Prime Minister Pham Minh Chinh , Head of the National Steering Committee on the International Financial Center in Vietnam, gave a directive speech.
On the morning of August 2, Prime Minister Pham Minh Chinh chaired a conference to disseminate and implement the National Assembly 's Resolution on the International Financial Center in Vietnam; and launched the National Steering Committee and the Action Plan to implement the construction of the International Financial Center in Vietnam.
The event was held live in Ho Chi Minh City, online with a connection point in Da Nang city.
Also attending were: Permanent Deputy Prime Minister Nguyen Hoa Binh; Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen; leaders of ministries, branches, and central agencies; leaders of Ho Chi Minh City and Da Nang City; representatives of diplomatic agencies, organizations, and domestic and foreign experts.
According to Resolution No. 222/2025/QH15 of the National Assembly, the International Financial Center is an area with defined geographical boundaries established by the Government located in Ho Chi Minh City and Da Nang City.
Prime Minister Pham Minh Chinh chaired the Conference to disseminate and implement the National Assembly's Resolution on the International Financial Center in Vietnam.
With 6 chapters and 35 articles, the National Assembly Resolution stipulates that the International Financial Center will be located in two cities but will have unified operations, management and supervision; have separate product development orientations, promote the strengths of each city; operate according to advanced international standards, and connect with major markets and financial centers in the world.
After the National Assembly issued Resolution No. 222/2025/QH15, the Prime Minister decided to establish a Steering Committee on the International Financial Center in Vietnam to assist the Government in directing orientation, strategy, and coordination to ensure smooth and consistent operation of the construction, operation, and development of the Center, with Prime Minister Pham Minh Chinh as Head of the Steering Committee.
Next, the Prime Minister, Head of the Steering Committee, issued an Action Plan to implement the construction of an International Financial Center in Vietnam, with the goal of establishing and putting into operation an International Financial Center in Ho Chi Minh City and Da Nang City by the end of 2025.
In the coming time, the Steering Committee will continue to build and perfect a specific legal framework for the International Financial Center; synchronously develop infrastructure and essential services; build a modern financial ecosystem; and establish an effective coordination and supervision mechanism at the Center.
At the conference, leaders of Ho Chi Minh City and Da Nang City presented the local Action Plan on building an International Financial Center.
Representatives of countries and international financial organizations highly appreciated the establishment of the Center in Vietnam; shared experiences and expressed their commitment to join hands to contribute and participate in building and developing the Center.
Speaking at the event, Prime Minister Pham Minh Chinh, Head of the Steering Committee, emphasized that the establishment of an International Financial Center in Vietnam has important strategic significance in attracting international investment capital flows, technology and high-quality human resources to promote economic growth and enhance the country's position and competitiveness.
The Prime Minister said that the event strongly demonstrated the strategic vision, political determination and consensus of the entire political system, the participation of the business community, and valuable support from international organizations and development partners, for the goal of successfully building an International Financial Center of Vietnam, of regional and world stature.
According to the Prime Minister, Vietnam is entering a new era, an era of strong, civilized, and prosperous development of the nation with the priority of successfully implementing two 100-year strategic goals by 2030 and 2045.
To achieve those strategic goals, the Party and State set a growth target of over 8%, the Government aims to achieve a growth target of 8.3-8.5% or more in 2025 and double digits in the coming period, while promoting the implementation of strategic breakthroughs with open institutions, smooth infrastructure, and smart human resources.
The Prime Minister said that to achieve double-digit growth, we must have a lot of capital. While we are lacking capital, building and developing an International Financial Center in the current period is an inevitable and important task. The Party, the State, the National Assembly and the Government have identified building an International Financial Center as a strategic breakthrough in terms of institutions and policies, with many specific mechanisms and policies being applied and continued to be perfected.
“This is an important decision to free up resources, promote the process of transforming the growth model associated with economic restructuring, thereby enhancing Vietnam's position in the global value chain of finance, investment and high-end services, associated with promoting rapid and sustainable growth,” the Prime Minister pointed out.
The Head of Government affirmed that the successful construction of the International Financial Center will bring strategic and comprehensive benefits, playing an important role in helping Vietnam achieve the following goals: Expanding connections with the global financial market, thereby attracting financial institutions and international investment flows, while optimizing and promoting domestic resources; developing a modern, international-standard financial-banking service ecosystem, meeting the increasing needs of businesses and investors.
At the same time, it creates a breakthrough in quality for the Vietnamese financial market, helping the market operate transparently, effectively, and approaching international standards; enhancing the role, prestige and influence of Vietnam in the international arena, helping the country participate more deeply in the global economic value chain; consolidating the foundation of a self-reliant, strong and sustainable economy, contributing to protecting national financial security, maintaining political stability and social order and safety.
Prime Minister Pham Minh Chinh assessed that the successful construction and development of the International Financial Center in Ho Chi Minh City and Da Nang according to a suitable and scientific implementation roadmap and based on a cooperative model instead of competition, will create a combined strength to help the International Financial Center in Vietnam make a breakthrough, affirming Vietnam's new position on the global financial map.
