driven labour market solutions and digital asset management under a more streamlined and supportive governance framework. These controlled environments aim to foster innovation while managing risks associated with new financial technologies and digital assets, helping Vietnam leapfrog into a modern, international financial market.
Tefan Winzenried has shown particular interest in Da Nang, viewing it as a rising strategic player. For investors, the potential merger could turn Da Nang into a powerful economic engine in central Vietnam. The merger could also tighten connections to industrial zones and seaports in Da Nang, further boosting its growth potential.
The expansion of the financial sector in both HCM City and Da Nang is attracting tech-savvy investors, with recent administrative reforms in Vietnam making long-term investment more viable. For Stefan Winzenried and JANZZ.technology, Da Nang is a key focus, given its potential to become a hub for AI-based labour market solutions tailored to Vietnam's needs.
In conclusion, the initiative to establish international financial centres in HCM City and Da Nang is generating enthusiasm among Swiss investors. The strategic development of these cities, coupled with the regulatory sandboxes for fintech and digital assets, is seen as a testament to Vietnam's commitment to modernizing its financial system and creating a more business-friendly environment.
- Stefan Winzenried, the CEO of JANZZ.technology, views Ho Chi Minh City as an ideal location for an international financial center due to its strong regional connectivity, young workforce, and increasingly business-friendly environment.
- Da Nang, with potential administrative integration with Quang Nam province, is emerging as a strategic hub, offering a broader development space, freeing up land and labor resources, and enhancing supply chain connections to industrial parks and seaports.
- The regulatory sandboxes in Vietnamallow fintech companies to experiment with AI-driven labor market solutions and digital asset management under a more streamlined and supportive governance framework, fostering innovation while managing risks associated with new financial technologies and digital assets.
- Stefan Winzenried has shown particular interest in Da Nang, viewing it as a rising strategic player, and sees potential in Da Nang being a hub for AI-based labor market solutions tailored to Vietnam's needs.
- The strategic development of HCM City and Da Nang, along with the regulatory sandboxes for fintech and digital assets, is seen as a testament to Vietnam's commitment to modernizing its financial system and creating a more business-friendly environment, generating enthusiasm among Swiss investors.
