Prime Minister chairs conference on establishment of international financial center

(Chinhphu.vn) - On the morning of November 1, at the Government headquarters, Prime Minister Pham Minh Chinh chaired a conference on establishing an international financial center in Vietnam. The conference was connected online with connecting points in the UK, Czech Republic, Hong Kong (China), and Indonesia.

Prime Minister Pham Minh Chinh speaks at the Conference on the establishment of an international financial center in Vietnam - Photo: VGP/Nhat Bac

Also attending were: Permanent Deputy Prime Minister Nguyen Hoa Binh; Deputy Prime Minister Ho Duc Phoc; Ministers, Heads of ministerial-level agencies, 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.

On June 27, 2025, the National Assembly issued Resolution No. 222 on the establishment of an international financial center in Vietnam. The conference was organized by the Government to listen to the opinions of domestic and foreign experts, scientists , and representatives of international organizations on the improvement of institutions, mechanisms, and policies, especially direct comments on the draft Decree on the establishment of an international financial center in Vietnam.

In his opening remarks at the conference, Prime Minister Pham Minh Chinh stressed that in the digital age 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 play a particularly important role in this process, connecting markets, promoting innovation, governance standards and transparency standards.

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 - Photo: VGP/Nhat Bac

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 soon 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.

In particular, 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; solutions for training and attracting elite human resources...

According to the report of 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, it is expected that the Government will establish an International Financial Center, located in Ho Chi Minh City and Da Nang.

In particular, the development orientation of the Vietnam International Financial Center in Ho Chi Minh City is to have a diverse and modern financial ecosystem; provide specialized financial services, exploit the synergistic and mutual effects of different financial services and support services. The International Financial Center in Ho Chi Minh City develops the capital market associated with financial products, financial derivatives, asset management services, fund management, insurance, green financial products and services; banking system, money market products; develop financial service sectors applying technology (fintech) and innovation...

Delegates attending the Conference - Photo: VGP/Nhat Bac

Meanwhile, the International Financial Center in Da Nang 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 Finance Center in Ho Chi Minh City will have an area of ​​about 899 hectares; the International Finance Center in Da Nang will have an area of ​​about 300 hectares. The Vietnam International Finance Center will begin operating in 2025.

The Government Electronic Information Portal continues to update information about the conference.

Implementing the National Assembly's Resolution on the international financial center in Vietnam, the Prime Minister issued Decision No. 1646/QD-TTg dated August 1, 2025 to establish the Steering Committee on the international financial center in Vietnam and the Steering Committee issued an action plan, in which ministries and branches were assigned to develop 8 decrees, including:

- Decree regulating the establishment of international financial centers in Vietnam;

- Decree guiding financial policies in international financial centers in Vietnam;

- Decree regulating the licensing of establishment and operation of banks, foreign exchange management, anti-money laundering, anti-terrorism financing, anti-proliferation of weapons of mass destruction financing at international financial centers in Vietnam;

- Decree guiding policies on import and export, distribution of goods and services, trading floors, and trading platforms in international financial centers;

- Decree guiding labor, employment and social security in international financial centers;

- Decree guiding land, construction and environmental policies in international financial centers;

- Decree regulating international arbitration centers under international financial centers and the application of laws and dispute resolution at international financial centers;

- Decree guiding residence and immigration policies in international financial centers.

Ha Van

Source: https://baochinhphu.vn/thu-tuong-chu-tri-hoi-nghi-ve-thanh-lap-trung-tam-tai-chinh-quoc-te-102251101091831182.htm