What Makes a Great Financial Center? | Jochen Biedermann of the WAIFC

Can Vietnam build an international financial center capable of competing in one of the most competitive regions in the global economy?At the Vietnam Financial Forum, I sat down with Jochen Biedermann, Managing Director of the World Alliance of International Financial Centers and a member of the advisory council supporting Vietnam's International Financial Center.Jochen brings a rare global perspective. The World Alliance represents 27 financial centers across five continents, giving him firsthand insight into what makes financial hubs succeed, why some struggle, and what Vietnam must get right.We discuss the different models behind financial centers such as London, Dubai, Hong Kong and emerging fintech hubs; the importance of talent, regulation, infrastructure and international connectivity; and the challenges Vietnam still needs to address as it builds its own financial ecosystem.We also explore the unusual dual-city model between Ho Chi Minh City and Da Nang, why a little competition between the two cities might actually be healthy, and how Da Nang could combine fintech, technology, sustainable finance and quality of life to create something distinctly its own.Perhaps most importantly, this conversation moves beyond the question of whether Vietnam has potential. The more interesting question now is how that potential gets converted into institutions, talent, investment and businesses.Recorded at the Vietnam Financial Forum in Da Nang, Vietnam.