Building a financial center brings many opportunities for the economy. Illustration: Nguyen Trinh
On February 23, information from the Ministry of Justice said that relevant ministries and branches have just commented on the proposal to draft a National Assembly Resolution on the establishment and operation of a financial center in Vietnam.
According to the representative of the Ministry of Planning and Investment, the development of a National Assembly Resolution on the establishment and operation of a Financial Center in Vietnam is extremely necessary to successfully form a regional and international Financial Center; help Vietnam connect to the global financial market; attract foreign financial institutions, create new investment resources, promote existing investment resources; and take advantage of opportunities to shift international investment capital flows.
The Ministry of Planning and Investment proposed to develop a draft Resolution of the National Assembly on the establishment and operation of the Financial Center in Vietnam according to 3 policy groups including: establishment of the Financial Center and agencies under the Financial Center (including: Executive Management Committee, Financial Supervision Committee; International Arbitration Center); policies applicable to the Financial Center; State management policies for the Financial Center.
Regarding the policy on crypto assets, according to the representative of the State Bank, although the draft Resolution has provisions that are superior to current regulations, the concepts used in the draft must be consistent with the legal system.
Therefore, it is recommended that the drafting agency review the concepts of crypto assets in the draft Resolution with the provisions in relevant legal documents such as the Law on Digital Technology Industry.
Regarding the foreign ownership ratio and foreign investment conditions for providing services in the Financial Center, the State Bank said that these regulations are directly related to Vietnam's trade and investment commitments. Therefore, the draft Resolution stipulating that no restrictions on foreign ownership ratio and foreign investment conditions in the Financial Center need to be further reviewed to limit the risk of violating obligations in Vietnam's trade agreements and investment protection agreements.
Regarding the timing of establishing a specialized trading floor, trading in crypto assets, crypto currencies in the Financial Center, etc., the representative of the Ministry of Finance requested the drafting agency to further assess the practice and the ability to complete related legal documents to build a suitable implementation roadmap.
In addition, he agreed that there must be a mechanism for preferential treatment of taxes and fees for the Financial Center. However, the drafting agency needs to continue to coordinate with the Ministry of Finance to determine the level of incentives in accordance with the Party and State's orientation and in accordance with regulations on personal income tax and corporate income tax.
Discussing this issue, Deputy Minister of Justice Nguyen Thanh Tinh agreed that it is necessary to develop a National Assembly Resolution on the establishment and operation of a financial center in Vietnam. At the same time, he emphasized that this draft Resolution must develop outstanding mechanisms and policies to enhance competitiveness, but must also be closely controlled and monitored.
Laodong.vn
Source: https://laodong.vn/kinh-doanh/chinh-sach-vuot-troi-cho-trung-tam-tai-chinh-tai-viet-nam-1467437.ldo
Comment (0)