Putting the International Financial Center in Vietnam into operation in November 2025

On November 1, Prime Minister Pham Minh Chinh chaired a conference on the establishment of an international financial center in Vietnam. Also attending were Deputy Prime Minister Nguyen Hoa Binh, Deputy Prime Minister Ho Duc Phoc, leaders of ministries, departments, sectors, Da Nang city, and Ho Chi Minh city.

Prime Minister Pham Minh Chinh said that he will consult the experiences of international financial centers so that Vietnam can choose the best option to build and perfect the legal corridor for establishing and developing an international financial center in Vietnam. Thereby, inheriting and absorbing effective methods from the world , while promoting human creativity, historical and cultural traditions, in accordance with the specific conditions and circumstances of Vietnam in the current international context.

The government plans to establish two executive agencies in two localities, but one is a joint supervisory agency, and one court to resolve disputes. The center will operate on the basis of digitalization, artificial intelligence (AI), be highly competitive, and attract development resources. People must be professional, including domestic and foreign experts to absorb the essence and international wisdom that has been summarized but nationalized to Vietnamese conditions.

The Prime Minister stated that to attract experts, it is necessary to have the most favorable and competitive mechanisms and policies, creating a harmonious ecosystem between people, society and nature. Da Nang City and Ho Chi Minh City need to maximize and create favorable living conditions in terms of transportation, living, education , health, culture, sports, etc. Along with that, connecting banking, financial and other agencies to contribute to promoting these centers. Financial and non-financial service agencies need to grant flexible licenses, mainly post-inspection, reducing pre-inspection.

The international financial center in Vietnam does not create barriers to other centers, nor does it create barriers from members within the center to the outside. The center operates not only in finance but also in production, business, trade, and investment, but ensures that these activities are smoothly combined.

The legal framework must be transparent, autonomous, with certain incentive mechanisms and policies. In the process of forming and developing the center, technology transfer must be carried out, and people must be considered the decisive factor.

Regarding administrative procedures, the Prime Minister clearly stated the spirit of one door, one stamp, one person to do it; removing unnecessary barriers and administrative procedures.

Ho Chi Minh City and Da Nang prepare the necessary conditions, issue and publicly announce specific policies and regulations within their authority. The two localities must urgently, publicly and transparently create momentum, create force, create momentum; promote the strength of the two cities in combination with the strength of the whole country. To do so, science, technology and innovation must be the main foundations.

The Prime Minister requested the agencies assigned to draft the decree to continue updating and soon complete the draft decree on the International Financial Center in Vietnam, submit it to the Government for approval in the coming days, and make efforts to put the International Financial Center into operation this November.

Source: https://baodanang.vn/dua-trung-tam-tai-chinh-quoc-te-tai-viet-nam-hoat-dong-trong-thang-11-2025-3309011.html