Can Ho Chi Minh City Become Asia’s Next Fintech Powerhouse? A Strategic Push Just Began

Vietnam’s C4IR and Ant International join forces to build fintech infrastructure, train talent, and position HCMC as a global financial centre.

Vietnam has taken a significant step toward strengthening its financial services landscape. The Vietnam Centre for the Fourth Industrial Revolution (C4IR Vietnam), established by the World Economic Forum in collaboration with the Ho Chi Minh City People’s Committee, has entered into a strategic partnership with Ant International, the fintech arm of Ant Group, to advance digital finance and innovation initiatives across the country.

The collaboration, formalised at the Ho Chi Minh City Economic Forum 2025, aims to advance Vietnam’s digital economy and accelerate the city’s ambition to become an international financial centre and fintech hub. The agreement was witnessed by Vietnam’s Prime Minister Pham Minh Chinh and HCMC People’s Committee Chairman Nguyen Van Duoc, signalling high-level political support for the initiative.

Why This Partnership Matters Now

Vietnam has emerged as one of Asia’s fastest-growing digital economies, driven by mobile-first consumers, rapid fintech adoption, and strong policy support. As regional competition intensifies — with Singapore, Bangkok, and Jakarta upping their fintech game — Ho Chi Minh City is positioning itself as the next growth engine.

This partnership goes beyond payments. It aims to:

• Strengthen financial infrastructure
• Support regulatory innovation
• Build local talent and capabilities
• Help SMEs and startups scale globally

The strategy reflects Vietnam’s shift from being a manufacturing and cost-competitive economy to becoming an innovation-led market with regional influence.

Regulatory Innovation: The Critical Ingredient

A key focus of the partnership is helping HCMC shape regulatory frameworks that make it easier for fintechs and startups to test and deploy solutions. Ant International and C4IR Vietnam will advise policymakers on regulatory models to attract foreign companies, improve ease of doing business, and enable controlled experimentation.

The partnership will also leverage Ant International’s 6T framework — Travel, Trade, Thrive, Technology, Talent, Trust — to align HCMC’s progress with global standards. This approach could shape how the city opens itself to global capital and drives innovation responsibly.

Building Local Strength: SMEs and Startups

Vietnam’s economy runs on SMEs, which make up over 90% of registered businesses. Yet many still lack access to digital finance, global trade tools, and cross-border payment systems.

To address this gap, Ant International will provide access to platforms including:

• Alipay+ – for cross-border digital payments
• Bettr, Antom & WorldFirst – tailored solutions for SME expansion
• Digital finance tools to simplify operations and trade workflows

This enables Vietnamese SMEs to compete regionally — not just survive locally.

The Talent Equation

No fintech hub can be built without skilled talent. The partnership will introduce structured training and mentorship programmes across areas such as:

• Digital payments & compliance
• Cross-border finance
• Fintech operations
• Startup scaling strategies

The goal is to produce the next generation of fintech professionals, supporting Vietnam’s vision of becoming a smart, innovation-led economy.

Why Ant International Is Betting on Vietnam

Ant International CEO Peng Yang described Vietnam as “one of the most exciting digital economies in the world today,” citing strong policy support and a vibrant startup ecosystem. The company will expand its presence in the country and make Ho Chi Minh City one of its regional hubs for market access and innovation.

Chairman Nguyen Van Duoc echoed this optimism, saying the partnership could fast-track the city’s transformation into a global financial centre. His message was simple:
“We play together and win together.”

What This Means for Asia’s Startup Ecosystem

For founders and investors across Asia, this collaboration signals three key trends:

1. Fintech regulation is becoming a competitive advantage — not a barrier.
2. SME digitalisation is now a national strategy, not just an economic goal.
3. Vietnam is evolving from a growth market into a strategic testing ground for global tech.

If executed well, this partnership could pave the way for structured cross-border collaboration, real-world pilot testing, and smarter financial policy — all crucial ingredients for a modern innovation hub.

Conclusion: A Turning Point for Vietnam?

Ho Chi Minh City is not trying to copy Singapore. It is trying to build its own model — one based on inclusivity, SME empowerment, and regional connectivity. The partnership between Ant International and C4IR could become the playbook for fintech-driven urban development in emerging markets.

The success of this initiative will depend on three things: Whether policy adapts fast enough, Whether startups gain real market access, And whether talent development keeps pace with ambition.

Quick Takeaways

• C4IR Vietnam has partnered with Ant International, the fintech arm of Ant Group.
• The collaboration aims to support Vietnam’s digital finance and innovation agenda.
• The partnership aligns with Vietnam’s ambition to become a regional financial hub.
• C4IR Vietnam was established by the World Economic Forum and the Ho Chi Minh City People’s Committee.