Prepare resources for financial center

On April 22, the Ho Chi Minh City People's Committee held a scientific workshop on building an international financial center (TTTC) of Vietnam in Ho Chi Minh City with the theme "Space for human resource development and training".

Vice Chairman of the Ho Chi Minh City People's Committee Nguyen Van Dung said that the city is continuing to implement a number of tasks in the process of building an international financial center. The latest development is that the Government will report to the Politburo at the meeting at the end of April 2025 about establishing only one international financial center in Vietnam, located in two places, Ho Chi Minh City and Da Nang City, instead of establishing two independent centers in the two cities.

Vice Chairman of Ho Chi Minh City People's Committee Nguyen Van Dung speaks at the workshop. Photo: LAM GIANG

"Relevant policies are being discussed by the two localities and ministries and branches. This is a new and difficult task, but there are still opportunities," said Mr. Nguyen Van Dung.

At the workshop, one of the topics discussed by experts was the need to prepare high-quality human resources for the international financial market. Because, with a roadmap of about 10 years to build an international financial market, it requires a huge human resource.

Dr. Truong Minh Huy Vu, Director of the Ho Chi Minh City Institute for Development Studies (HIDS), suggested that the city research and develop policies to attract, train, develop and retain high-quality human resources in the financial sector. Because the international financial market requires a professional, highly qualified workforce in key areas such as finance, banking, blockchain, artificial intelligence (AI) and risk management.

According to Dr. Truong Minh Huy Vu, Ho Chi Minh City will focus on specific solutions to improve the quality of human resources for the international financial market, such as improving the skills of the existing workforce through practical training and updating university programs. In addition, it will establish specialized training courses to address the shortage of skills in the fields of finance and technology; encourage cooperation with international training organizations to improve the professional capacity of financial human resources...

Many experts and businesses also exchanged views on the plan to determine the location, administrative boundaries, and area of ​​the international financial center. Mr. Dinh Khac Huy, Deputy Director of the Ho Chi Minh City Department of Finance, said that he had proposed two plans to determine the administrative boundaries of the international financial center, from which to develop a plan to auction land lots to attract investment; request a mechanism to select strategic investors; policies to attract domestic and international investors...

Both options determine that the international financial center will be located in part of the core area of ​​the financial center in Thu Thiem, Thu Duc City and part of the core area of ​​the commercial and financial center in District 1 with a total area of ​​687 hectares. "The special functional area with 11 plots of land in functional area No. 1 in the new urban area of ​​Thu Thiem with an area of ​​9.2 hectares, including 478,060 m2 of commercial and service construction floor space, is identified as the core area to attract strategic investors to participate in the construction and development of the international financial center in the first phase," Mr. Dinh Khac Huy emphasized.

Some experts and businesses believe that it is not advisable to define specific geographical boundaries because it will be very difficult, but rather choose a "soft" and flexible boundary option. According to a representative of Son Kim Land Real Estate JSC, it is advisable to define a "soft" boundary for the international financial center, following the transport infrastructure system to create momentum and development force, in line with both the population dispersion goal and the overall planning.

Proposing a sandbox for education

Associate Professor, Dr. Hoang Cong Gia Khanh, Rector of the University of Economics and Law, expressed the view that it is necessary to orient the development of international financial centers into centers of data, technology and high-quality human resources.

"Human resources must be deep enough with a team of experts; broad enough - multidisciplinary instead of purely technology and finance; fast enough to meet current technological developments and open enough - create open regulations to attract international human resources. In particular, there needs to be a controlled testing legal framework (sandbox) for education, similar to the sandbox for technology and finance" - Associate Professor Khanh proposed.

Source: https://nld.com.vn/chuan-bi-nguon-luc-cho-trung-tam-tai-chinh-196250422202535708.htm