Vietnam’s recent rollout of International Financial Centres (IFCs) in Da Nang and Ho Chi Minh City signals a structural shift in its economic strategy, one that’s anchored by a dense innovation ecosystem as it moves to realise its Viet Nam 2045 vision.
These centres, designed to support development of software engineering, data science, cybersecurity, artificial intelligence and fintech, also reflect a broader national approach to modernise infrastructure to support higher-value growth.
Distinguished Professor Andrew K. Rose (Dean of NUS Business School) shared perspectives on how international financial centres and leadership development can support Vietnam’s next phase of growth. Image: NUS Business School
As Vietnam upgrades its governance frameworks and human capital base, it is positioning itself to evolve from a manufacturing-led economy toward one increasingly driven by innovation, financial intermediation and cross-border capital connectivity, reinforcing its role as a key growth engine within ASEAN’s digital and financial landscape.
As these initiatives take shape, leadership development will play an important supporting role as businesses place renewed emphasis on leadership and management capabilities that can bridge policy, infrastructure and technology for sustained growth, said Distinguished Professor Andrew K. Rose, Dean of NUS Business School.
“Vietnam has articulated a clear development vision supported by strong policy initiatives,” Professor Rose said. “As these initiatives progress from design to implementation, continued investment in leadership capability and education can help ensure that institutions and markets operate effectively and sustainably.”
He noted that Vietnam’s economic momentum, which is underpinned by foreign investment, a growing middle class and rapid digital adoption, will create new demands on management and governance, particularly in sectors linked to finance, technology and regional connectivity.
Professor Rose discussed the need for leadership and talent development during the media engagement in Ho Chi Minh City. Earlier this year in Hanoi, he also highlighted the importance of strengthening human capital to sustain Vietnam’s long-term economic progress. Image: NUS Business School
Vietnam’s policies such as Resolution 68 and Resolution 57 have placed private enterprise and innovation at the centre of its growth model, creating a more competitive environment for domestic firms to scale and compete globally.
Professor Rose observed that this trajectory mirrors broader ASEAN patterns where public-sector reform and private-sector innovation evolve in tandem. Exposure to international learning environments, he said, helps professionals operate confidently across markets and cultures.
A report by Vietnam’s Ministry of Education and Training, shared in September 2025, stated that a record high of nearly 250,000 Vietnamese are studying abroad. Vietnamese professionals enrolling in NUS Business School’s MBA, MSc Finance and executive education programmes are mid- to senior-level managers seeking broader regional responsibilities, particularly in finance, consulting, technology and regional headquarters roles.
As Ho Chi Minh City and Da Nang advance their IFC initiatives, leadership and human capital development are expected to remain central to Vietnam’s long-term economic strategy of connecting innovation, governance and institutional strength as the country moves toward Vision 2045.