The Prime Minister requested to thoroughly grasp the spirit of "doing and learning from experience"; absolutely "not being perfectionist, not being hasty"; leaders and managers must "look far and wide, think deeply and do big things"; "doing things must be done with certainty, doing things must be successful, must win"; and "doing things must be successful" to bring benefits to the country, the people, the development of businesses, happiness and prosperity to the people, contributing to stability, cooperation and development in the region and the world.
Pointing out that “The Party has led, the National Assembly has agreed, the Government has agreed, the people have agreed, businesses have accompanied, and international friends have supported; only discuss action, not retreat”, the Prime Minister requested to build and implement a policy to develop the International Financial Center with breakthrough, special and outstanding incentives; human resources must be professional, high quality; there must be necessary infrastructure conditions to operate a modern center; governance must be smart; ensuring a balance of interests between the State, investors and people in the spirit of harmonizing interests and sharing risks.
An International Financial Centre is a unique institutional design, with specific geographical boundaries, its own legal regulations, its own specialized regulatory apparatus, and its own policy experimentation space; where laws are designed to allow new models to operate within a controlled framework.
Stating that at the International Financial Center, institutions are the pioneers, infrastructure is the foundation, and human resources are the key, the Prime Minister pointed out that Vietnam develops the Center not only to welcome investors, but also to proactively lead new financial models, creating space for digital assets, carbon credits, digital banks, commodity and derivatives exchanges - the pillars of future finance; creating spillover effects between new financial models and the real economy, serving production.
The construction and development of an International Financial Center must ensure harmony and balance between financial freedom and financial safety; operate on the principles of transparency, have effective supervision, have a crisis response mechanism and comply with international law.
Prime Minister Pham Minh Chinh, Head of the National Steering Committee on International Financial Center in Vietnam and members of the Steering Committee.
Specifying that from September 1, 2025, the International Financial Center in Vietnam must be put into operation, Prime Minister Pham Minh Chinh requested ministries, branches and central agencies to urgently develop documents guiding the Resolution of the National Assembly so that Ho Chi Minh City and Da Nang have a legal basis to establish an executive agency and a supervisory agency, and soon put the International Financial Center into operation; closely coordinate with financial institutions in Vietnam and internationally, consult on policies based on international experience; regularly update and perfect the institutional framework for the Center to ensure the maintenance of new, competitive mechanisms, not to fall behind and the attractiveness of the International Financial Center in Vietnam to international investors.
Prime Minister Pham Minh Chinh directed Ho Chi Minh City and Da Nang City to allocate resources, prepare basic conditions and create favorable conditions for the development of the International Financial Center, including institutions, human resources, infrastructure for the construction and operation of the Center; mobilize, approach and attract strategic investors, financial institutions, banks, investors to participate and invest in the International Financial Center in the locality; maintain and expand cooperation with domestic and international partners in the financial sector in the process of building and developing new financial services and products, building mechanisms, policies and outstanding incentives.
“Ho Chi Minh City and Da Nang continue to study the contributions and recommendations of organizations, the business community, and international experts on financial fields and services that can be developed in the Financial Center to increase competitiveness, ensuring that the two locations develop harmoniously and complement each other,” the Prime Minister noted.
Emphasizing that the construction of an International Financial Center is a new, difficult and unprecedented issue for Vietnam, with the viewpoint of not waiting for all conditions to be met before doing it, the Prime Minister pointed out that during the implementation process, conditions will be created, capacity will be formed, lessons will be drawn and a development model will be created.
With the motto "Breakthrough thinking - Decisive action - Substantial results", Prime Minister Pham Minh Chinh believes that by the end of 2025, the International Financial Center in Vietnam will be operational and by 2035 it will be among the 75 financial centers in the world.
The Prime Minister affirmed that the International Financial Center in Vietnam will not only be a place for pure financial transactions, but also a place where capital, people, technology, culture, laws and progressive, creative and innovative ideas converge; a place that operates on market principles and international competition, but at the same time ensures the requirements of national governance and financial and monetary sovereignty; opening up many new opportunities to promote the development and prosperity of Vietnam, as well as its partners, businesses and investors.
The day after the conference, Prime Minister Pham Minh Chinh visited the construction site of the Vietnam International Financial Center in Ho Chi Minh City.
The Vietnam International Financial Center in Ho Chi Minh City has a total area of about 729 hectares, located in the wards of Saigon, Ben Thanh and Thu Thiem. It is expected that key projects will be built here such as the Urban Administrative Agency, Exhibition Conference Center, Planning Information Center, Observation Tower Complex, Museum, Symphony Theater, Hotel Complex, Multi-purpose Gymnasium, Children's Palace, International Hospital, Marina Complex, Water Park.
According to VNA
Source: https://baothanhhoa.vn/thu-tuong-xay-dung-trung-tam-tai-chinh-quoc-te-tai-viet-nam-da-lam-phai-thanh-cong-256786.htm
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