Vietnam is pushing to turn Ho Chi Minh City and Da Nang into international financial centres. Understanding why trust and transparent rules matter helps explain how the country hopes to draw the massive investment needed for its rapid growth.

According to Kenneth Atkinson, founder and senior board advisor of Grant Thornton Vietnam, the government wants the two cities to become international finance hubs that can bring in huge amounts of capital for development. He notes that this ambition is central to Vietnam’s economic strategy.

Atkinson stresses that the success of the International Financial Centre will ultimately depend on whether foreign investors are ready to commit money. He says investors need confidence in the regulatory framework and clear, transparent judicial processes.

He points out that Vietnam’s legal system is based on civil law, with strict foreign‑exchange controls and limits on foreign ownership, which differs from the common‑law, free‑capital‑mobility model used by established centres such as Singapore or London. To bridge the gap, Atkinson proposes a parallel regulatory environment inside the IFC that would apply common‑law principles, independent dispute resolution and free capital movement while the national civil‑law system stays unchanged. This dual system would let Vietnam keep its civil‑law code while offering investors a familiar legal setting.

Atkinson also says building the talent pool – actuaries, forensic accountants, compliance experts – will need both local training programmes. In the meantime, an interim flow of expatriate specialists can provide on‑the‑job guidance.

In short, without trust, transparent regulations and a skilled workforce, Ho Chi Minh City’s dream of an international financial centre will struggle to attract the foreign capital that fuels Vietnam’s fast‑moving development. Trust and clear rules are therefore essential for turning the ambition into reality.