Investors at HCM City Stock Exchange. Việt Nam has significant opportunity to strengthen its links with international capital flows as global investors are seeking new markets. — VNA/VNS Photo Hứa Chung

HÀ NỘI — Việt Nam has significant opportunity to strengthen its links with international capital flows as global investors are seeking new markets, driven by the development of Vietnam International Financial Centre (VIFC) and ongoing market reforms, experts have said.

Richard D. McClellan, chief executive of the VIFC in HCM City, said at a forum on Việt Nam’s global capital access held by SSI Securities Corporation and Deutsche Bank on June 18 in Hà Nội that geopolitical uncertainties were reshaping global investment patterns but also creating opportunities for emerging financial hubs.

"Investors continue to look for markets that offer growth potential, stability and attractive investment opportunities," McClellan said, adding that Việt Nam was well positioned to benefit from those trends.

He noted that Việt Nam had the advantage of learning from established financial hubs around the world in the development of VIFC.

Rather than competing directly with mature centres such as Singapore or Hong Kong, Việt Nam should focus on building a model tailored to its own economic conditions and development needs, he added.

He also highlighted the rapid emergence of technologies such as artificial intelligence, digital assets and financial technology, which could allow newer financial centres to develop competitive advantages more quickly than in the past.

Former US Ambassador to Việt Nam Marc Knapper said political and economic stability remained among the most important factors influencing global investment decisions.

"Investors consistently prioritise markets that offer stability and predictable business environments," Knapper said, adding that Việt Nam's stable macroeconomic environment and positive growth prospects were important advantages as the country sought to attract larger volumes of international capital.

Colin Mullins, chief executive officer of fund management company Vantage Point, said international investors had responded positively to Việt Nam's recent reform efforts in improving market operations, strengthening regulatory frameworks and enhancing transparency.

However, he said institutional reforms alone would not be sufficient, adding that investors need attractive investment opportunities and the prospect of sustainable returns.

In the context that of the increasing flow of investment from North America and Europe into Asia, the key question is how Vietnamese companies can position themselves to capture this opportunity, Daniel Clark, global head of Depositary Receipts at Deutsche Bank, said.

He said reforms aimed at upgrading Việt Nam's stock market status, implementing the KRX trading system and establishing a central counterparty clearing mechanism were all contributing to greater market accessibility.

Combined with plans for an IFC and a legal framework for depositary receipts, those measures could help both foreign investors access Việt Nam's market more easily and Vietnamese companies tap deeper pools of global capital, he said.

Continued improvements in financial infrastructure and connectivity will be critical to Việt Nam's ambition of becoming a more important destination for global capital, he said. — VNS