The International Financial Center in Vietnam must be put into operation by November 2025.

Photo caption — Prime Minister Pham Minh Chinh chaired a consultation conference with domestic and international experts and organizations on the establishment of an international financial center in Vietnam. Photo: Duong Giang/VNA

Implementing the policy of the Party Central Committee, the Politburo and based on Resolution No. 222/2025/QH15 of the National Assembly on the International Financial Center in Vietnam, it is expected that the Government will establish an International Financial Center located in Ho Chi Minh City and Da Nang. Of which, the Center in Ho Chi Minh City has a scale of about 899 hectares; the Center in Da Nang has a scale of about 300 hectares.

At the conference, delegates focused on contributing ideas and sharing experiences on construction; including proposing mechanisms, policies and solutions to promptly put the International Financial Center into effective operation; legal status of the Executive Body and Supervisory Body of the International Financial Center; operating mechanism - risk management; product framework, market - transaction infrastructure; solutions to attract resources and human resources to the International Financial Center...

According to international economic and financial experts, there are currently about 20 international financial centers in the world that have developed and affirmed their prestige. The construction of an international financial center in Vietnam is necessary and appropriate, serving the development of the country. However, the international financial center in Vietnam must have its own identity and promote its own advantages to be competitive and effective.

Delegates said that the International Financial Center in Vietnam must be progressive, modern, apply high technology, innovate, ensure certainty, transparency, sustainability, but also flexibility; mechanisms and policies must be consistent and predictable; create favorable conditions for businesses, capital, and human resources to enter Vietnam; along with attracting investors and businesses, it is necessary to build an ecosystem to attract experts and people to work and live... International delegates pledged to support and accompany Vietnam in establishing and participating in the International Financial Center in Vietnam.

After discussing in-depth issues of common concern with experts, leaders of financial institutions, ministries, branches and localities, concluding the conference, Prime Minister Pham Minh Chinh respectfully thanked the frank, responsible, strategic and tactical opinions, enthusiasm, practicality, close to reality, and depth in establishing institutions and preparing necessary conditions for establishing an international financial center in Vietnam.

The Prime Minister said that establishing an international financial center is difficult, but no matter how difficult it is, it must be done; not to be perfectionist, not to be hasty, but also not to miss opportunities; must have high determination, great effort, decisive action, work with focus, key points, and complete each task; said must be done, committed must be implemented with results and specific products.

The Prime Minister noted the establishment of an international financial center in Vietnam based on the activities of 20 international financial centers in the world, while promoting creativity, historical and cultural traditions, and the specific conditions and circumstances of Vietnam in the current context. The Prime Minister directed that it is necessary to closely coordinate and cooperate domestically and internationally, between financial institutions and Vietnamese state agencies; combine finance with production, trade and investment; combine national strength with the strength of the times, internal strength with external strength; comply with international laws and practices, and apply them flexibly and creatively in Vietnam's conditions.

The Prime Minister pointed out that the International Financial Center in Vietnam has a Joint Steering Committee headed by the Prime Minister; 2 Executive Boards at 2 locations; 1 supervisory agency; 1 court to resolve disputes at both locations. The Center operates on the basis of digitalization, using artificial intelligence (AI) to improve competitiveness and attract resources.

The Prime Minister requires that the human resources working at the Center must be professional, the elite of both domestic and foreign countries; build conditions to attract experts and workers to ensure the most competitive; create an ecological environment that blends people, society and nature, create favorable living conditions, travel, accommodation, ensure benefits in education, health, culture, sports... to ensure predictability and familiarity; blend tradition and innovation, between the elite of humanity and Vietnam; connect banking and financial agencies with different agencies to promote these centers.

The Prime Minister pointed out that financial and non-financial services, licensing and registration must be flexible, with a focus on post-inspection rather than pre-inspection; the legal framework must be transparent, autonomous, and separate domestic and foreign activities, with certain incentive mechanisms and policies, and analytical tools.

Noting the importance of technology transfer, Prime Minister Pham Minh Chinh pointed out that the International Financial Center in Vietnam must not create barriers to other Centers; must not create barriers between entities within the Center and with the outside. The Center operates not only in finance but also in production, business, trade, investment, ensuring smoothness and competition with other financial centers; administrative procedures must be one-stop, cutting off all unnecessary barriers and administrative procedures.

The Prime Minister requested Ho Chi Minh City and Da Nang to prepare facilities, conditions, mechanisms and policies within their authority so that the International Financial Center can come into operation in November 2025.

The Prime Minister emphasized, “nothing is easy, but nothing is impossible”, “we must turn nothing into something, turn difficult into easy, turn the impossible into possible”, “overcome our own limits to rise up”, “reach out to the ocean, fly high into space and go deep into the earth”.

The Prime Minister pointed out that to do so, we must rely on science and technology, innovation; dare to think, dare to do, dare to rise up and must have resources, which "resources originate from thinking and vision, motivation originates from innovation and creativity, strength originates from people and businesses".

Regarding the proposals of the delegates, the Prime Minister assigned the Ministry of Finance to preside over and coordinate with the Government Office and relevant agencies to research, absorb as much as possible, and advise competent authorities to promptly complete related mechanisms and policies and complete the draft Decree, and submit it to the Government for early promulgation; so that the International Financial Center in Vietnam can come into operation in November 2025.

Source: https://baotintuc.vn/thoi-su/phai-dua-trung-tam-tai-chinh-quoc-te-tai-viet-nam-vao-hoat-dong-trong-thang-112025-20251101122157905.htm