Argentine media applauds Vietnam’s initiative to create an international financial center in Ho Chi Minh City as part of a broader economic strategy. With a notable GDP and ambitious growth targets, Vietnam’s stock market is thriving, complemented by free trade agreements bolstering its global economic integration. This move aims to enhance Vietnam’s position as a significant player in Southeast Asia’s dynamic economic landscape.
Vietnam has gained recognition from Argentine media for its significant step towards establishing an international financial center in Ho Chi Minh City (HCM City), recognized as the country’s economic and commercial hub. This initiative reflects a transformative strategy in the government’s economic plans, which also includes developing a regional financial center in Da Nang. The initiative necessitates strong collaboration among relevant entities to meet established objectives effectively.
An article by Infobae, a noted Argentine online news platform, highlighted Vietnam’s immense potential for developing these financial centers. The commendation is based upon various favorable indicators, such as the nation’s gross domestic product (GDP) reaching approximately USD 470 billion, positioning Vietnam as the 33rd or 34th largest economy globally. Moreover, the country has ambitious goals to achieve a minimum GDP growth of 8% by 2025, with aims for even more substantial expansion in subsequent years.
Infobae’s analysis also points out the remarkable expansion of Vietnam’s stock market, with a total valuation exceeding USD 283 billion in 2024. The nation’s extensive integration into the global marketplace, supported by 17 free trade agreements with 65 countries, has further bolstered its economic resilience, culminating in a trade turnover estimated at USD 800 billion last year, despite prevailing global economic uncertainties.
In addition to its economic growth, the report underscores the stability of Vietnam’s political climate, the assurance of public safety, and the quality of life within the nation. Furthermore, the geographical positioning of Vietnam in Southeast Asia, a region noted for its dynamism and innovation, is considered a strategic advantage. The recent opening of HCM City’s inaugural metro line is recognized as a crucial advancement in urban infrastructure, catering to the transit needs of nearly 9 million residents, enhancing economic activity and connectivity.
The development of international financial centers is a crucial aspect of modern economic strategies, allowing countries to enhance their global standing and facilitate additional investment opportunities. Vietnam’s decision to establish financial centers in HCM City and Da Nang represents its proactive approach towards embracing globalization and fostering economic growth. By leveraging its GDP growth and substantial stock market performance, Vietnam aims to attract foreign investments and position itself as an economic leader within Southeast Asia.
In conclusion, the establishment of international financial centers in Vietnam is seen as a strategic move to bolster economic growth and stability. With a burgeoning economy, notable GDP growth, and strategic geographic location, Vietnam is poised to become a significant player in the global financial arena. The positive remarks from Argentine media reflect international acknowledgment of Vietnam’s potential in this pursuit, supported by robust infrastructure improvements and a favorable economic environment.
Original Source: vietnamnews.vn
