Prime Minister: Mechanisms and policies on the International Financial Center in Vietnam must be transparent and feasible.

The Prime Minister assigned Ho Chi Minh City and Da Nang, according to their authority, functions and tasks, to issue mechanisms and policies, prepare locations and operating apparatus of the International Financial Center before November 15, 2025.

On the morning of November 4, concluding the Government's thematic meeting on 8 decrees guiding the implementation of Resolution No. 222/2025/QH15 of the National Assembly on the International Financial Center in Vietnam, Prime Minister Pham Minh Chinh emphasized that policies on the International Financial Center in Vietnam must be breakthrough, outstanding and follow the principles of openness, publicity, transparency, and the most favorable conditions for participating entities.

Prime Minister Pham Minh Chinh chairs a Government meeting on the International Financial Center in Vietnam. Photo: VNA

The establishment of an International Financial Center in Vietnam has been identified by the Party and State as one of the breakthroughs to liberate resources, promote the transformation of the growth model associated with economic restructuring, attract foreign resources, and contribute to improving national productivity, efficiency and competitiveness.

At the 9th session, the National Assembly passed Resolution No. 222 on the International Financial Center in Vietnam. Subsequently, the Government established a Steering Committee; organized many meetings, and consulted international experience on establishing an International Financial Center in Vietnam. Ministries and branches have drafted 8 Government decrees guiding the implementation of Resolution No. 222/2025/QH15.

At the meeting, the Government listened to the Summary Report of 8 decrees, reported on appraisal opinions and gave opinions and discussed each content of the decrees guiding the implementation of Resolution No. 222 of the National Assembly on the International Financial Center in Vietnam, including: Establishment of the International Financial Center in Vietnam; International Arbitration Center under the Center; licensing of establishment and operation of banks, foreign exchange management, anti-money laundering, anti-terrorism financing, anti-proliferation financing of weapons of mass destruction; establishment and operation of the Commodity Exchange and purchase and sale of goods and services in the International Financial Center. Especially the policy contents on labor, employment and social security; land and environment; finance; entry, exit and residence of foreigners at the International Financial Center in Vietnam.

With the goal of creating a legal framework that is both innovative, competitive, stable, consistent, and capable of operating the Center for successful and sustainable development; ensuring both management and openness to attract relevant entities to participate, the Government members agreed on mechanisms and policies related to the International Financial Center in Vietnam with equivalent incentives, even with superior content compared to the world, suitable for Vietnam's conditions.

Prime Minister Pham Minh Chinh chairs a Government meeting on the International Financial Center in Vietnam. Photo: VNA

After discussing and giving specific opinions on each content of the 8 draft decrees guiding the implementation of Resolution No. 222/2025/QH15 of the National Assembly on the International Financial Center in Vietnam, concluding the meeting, Prime Minister Pham Minh Chinh welcomed and highly appreciated the Deputy Prime Ministers in charge of the fields and the ministers, heads of ministerial-level agencies, government agencies, leaders of ministries, branches and agencies who spent time and effort in developing the 8 decrees, as well as contributed dedicated, responsible and high-quality opinions at the meeting to complete one step of the draft decrees related to the International Financial Center in Vietnam.

In particular, the Government members agreed that the International Financial Center in Vietnam has 1 Steering Committee, 1 Executive Board (2 locations), 1 supervisory agency, 1 court to adjudicate related disputes; the recruitment of human resources working at agencies in the International Financial Center must ensure the highest quality, according to international practices.

The Prime Minister assessed that the draft decrees closely followed the conditions and situation of Vietnam, especially closely followed and concretized the resolutions of the Party and the resolutions of the National Assembly; in accordance with international practices, but more competitive and suitable to the conditions of Vietnam, ensuring transparency, suitability and feasibility.

The policies ensure the principle of one job assigned to one person; maximum decentralization and delegation of authority, coupled with resource allocation, improving the implementation capacity of subordinates, designing monitoring and inspection tools in the direction of increasing post-inspection, reducing pre-inspection, creating convenience for investors. The policies ensure breakthroughs, superiority and follow the principles of openness, publicity, transparency, easy to understand, easy to access, easy to do and easy to check and monitor.

The Prime Minister assigned Deputy Prime Ministers in charge of sectors and fields to direct ministers and heads of ministerial-level agencies to receive and complete draft decrees to be submitted to the Government for promulgation before November 15, 2025. Ho Chi Minh City and Da Nang City, according to their authority, functions and tasks, shall issue mechanisms and policies, prepare locations and complete operating apparatus before November 15, 2025.

With the goal of the International Financial Center in Vietnam being operational from November 2025, the Prime Minister requested that ministries, branches and the two localities be proactive, active, accelerate, break through, effectively and creatively perform tasks to ensure time and quality requirements; if any problems arise during the implementation process, they must be reported immediately to the Government and the Prime Minister for timely direction and handling./.

Source: https://hanoimoi.vn/thu-tuong-co-che-chinh-sach-ve-trung-tam-tai-chinh-quoc-te-tai-viet-nam-phai-thong-thoang-kha-thi-722078.html