DNO - On the afternoon of January 16, the City People's Committee and the Ministry of Planning and Investment held a workshop on Developing an international financial center in Vietnam. Politburo member, Permanent Deputy Prime Minister Nguyen Hoa Binh; Party Central Committee member, City Party Secretary, Head of the City National Assembly Delegation Nguyen Van Quang; Party Central Committee member, Chairman of the Ho Chi Minh City People's Committee Phan Van Mai; Deputy Minister of Planning and Investment Do Thanh Trung; Chairman of the Da Nang City People's Committee Le Trung Chinh co-chaired the workshop.
The event was attended by 350 delegates, including leaders of the Government, localities, representatives of ministries, departments, branches, foreign diplomatic missions in Vietnam, international organizations, strategic investors, financial institutions, investment funds, experts, major international news agencies and domestic media agencies.
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| Member of the Politburo, Permanent Deputy Prime Minister Nguyen Hoa Binh (middle) ; Member of the Party Central Committee, Secretary of the City Party Committee, Head of the City's National Assembly Delegation Nguyen Van Quang (second from right) ; Member of the Party Central Committee, Chairman of the Ho Chi Minh City People's Committee Phan Van Mai (second from left) ; Deputy Minister of Planning and Investment Do Thanh Trung (first from right); Chairman of the Da Nang City People's Committee Le Trung Chinh co-chaired the workshop. Photo: M.QUE |
In his opening speech, Chairman of the People's Committee of Da Nang City Le Trung Chinh said that the workshop on Developing International Financial Centers in Vietnam was held to introduce the policy and orientation for developing International Financial Centers in Vietnam, including the Da Nang City Financial Center.
The city wishes to listen to the opinions of state management agencies, strategic investors, organizations, financial institutions, investment funds; consulting companies, training institutions, experts and scientists at home and abroad on specific policy mechanisms so that the International Financial Center in Vietnam can soon be formed and developed.
On November 15, 2024, the Politburo issued Conclusion No. 47-TB/TW on building a regional and international financial center in Vietnam. This is a big challenge, a new field, but a breakthrough strategy in economic and financial development, contributing to enhancing the role, position, prestige and influence of Vietnam in the international arena, preparing for a new era, an era of rising up of the Vietnamese people.
In order to thoroughly grasp and ensure the drastic, effective and synchronous implementation of the Politburo's guiding viewpoints and policies in Conclusion No. 47-TB/TW, in a short time, the Government and the Prime Minister issued Resolution No. 259/NQ-CP dated December 31, 2024 on the Action Plan to implement Conclusion No. 47-TB/TW and Decision No. 1718/QD-TTg dated December 31, 2024 on the establishment of the Steering Committee on the construction of a regional and international financial center in Vietnam.
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| Chairman of the City People's Committee Le Trung Chinh delivered the opening speech. Photo: M.QUE |
On the local side, the Da Nang City Party Committee issued Decision No. 13111-QD/TU dated January 3, 2024 on the establishment of the Steering Committee for the construction and development of the Da Nang City Financial Center, with the Secretary of the City Party Committee as Head of the Steering Committee, developing a work program and assigning specific tasks to each member, issuing an implementation plan to ensure unity and achieve high results in the process of implementing the conclusions of the Politburo.
The workshop will clarify the potentials and favorable conditions for the formation and development of an international financial center in Vietnam, including the Da Nang City Financial Center, and ideas and recommendations for the early formation and development of an international financial center in Vietnam. Therefore, this is an important workshop that contributes to raising awareness, creating a foundation and motivation for the city's breakthrough and long-term development in the coming time.
Chairman of the City People's Committee Le Trung Chinh requested departments, branches, sectors, and relevant agencies of Da Nang City to uphold their sense of responsibility, concentrate highly on studying and fully absorbing the opinions and directions given at the workshop, in order to reach a high level of consensus on awareness and action, promptly study and develop draft mechanisms and policies to report to the Ministry of Planning and Investment for consideration and synthesis into the draft resolution of the National Assembly.
To concretize, lead, and closely direct the effective implementation of the goals and tasks set forth in Resolution No. 259/NQ-CP of the Government and the Plan of the Standing Committee of the City Party Committee on the implementation of Notice No. 47-TB/TW.
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| Chairman of Ho Chi Minh City People's Committee Phan Van Mai speaks at the workshop. Photo: M.QUE |
Chairman of Ho Chi Minh City People's Committee Phan Van Mai said that the goal of developing a regional and international financial center in Ho Chi Minh City and Da Nang is based on the common foundation conditions of the whole country with a stable political situation, a large scale of the country's economy with a high growth rate, great openness and integration with the world economy...
Especially the strategic location with a different time zone from 21 of the world's largest financial centers, as well as an important geopolitical position in the world's leading dynamic and creative development region. From the advantages of the country as a foundation, Ho Chi Minh City and Da Nang will continue to promote the strengths of each locality to cooperate and support each other, aiming to build and develop a financial center.
Ho Chi Minh City was ranked in the list of Financial Centers in the Global Financial Centers Index (GFCI) for the first time in 2022. In the latest GFCI report (September 2024), Ho Chi Minh City Financial Center was assessed as one of the financial centers with outstanding improvements in rankings in the Asia-Pacific region.
Ho Chi Minh City is also the digital financial services center of Vietnam, the leading market in the rate of applying financial technologies with a financial ecosystem that concentrates more than 50% of financial technology startups (Fintech), along with a workforce of highly qualified and skilled programmers with very competitive costs compared to other countries in the region, which can create advantages and form specific products for the Vietnam International Financial Center in Ho Chi Minh City.
Ho Chi Minh City will focus resources on investment in developing infrastructure for the financial center, develop a plan to mobilize resources, including resources from the State budget and private resources to develop infrastructure to serve the financial center; develop and implement an investment plan to develop human resources for the financial center.
Coordinate with the Inter-sectoral Steering Committee on Regional and International Financial Centers, the National Assembly's Resolution Drafting Committee on the construction of Regional and International Financial Centers in Vietnam, the Working Group on the construction of the financial center's management and operation apparatus, and relevant ministries and branches in the work of drafting legal documents and establishing the financial center's management and operation apparatus.
Building, consolidating and promoting competitive advantages for the Financial Center in Vietnam to catch up with international standards and practices, realizing the goal of promoting the effective development of the Vietnamese financial market, contributing to supporting the economic development of the country.
In the future, Vietnam's financial centers will play an important role as financial centers in Southeast Asia, with enough capacity to take advantage of opportunities to shift international investment flows, connect financial markets and become a comprehensive financial center recognized internationally.
CINNAMON
Source: http://baodanang.vn/kinhte/202501/dinh-huong-phat-trien-trung-tam-tai-chinh-quoc-te-tai-viet-nam-3999335/
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