Beyond Titles
Every government appoints advisory councils. Few attract global attention. The difference is not the title. It is the quality of the people invited into the room.
That is what caught my attention when Vietnam launched the Strategic Advisory Council of the Vietnam International Financial Centre in Ho Chi Minh City. Among the thirteen members are a former German Vice Chancellor, a former United States Ambassador to Vietnam, former chief executives of leading international financial centres, senior academics, market practitioners and one familiar face from EFGH. Our Asia Chief Executive Officer and Co-founder, Chia Hock Lai.
That immediately raised a more interesting question. Why this group?
Building Trust
Vietnam is building the institutions that support an international financial centre. The Strategic Advisory Council has been established to advise the Executive Authority responsible for developing the Vietnam International Financial Centre under the legislative framework adopted by Vietnam. Its role is to contribute independent expertise as Vietnam develops the Centre's strategy, regulatory framework and international positioning.
Thinking Ahead
The Council briefing estimates Vietnam's development investment demand at between US$1.5 trillion and US$1.65 trillion from 2026 to 2030. It also outlines planning scenarios in which the International Financial Centre could attract cumulative capital inflows of between US$15 billion and US$110 billion over its first five years, depending on execution. These are planning scenarios contained in the Council's working papers, not forecasts.
Shared Experience
The Council includes Philipp Rösler, former Vice Chancellor of Germany; Marc Knapper, former United States Ambassador to Vietnam; Jeff Singer, former CEO of Dubai International Financial Centre; Dr Jochen Biedermann, CEO of the World Alliance of International Financial Centers; Don Lam, Founder and CEO of VinaCapital, together with senior academics, financial market practitioners and Chia Hock Lai.
Why It Matters
Chia's appointment is personal. It reflects his own experience and judgement. It should not be interpreted as representing EFGH or as an endorsement of the company by the Vietnamese authorities. Governments establishing institutions of national importance seek a diversity of perspectives and practical experience.
Looking Forward
Investors rightly study financial statements. They should. Financial performance remains the clearest measure of execution. Yet leadership also matters. The people invited into conversations about institutions and markets often reveal something about the experience they have earned over time. That is the perspective I take from Chia Hock Lai's appointment to Vietnam's International Financial Centre Advisory Council.
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