HCMC's rise to 67th was only behind Copenhagen's 19-spot jump on the 40th edition of the semi-annual index compiled by London-based think tank Z/Yen Partners and the China Development Institute.

Da Nang made its debut at rank 71st after it was named an associate center a couple of editions ago.

A view of the city of Da Nang in 2025. Photo by VnExpress/Nguyen Dong

The latest index, released on Wednesday, scores 139 financial hubs based on 144 instrumental factors across five areas of competitiveness: business environment, human capital, infrastructure, financial sector development and reputation.

It uses quantitative data from third-party sources including the United Nation, World Economic Forum and World Bank, as well as online survey responses from more than 6,000 participants working in sectors such as banking, finance and professional services.

The resulting GFCI score, which measures the competitiveness of each financial center, is often used by policymakers and investors.

HCMC scored 692, up 27 points from last September, and Da Nang was close behind with 685.

Among the featured Southeast Asian names, Singapore was the only one in the top 10 while the next highest were Malaysia's Kuala Lumpur and Labuan at 39th and 44th, respectively. Kuala Lumpur rose three spots and Labuan jumped 11.

Indonesia's Jakarta fell 11 places to 97th while Thailand's Bangkok climbed 12 ranks to 88th. The Philippines's Manila was up a spot to 101st.