80 years of Vietnamese independence: striving for a modern nation – an interview with Michael Peter Wekezer

1. How do you assess Vietnam's current economic position within ASEAN and its prospects of surpassing Thailand by 2028?

Vietnam today stands out as one of ASEAN's most dynamic economies, attracting a substantial influx of foreign direct investment from across Asia, Europe and especially the U.S.

In addition, Vietnam aspires to achieve high-income status and has already laid the foundations for resilient growth by focusing on high value sectors such as diversified exports, capital market development and renewable energy, which further reinforce its integration into global supply chains through trade agreements.

Concurrently, robust domestic consumption is emerging, supported by a reform-oriented government that is easing administrative bottlenecks; while ongoing investment in infrastructure, and human capital with a labor force of nearly 60 million with the support of competitive wages and an entrepreneurial population.

Looking ahead, I believe Vietnam's economy is on track to surpass Thailand in the next several years and could soon emerge as a leading economy in ASEAN, in terms of scale, when compared with countries like Indonesia, Malaysia or Singapore, as reflected in recent figures and average annual GDP growth rates.

2. In your opinion, what is the greatest advantage for Ho Chi Minh City to rise as a regional financial and commercial hub?

Ho Chi Minh City holds a unique advantage in its geographical location at the heart of ASEAN, making it a natural gateway for trade and investment flows across the region. As I have already mentioned, the city also benefits from a young, skilled, and increasingly internationalized workforce that supports the growth of financial and commercial services. Its long history of attracting foreign direct investment since the 1990s has created a strong foundation of international business networks and investor confidence.

With ongoing investments in infrastructure, digital transformation, and sustainable finance, Ho Chi Minh City is well-positioned to emerge as a dynamic regional financial and commercial hub. Notably, as you may know, Resolution No. 222/2025/QH15 passed by the National Assembly and entering into force at the time of this interview, provides for the establishment of the country's first International Financial Centre in Ho Chi Minh City, targeted for launch by the end of 2025. This significant step is expected to lay the foundation for a regulatory framework aimed at transforming the city into a globally competitive financial and commercial hub.

3. How will key infrastructure projects such as Long Thanh International Airport and the seaport system impact businesses and the overall business environment?

Infrastructure is the backbone of sustainable economic development. Projects like Long Thanh International Airport and the expansion of Vietnam's seaport system will significantly enhance international and regional connectivity, enabling businesses to move goods and passengers more efficiently. Concurrently, these developments will help ease congestion, strengthen logistics capabilities, and position the region as a premier aviation hub.

Upgrading the seaport system is equally critical. With Vietnam's deep integration into free-trade frameworks such as CPTPP, EVFTA and RCEP; the country's ports are rapidly evolving into strategic maritime transit points. The introduction of smart port technologies and streamlined operations will improve turnaround times, reduce costs, and attract international logistics players. 

Beyond trade and connectivity, infrastructure investments also act as catalyst for domestic growth- generating employment, enhancing linkages across industrial zones, and fostering the adoption of advanced technologies. Continued investment in modern, resilient infrastructure will be essential to strengthen Vietnam's competitiveness and its attractiveness to global investors.

4. Compared to other major cities in ASEAN, what should Ho Chi Minh City change or improve to enhance its competitiveness?

To enhance its competitiveness compared to other major cities in ASEAN, Ho Chi Minh City must continue to prioritize long-term investments in infrastructure and education, thereby creating a workforce and urban system that can match regional leaders.

Equally, the city should incentivize investment in strategic sectors such as high technology and digital innovation. By doing so, Ho Chi Minh City can position itself as a leading innovation hub in the region.

Finally, it is essential to drive the green agenda- through clean energy, green mobility, and urban sustainability initiatives. If the city can align growth with sustainability, it will not only enhance the quality of life for its citizens but also solidify its position as a forward-looking and competitive regional hub.

5. How is your company preparing to seize the opportunities of deeper integration into regional and global markets?

At Rödl & Partner Vietnam, we are preparing to seize the opportunities of deeper integration into regional and global markets by expanding our role as a trusted partner for both international and regional investors. We provide integrated professional services not only to European clients entering Vietnam and ASEAN, but also for Southeast Asian companies pursuing cross-border opportunities within the region. Our hallmark remains the delivery of German quality standards- precision, reliability, and consistency; which are highly valued by global businesses. Concurrently, we are advancing digitalization and automation across our service lines, ensuring that our clients benefit from smoother processes, greater transparency, and improved efficiency.

By combining international quality with local expertise, and leveraging technology to add value, Rödl & Partner Vietnam is well-positioned to guide clients through the next phase of ASEAN's integration and global connectivity.

6. If you could propose one priority policy recommendation for Ho Chi Minh City over the next 5 – 10 years, what would it be?

If I were to recommend one policy priority for Ho Chi Minh City in the next 5–10 years, it would be to establish a comprehensive regulatory, investment and infrastructure framework for the city to serve as a regional hub for logistics and services. This in addition to Ho Chi Minh City (with its surrounding areas) being an established manufacturing hub.

This strategy would also further benefits generated out of Ho Chi Minh City's merger with Binh Duong and Ba Ria – Vung Tau provinces, effective from 1 July 2025, forming Vietnam's first megacity. The merger is designed to consolidate infrastructure, ports, logistics, and industrial zones, creating a cohesive ecosystem aligned with the needs of a city to evolve from a successful manufacturing hub into a regional center for logistics, finance, and professional services.

This strategic reorganization will reflect the broader ambition of Vietnam, and Ho Chi Minh City in particular- not only to become globally competitive and capture greater value in global supply chains, but also to strengthen its position as a key growth driver within ASEAN. ​