Special mechanisms granted to localities to operate int’l financial centers

Permanent Deputy Prime Minister Nguyen Hoa Binh had a working session with leaders of Da Nang City to discuss the development of the construction project of an International Financial Center on June 21.

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Permanent Deputy Prime Minister Nguyen Hoa Binh chairs a working session with leaders of Da Nang City to discuss the development of the construction project of an International Financial Center on June 21. (Photo: SGGP)

The Permanent Deputy Prime Minister and delegates also reviewed the implementation of the Politburo’s Conclusion No. 77-KL/TW on orientations to handle impacts of the Covid-19 pandemic to support economic recovery and national development and National Assembly Resolution No. 170/2024/QH15 on a specific mechanism to remove difficulties and obstacles related to projects and land in inspection, examination, and judgment conclusions in a number of provinces and cities.

During the working session, Permanent Deputy Prime Minister Nguyen Hoa Binh said that the central government, in coordination with relevant ministries and agencies, is drafting a resolution to be submitted to the National Assembly. The proposed resolution would establish a special mechanism, granting greater authority to both the central government and local administrations to facilitate the smooth and flexible operation of International Financial Centers in Da Nang and Ho Chi Minh City.

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At the working session (Photo: SGGP)

Once the resolution is passed by the National Assembly, the construction projects of financial centers in both cities will officially be kicked off. This marks a strategic and practical move aimed at accelerating national economic growth, requiring swift and decisive action from all stakeholders.

Permanent Deputy Prime Minister Nguyen Hoa Binh requested that Da Nang take proactive responsibility for key preparatory tasks, including urban planning, adjustments to existing development plans, human resource development, IT infrastructure readiness, and investment promotion activities. The central government will formulate a comprehensive action plan, encompassing both national and local-level programs, to ensure coordinated and synchronized implementation of the International Financial Center project.

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