International financial centers in Ho Chi Minh City and Da Nang will operate in November.

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

According to the report of the Ministry of Finance , the international financial center in Vietnam with the model of "one center, two destinations" is located in Ho Chi Minh City and Da Nang.

In particular, Ho Chi Minh City will be a large-scale financial hub, strongly developing the stock market, bonds, banking, fund management, and listing services. Da Nang will focus on developing financial services related to logistics, maritime, free trade, and industrial and agricultural supply chains. It is expected that the central area in Ho Chi Minh City will have an area of ​​about 899 hectares; the area in Da Nang will have an area of ​​about 300 hectares.

Concluding the conference, Prime Minister Pham Minh Chinh said that Vietnam will choose the best option to build and perfect the legal corridor for establishing and developing an international financial center in Vietnam. Regarding the agencies in the center, the Prime Minister said that the orientation is to establish two executive agencies under two localities, but one general supervisory agency, and one court to resolve disputes.

Prime Minister Pham Minh Chinh requested that the international financial center in Vietnam will be operational in November. PHOTO: NHAT BAC

The center operates on the basis of digitalization, artificial intelligence (AI), is highly competitive and attracts development resources. People must be professional, including domestic and foreign experts to absorb international quintessence and wisdom.

The Prime Minister also stated that to attract experts, it is necessary to have the most favorable and competitive mechanisms and policies, creating a harmonious ecosystem between people, society and nature; Da Nang and Ho Chi Minh City need to maximize and create favorable living conditions in terms of transportation, living, education, health, culture, sports, etc. The international financial center will not create barriers to other centers, nor create barriers from members in the center to the outside.

Regarding administrative procedures, the Prime Minister clearly stated the spirit of one door, one stamp, one person, removing unnecessary barriers and administrative procedures.

The Prime Minister also requested that Ho Chi Minh City and Da Nang prepare necessary conditions, issue and publicly announce specific policies and regulations within their authority; must be urgent, public and transparent to create momentum, force and spirit; promote the strength of the two cities in combination with the strength of the whole country.

The agencies assigned to draft continue to update and soon complete the draft decree on the international financial center in Vietnam, submit it to the Government; make efforts to put the center into operation this November.

On the same afternoon, the Prime Minister chaired a working session with the Ministry of Public Security and relevant ministries and branches on building a legal, policy and institutional corridor to promote the formation and development of a Vietnamese data platform.

A report at the meeting said that Vietnam's digital economy is expected to reach about 45 billion USD by 2025 and could reach between 90 and 200 billion USD by 2030.

The Prime Minister assigned the Ministry of Public Security to preside over and coordinate with relevant ministries and branches to focus on research and implementation of trial operations, trying to conduct trial operations within November. The Ministry of Public Security was also assigned the task of conducting appraisal and licensing operations. At the same time, review, supplement, and perfect institutions, and propose breakthrough mechanisms for exploiting data from the national data center.

Regarding infrastructure, the Prime Minister assigned the Ministry of Science and Technology to develop a mechanism for ordering and assigning science and technology and innovation tasks to public service units, organizations and domestic enterprises, and support the formation of large-scale strategic technology enterprises, to be completed in the second quarter of 2026...

Also on the afternoon of November 1, Prime Minister Pham Minh Chinh, Head of the National Steering Committee for the implementation of Resolution No. 68-NQ/TW on private economic development, chaired the second meeting of the Steering Committee.

Source: https://ttbc-hcm.gov.vn/trung-tam-tai-chinh-quoc-te-tai-tp-hcm-da-nang-se-hoat-dong-trong-thang-11-1019892.html