Focusing on building HCMC into leading economic, financial center in country

Vice Chairman of the HCMC People’s Committee Vo Van Hoan gave a speech on building HCMC into the leading economic and financial center in the country at a plenary session of the 32nd National Diplomatic Conference on December 21.

Vice Chairman of HCMC People's Committee Vo Van Hoan speaks at the event. (Photo: SGGP)

The conference aims to promote the pioneering role, build a comprehensive, modern, and strong diplomacy, and successfully implement the Resolution of the 13th Party Congress.

According to Vice Chairman of HCMC People's Committee Vo Van Hoan, the Party Committee and government of the city have paid attention to developing the financial market since the early 2000s and identified the sector as one of the priority fields in the process of economic restructuring and formed the idea of building an international financial center in the southern metropolis.

The Party and Government are also very interested in developing HCMC into a special urban area, a leading center for the economy, finance, and service of the country. In October 2023, the Government issued a decision to establish a Steering Committee for formulating the regional and international financial center project. Head of the Steering Committee is Deputy Prime Minister Le Minh Khai.

According to the Global Financial Center Index in March 2020, HCMC was evaluated as a secondary financial center. A favorable investment and business environment, rapid and stable economic growth, and a dynamic financial market that have been developed over the past decades are solid factors and favorable conditions for the establishment and development of an international financial center in HCMC.

At the plenary session of the 32nd National Diplomatic Conference on December 21 (Photo: SGGP)

The Vice Chairman of the HCMC People's Committee affirmed that the development of the city's financial center also has a significant contribution from sources of external finance through economic diplomacy activities that have been strongly strengthened to resume socioeconomic activities and build the city's image after the Covid-19 pandemic.

HCMC’s leaders usually participate in meetings with the foreign business community to listen to and solve their problems and pay attention to trade promotion activities to attract investment for economic development, especially an International Financial Center in the city.

In the coming time, HCMC will carry out a number of tasks, including building a brand and promoting the international images of a friendly, dynamic, safe city, and an attractive destination for tourists and investors; Promoting the implementation of commitments and cooperation projects and programs of the city and international partners effectively; strengthening tasks relevant to overseas Vietnamese (OV) affairs to attract intellectual resources and remittances; making preparation for land funds, planning, infrastructure, human resource to meet investors’ requirements; building policies that are better than international financial centers in the ASEAN region, completing legal system; ensuring transparency and safety for financial investors; and giving priority to international investors to invest in the International Financial Center in HCMC.

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