Prime Minister Pham Minh Chinh yesterday signed a decision to establish the Steering Committee for the international financial center in Vietnam (the Committee), with the goal of establishing and operationalizing international financial centers in Ho Chi Minh City and Da Nang by the end of 2025.
The Steering Committee has been established to assist the Government in directing strategies and coordinating to ensure the smooth and consistent operation of the construction, operation, and development of the international financial center in accordance with the National Assembly's resolution.
The head of the committee is Prime Minister Pham Minh Chinh. The Deputy Heads include Permanent Deputy Prime Minister Nguyen Hoa Binh, Secretary of Ho Chi Minh City Party Committee Nguyen Van Nen, Minister of Finance Nguyen Van Thang, Governor of the State Bank of Vietnam Nguyen Thi Hong, and Secretary of Da Nang City Party Committee Nguyen Van Quang. Members of the Steering Committee consist of leaders from relevant ministries and agencies. The Ministry of Finance serves as the standing body.
The Steering Committee is tasked with directing the orientation and strategic development of the international financial center in Vietnam; overseeing the orientation and establishment of institutions and policies applicable within the international financial center in Vietnam to ensure continuity and consistency according to the present regulations. Furthermore, it will direct the establishment and operation of agencies and organizations in the international financial center in Vietnam.
The Steering Committee is also tasked with directing efforts to allocate and mobilize resources for infrastructure development and the establishment of the international financial center in Vietnam. It will lead and organize cooperative activities, consultations, and exchanges with domestic and international agencies and organizations regarding the development of the international financial center, and undertake other related responsibilities as assigned by the Government.
On the same day, Prime Minister Pham Minh Chinh signed a decision to issue the Action Plan for developing international financial centers in Vietnam. Specifically, the target is to establish and operationalize international financial centers in Ho Chi Minh City and Da Nang by the end of 2025.
This marks a significant breakthrough in attracting medium- and long-term financial resources, laying the foundation for Vietnam's socio-economic growth in a new era.
