🥖 IFC to get operational, FDI records, and pool parties

Good evening from Asia,

Welcome back to Bánh Mì Brief - Your weekly check-in for Vietnam’s business news, where global finance, big money, and a dash of monsoon madness make every story extra crunchy!

In this episode: Vietnam’s International Financial Center needs to get operational this November. Meanwhile, foreign direct investment just smashed a five-year disbursement record. And just as business steamed ahead, Saigon’s famous walking street found itself knee-deep in rain and tides. But the party did not stop.

Enjoy the read!

Prime Minister Pham Minh Chinh said Vietnam’s International Financial Center must be operational by the end of November 2025, and he’s not playing around. On November 1st, the PM chaired an urgent conference demanding the Ministry of Finance finalize implementing decrees within days so this ambitious project can officially launch on schedule. No perfectionism, no delays, just results.

The IFC follows the “one center, two hubs” model, with Ho Chi Minh City’s facility focusing on more traditional finance like stocks, bonds, banking, and fund management, while Da Nang’s hub specialises in maritime finance, logistics, agro-industrial supply chains, and Digital assets / FinTechs. Governing boards, supervisory bodies, and a specialised court for dispute resolution are foreseen as a governance model in both locations.

Now comes the hard part, translating ambition into infrastructure, talent, and actual operations within weeks. If they pull this off, Vietnam will leapfrog a couple of years of conventional financial development. If they don’t, well, at least the deadline made for good headlines.

Vietnam is actually cashing the checks. Foreign direct investment disbursement reached USD 21.3 billion in the first ten months of 2025, up 8.8% year-on-year and marking the highest ten-month level in five years.

Manufacturing and processing absorbed the lion’s share at USD 17.7 billion, representing 83% of total disbursed FDI. Real estate came in second with USD 1.5 billion, while electricity and utilities claimed USD 672 million. What’s particularly interesting is the surge in adjusted capital for existing projects up 45% to USD 12 billion. Suggesting investors aren’t just showing up, but they’re doubling down.

Singapore led the pack as Vietnam’s top investor, followed by China, Hong Kong, and Japan. The strong disbursement numbers reflect Vietnam’s continued appeal as a regional manufacturing hub amid global supply chain diversification. Also, the pipeline looks healthy heading into 2026. The real test is whether Vietnam can maintain this momentum while upgrading from low-cost manufacturing to higher-value industries.

Floodwaters stretched the full 850 meters of Bui Vien, stalling motorbikes, forcing diners to keep their feet off the ground, and sending groups of tourists elevating beers (and attitudes) as the soggy nightlife scene powered through. The hardest-hit spot saw depths nearing half a meter, with slow-draining water causing restaurants to scramble for sandbags and chairs while street vendors watched their typical weekend crowds thin out.

If you pictured locals grumbling, think again. Some simply perched their feet on tables while continuing the party, undeterred by 10–20 centimetres of indoor “river views.” So next time monsoon season hits, remember: Saigon doesn’t cancel happy hour. It just moves the dance floor up a few inches.

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See you next week! 🥖