According to the Politburo's conclusion, an international financial center in Ho Chi Minh City and a regional financial center in Da Nang will operate under exceptional management mechanisms that enhance competitiveness while implementing appropriate risk management and oversight protocols.
Presiding over a meeting on May 10 between the permanent Government members and ministries, sectors, and localities regarding the construction of such a center, PM Chinh highlighted that the center aims at luring resources for rapid and sustainable development, supporting the implementation of the three strategic breakthroughs, and promoting green economy, digital economy, and circular economy. Besides, it is expected to bolster three traditional growth motives and emerging drivers as well as foster startups and innovation.
The leader called for new reports and proposals to be submitted to the Politburo, incorporating feedback from the Politburo and relevant agencies. Related units must finalize drafts of the Politburo's conclusion, the National Assembly's resolution, and the Government's action plan on establishing the center, with clear assignments of responsibilities, timelines, deliverables, and authority.
The documents must analyze Vietnam's advantages, evaluate positive impacts alongside challenges and risks, propose risk mitigation measures, and recommend a distinct strategic approach for Vietnam's international financial center. They should identify priority areas and propose breakthrough policies for development, balancing regulatory frameworks with openness. Additionally, modern infrastructure with accessibility and smart human resources must be prioritised, according to the Government leader.
He stated that proposals must clearly define strategies for attracting both direct and indirect foreign capital from public and private sectors in both physical and virtual environments and determine financial resources at financial centers. They should identify development zones for financial centers' infrastructure, anticipate staffing needs, and outline management structures, he added.
PM Chinh underscored that the financial centre development must be resolutely accomplished by the 13th Party Congress Resolution and the Politburo's directives to support rapid and sustainable national development.
He assigned Permanent Deputy Prime Minister Nguyen Hoa Binh to direct ministries, agencies, and localities in reviewing tasks and completing the reports, proposals, and draft documents, ensuring both progress and quality.
According to the Politburo's conclusion on establishing a comprehensive international financial center in Ho Chi Minh City and a regional financial center in Da Nang, these facilities will operate under exceptional management mechanisms that enhance competitiveness while implementing appropriate risk management and oversight protocols.
Over the past time, the PM has directed numerous meetings with ministries, agencies, and the authorities of Ho Chi Minh City and Da Nang to develop the financial center proposal. These discussions have focused on key strategies, including developing modern financial infrastructure, building leading payment and securities trading systems, attracting international talent with competitive incentives, and creating an appealing living and working environment for leading global financial experts.
Other priorities include promoting financial innovation with new instruments such as green finance, financial technology (fintech), and financial risk management; expanding international integration; and ensuring financial security through enhanced oversight and risk management to maintain system stability.
