Prime Minister chairs conference on establishing international financial center in Vietnam

Prime Minister Pham Minh Chinh suggested that at the conference, delegates focus on contributing ideas and supplementing international and domestic experience in building an international financial center.

On the morning of November 1, at the Government Headquarters, Prime Minister Pham Minh Chinh chaired the Conference on establishing an international financial center in Vietnam.

Prime Minister Pham Minh Chinh speaks at the Conference.

The conference was held directly at the Government Headquarters, online with connecting points in the UK, Czech Republic, Australia, Hong Kong (China), and Indonesia.

Also attending were: Permanent Deputy Prime Minister Nguyen Hoa Binh; Deputy Prime Minister Ho Duc Phoc; Ministers, Heads of ministerial-level agencies, relevant Government agencies; leaders of Ho Chi Minh City and Da Nang; leaders of financial institutions, corporations, banks, enterprises, investment funds, law firms, and domestic and international auditing firms.

Opening the conference, Prime Minister Pham Minh Chinh emphasized that in the digital era and deep integration, the flow of capital, technology and knowledge between countries, regions and on a global scale is increasingly promoted at an unprecedented speed.

International financial centers have a particularly important role to play in this process, connecting markets, promoting innovation, governance standards and transparency standards.

Conference scene.

For Vietnam, the Prime Minister said that the construction of an international financial center is not only to attract investment resources, keep pace and connect with the world, but also to build new and effective mechanisms, policies and governance models; contributing to creating momentum to promote socio-economic development, especially economic growth of 8% or more in 2025 and double digits from 2026 onwards, towards the successful implementation of the two 100-year strategic goals.

Therefore, accelerating the construction and early operation of the International Financial Center will contribute to clearly positioning and connecting Vietnam with the global financial network; promoting future financial models (digital assets, carbon credits, commodities-derivatives, green finance, sustainable finance); and at the same time contributing to the effective implementation of strategic breakthroughs in institutions, human resources, infrastructure as well as recent policies of the Politburo.

To establish, operate and promote the effectiveness of the International Financial Center in Vietnam, the Prime Minister requested that at the conference, delegates focus on contributing ideas and supplementing international and domestic experience in building an International Financial Center.

Mr. Arnaud Ginolin - CEO and member of the Board of Members of BCG Vietnam spoke.

Among them, it is clearly proposed what mechanisms, policies and solutions are needed to promptly put the International Financial Center into effective operation; what is the legal status of the executive agency and the Supervisory Agency according to the model; what should be noted about the operating - risk management mechanism; what specific solutions are needed for the product - market - transaction infrastructure framework; and solutions for training and attracting elite human resources.

According to the Ministry of Finance, 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, the Government is expected to establish an International Financial Center, located in Ho Chi Minh City and Da Nang.

Among them, the development orientation of the Vietnam International Financial Center in Ho Chi Minh City is to become an international financial center with a diverse and modern financial ecosystem; providing specialized financial services, exploiting the synergistic and mutual effects of different financial services and support services.

Delegates attending the Conference consulted domestic and international experts and organizations on the establishment of an international financial center in Vietnam.

The International Financial Center in Ho Chi Minh City develops capital markets associated with financial products, financial derivatives, asset management services, fund management, insurance, green financial products and services; banking system, money market products; develops financial service sectors applying technology (fintech) and innovation.

Meanwhile, the Vietnam International Financial Center in Da Nang city is associated with an innovation ecosystem and the application of strategic technologies; developed on the basis of technology infrastructure and innovation, operating stably, transparently, in accordance with international practices and in line with development trends; providing market and financial organization services, attracting international capital, large investors, developers, startups, technology experts with global thinking and talents in the financial sector to work and create outstanding value based on a friendly living and working environment, with identity, high-quality services, security and transparent governance.

It is expected that the International Financial Center in Ho Chi Minh City will have a scale of about 899 hectares; the International Financial Center in Da Nang will have a scale of about 300 hectares.

Vietnam International Financial Center will begin operations in 2025.

According to VNA

Source: https://baobacninhtv.vn/thu-tuong-chinh-phu-chu-tri-hoi-nghi-ve-thanh-lap-trung-tam-tai-chinh-quoc-te-tai-viet-nam-postid430148.bbg