Prime Minister: Building an international financial center, once done, must be successful

Prime Minister Pham Minh Chinh noted that liberalizing business activities must have a roadmap suitable for the economy - Photo: VGP

On the afternoon of May 22, Prime Minister Pham Minh Chinh chaired a meeting to continue discussing and giving opinions on the National Assembly 's draft resolution on building an international financial center in Vietnam.

Many important issues about international financial centers

At the meeting, delegates continued to give their opinions on the draft resolution of the National Assembly - this is the 29th draft after many amendments and supplements.

The issues discussed at the meeting included: the goal of building an international financial center; the model of an international financial center in Vietnam; development orientations and key areas; members and main products of the financial center; specific policies and mechanisms; infrastructure, human resources and visas; the application of international institutions and practices; the issue of liberalization of foreign exchange and banking activities; dispute resolution according to international standards, etc.

In his concluding remarks, Prime Minister Pham Minh Chinh highly appreciated the preparation of the agency in charge of drafting the draft, the dedicated, responsible and quality opinions; requested to absorb the maximum opinions, continue to perfect the draft resolution one step further.

The spirit is to learn from experience while doing, gradually expand, not be too perfectionist, not hasty; if you do something, you must succeed, you must win, and make sure you do it well, according to the head of the Government.

The Prime Minister also stated that Vietnam has set two 100-year goals (by 2030, it will be a developing country with modern industry and high average income; by 2045, it will become a developed country with high income). To achieve this, it is necessary to have double-digit economic growth and create a favorable environment, the Prime Minister emphasized.

However, to achieve double-digit growth, we need capital, while we are lacking capital. Therefore, the Prime Minister believes that we must build and develop an international financial center to supplement financial resources for the two 100-year goals.

Policy must be superior to existing financial centers in the region and the world.

The Prime Minister said that to achieve the set goals of building an international financial center, the legal environment must be competitive, transparent, progressive, and open; the infrastructure must be modern and advanced; the human resources must be professional and high-quality; there must be necessary conditions to operate the center; and management must be smart and modern.

All of these points must be superior to existing financial centers in the region and the world; especially ensuring property rights, ensuring freedom and creativity in business, freedom of movement, convenient entry and exit, favorable visa policies, and creating a superior living environment.

The specific goals are to attract capital for rapid, green, and sustainable national development, especially medium and long-term capital, establish and provide modern financial services to the world; develop digital currency in line with the general development trend and conditions of Vietnam.

At the same time, it is necessary to ensure the free circulation of capital and legal profits in accordance with international practices and Vietnamese conditions, and not to exploit or manipulate Vietnam's resources to move abroad in violation of regulations.

The Prime Minister emphasized that this is a free and beneficial playground, but with harmonious benefits and shared risks among related entities; attracting both direct and indirect capital, both in the State and private sectors.

The Head of Government noted that business activities should be liberalized but with a roadmap suitable for the economy; all types of licenses should be eliminated after planning, standards, and regulations have been established and post-inspection should be strengthened; the center should be operated according to market mechanisms and a specialized court should be established at the center...

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BINH KHANH

Source: https://tuoitre.vn/thu-tuong-xay-dung-trung-tam-tai-chinh-quoc-te-da-lam-la-phai-thanh-cong-20250522220436207.htm