Strive to put the International Financial Center in Vietnam into operation in November 2025

(Chinhphu.vn) - Prime Minister Pham Minh Chinh has just signed Official Dispatch No. 211/CD-TTg on the establishment of an international financial center in Vietnam.

Strive to put the International Financial Center in Vietnam into operation in November 2025.

Telegrams sent to the Ministers of Finance, Public Security, Industry and Trade, Agriculture and Environment, Home Affairs, Justice; Governor of the State Bank of Vietnam; Chairman of the People's Committee of Ho Chi Minh City; Chairman of the People's Committee of Da Nang City.

The dispatch stated: On November 1, 2025, at the Government Headquarters, the Prime Minister chaired a Conference on the establishment of an international financial center in Vietnam to listen to ministries, agencies, and international consultants present their experiences in the operation and organizational model of an international financial center.

Identify this as a new, difficult, and important task that needs to be implemented resolutely, effectively, and feasibly with the spirit of (i) not being perfectionist, not being hasty, and not missing opportunities; (ii) Implement with high determination, act resolutely, make every effort, work with focus, key points, complete each task, do what is said, do what is committed, have specific and measurable results, the Prime Minister requests the Ministers, Heads of Ministries, agencies: Finance, Public Security, Industry and Trade, Agriculture and Environment, Home Affairs, Justice, State Bank of Vietnam, the Chairmen of the People's Committee of Ho Chi Minh City, the Chairman of the People's Committee of Da Nang City to continue to resolutely and effectively implement the tasks assigned by the Prime Minister, Head of the Steering Committee for the construction of the International Financial Center in Decision No. 114/QD-BCDTTTC dated August 1, 2025; in which focus on implementing the following key tasks and solutions:

International financial center in Vietnam operates on the basis of digitalization and artificial intelligence

1- The Ministry of Finance and the Ministries and agencies: Public Security, Industry and Trade, Agriculture and Environment, Home Affairs, Justice, State Bank of Vietnam proactively coordinate closely with the People's Committee of Ho Chi Minh City and the People's Committee of Da Nang City to promptly complete the guiding Decrees, ensuring compliance with the conclusions of the Politburo, Resolution No. 222/2025/QH15 of the National Assembly, the correct process of drafting legal documents, in accordance with international practices, flexible and creative application in the conditions of Vietnam, reporting to the Government to issue Decrees before November 15, 2025, in which reviewing, carefully researching, reviewing and considering the following contents to report to competent authorities:

a) Study the plan to have 01 Steering Committee to represent the Government in directing the development of the International Financial Center, with members including the Minister of Finance, Governor of the State Bank of Vietnam, and a number of other Government members. related, leaders of Ho Chi Minh City, Da Nang City; has 01 Executive Agency and 02 branches in Ho Chi Minh City, Da Nang City; 01 Supervisory Agency to set standards, general supervision to save resources; has 01 Dispute Resolution Agency for both locations of the Center (including specialized courts and international arbitration).

b) The international financial center in Vietnam operates on the basis of digitalization, artificial intelligence, high competitiveness, publicity and transparency to attract resources for development; there are no barriers with other international financial centers, no physical barriers between members in the Center, ensuring connection, communication, synchronization, mutual support and promotion for mutual development.

c) The activities of the International Financial Center must ensure cohesion among the members of the Center, especially the banking and financial sectors and related agencies, to contribute to the development of the Center, while not limiting commercial, investment and service activities within the Center.

d) Research and develop a flexible and effective licensing and registration mechanism, with the most convenient and fastest administrative procedures; completely eliminate unnecessary administrative procedures; increase post-inspection, reduce pre-inspection and must have effective inspection and monitoring tools, associated with maximum decentralization and delegation of authority, along with reasonable and effective resource allocation.

d) The legal framework of the Center is in accordance with international standards, equal, transparent, clear, promoting the autonomy of each location, separating domestic and foreign activities, inside and outside the Center but still having complementarities, supporting and promoting each other for effective development. There is a technology transfer mechanism during the operation of the International Financial Center, focusing on transferring smart and modern management technology, promoting the human factor.

Create the most favorable and competitive conditions to attract experts to work in the International Financial Center

2- The People's Committee of Ho Chi Minh City and the People's Committee of Da Nang City proactively coordinate closely with the Ministry of Finance, the State Bank of Vietnam and relevant agencies, according to their functions, tasks and authority, to urgently carry out the following tasks:

a) Urgently issue incentive mechanisms and policies within authority and create the most favorable working and living environment possible to attract international investors, ensuring living conditions, benefits in health, insurance, education, culture, and sports, to be completed before November 20, 2025.

b) Select high-quality, professional personnel to work in the International Financial Center, combining domestic and foreign experts to absorb international quintessence and intelligence into Vietnam. Create the most favorable and competitive conditions to attract experts to work in the International Financial Center. Urgently propose and report to the Ministry of Finance on specific personnel before November 20, 2025 for synthesis and reporting to the Prime Minister.

c) Urgently prepare facilities, technical infrastructure, and necessary conditions to strive to put the International Financial Center in Vietnam into operation in November 2025, publicly announce incentive mechanisms and policies, and attract investment according to the authority of each city, create momentum, create momentum, create force, and call for investment. investors, promoting the strength of two cities with the common strength of the whole country.

3- Assign the Government Office to monitor and urge ministries and agencies to seriously implement this Official Dispatch; promptly report to the Prime Minister and Deputy Prime Ministers in charge of any urgent or arising issues. Assign Permanent Deputy Prime Minister Nguyen Hoa Binh to continue directing and resolving issues within his authority; and report to the Prime Minister if beyond his authority./.

Source: https://baochinhphu.vn/phan-dau-cao-nhat-dua-trung-tam-tai-chinh-quoc-te-tai-viet-nam-vao-hoat-dong-trong-thang-11-2025-102251107173356708.htm