New impetus from international financial center

Affirming Vietnam's position on the financial map

Minister of Planning and Investment Nguyen Chi Dung said that Ho Chi Minh City and Da Nang have many fundamental factors to develop regional and international financial centers, which are considered to be one of the emerging financial centers with strong growth momentum. The successful construction of a financial center will help the country connect with the global financial market, attract foreign financial institutions, provide high-quality financial services, help the financial market become healthy and effective, and catch up with international standards...

In the action plan, the Government assigned 49 groups of specific tasks and solutions to 12 ministries, branches and localities. The Government also established an inter-sectoral steering committee on regional and international financial information, headed by Prime Minister Pham Minh Chinh and 6 deputy heads.

The international financial center also affirms Vietnam's position on the financial map.

Mr. Nguyen Van Nen, Politburo member, Secretary of the Ho Chi Minh City Party Committee, assessed that the establishment of the International Financial Center in Ho Chi Minh City is a clear demonstration of the strategic vision of the Central Committee, a strong commitment to building a transparent, effective and sustainable financial ecosystem. "The International Financial Center is not only an economic development project but also an affirmation of Vietnam's position on the financial map," Mr. Nen commented.

Mr. Nen said that Ho Chi Minh City will study the expansion of the planning associated with the new urban area of ​​Thu Thiem, prioritize the development of synchronous infrastructure, prepare human resources for operation, train human resources, attract talents, promote innovation, research, and application of science and technology, especially in the fields of finance and technology. At the same time, the locality will also study and propose specific mechanisms and policies to encourage, attract and protect the legitimate rights and interests of investors, financial institutions, banks, investment funds, large financial institutions, etc. to develop a safe, healthy and sustainable financial market.

Important capital mobilization channel

Speaking at the conference, Prime Minister Pham Minh Chinh emphasized that in order to achieve the economic growth target, it is necessary to renew traditional growth drivers, while promoting new growth drivers, including the formation of international financial markets. A country that wants to make a breakthrough needs a huge amount of human resources, capital and financial markets, and financial markets are important capital mobilization channels. The Prime Minister analyzed that if it wants to grow by 8% or more, or even double-digit growth, total investment must account for 45-50% of GDP. Every year, the country needs a large amount of capital for strategic infrastructure development such as completing 3,000 km of highways, 1,000 km of coastal roads, high-speed railway projects, airports, and ports, estimated at 4-5 million billion VND.

Affirming that Vietnam has sufficient conditions to establish an international financial center, the Prime Minister emphasized that the establishment of financial centers in Ho Chi Minh City and Da Nang City is an inevitable task, an objective requirement in the era of national development. Regarding the upcoming key tasks, the Prime Minister said that the Government will focus on perfecting mechanisms and policies to submit to the National Assembly at the May 2025 session. The Prime Minister assessed that this is a difficult, new, and very complicated task, but it cannot be avoided.

The Prime Minister noted the need to "Vietnamize" the world's best practices in the field of IT, learn from international models to implement them in accordance with the country's conditions. At the same time, the Prime Minister also noted the preparation of human resources, infrastructure, work management, and the unity of the political system, people, and businesses. For Ho Chi Minh City and Da Nang, the Prime Minister suggested that the two localities quickly develop specific mechanisms and policies, focusing on methods of resource mobilization, human resource training, technology transfer, and smart governance.

In addition, ministries and sectors need to continue to agree and support the two cities in drafting documents and regulations, creating a legal corridor. The Prime Minister also hopes that international partners will continue to accompany, exchange experiences, propose policies, support the search for financial and human resources, contributing to accelerating the formation of the TTTC.

Thanhnien.vn

Source: https://thanhnien.vn/dong-luc-moi-tu-trung-tam-tai-chinh-quoc-te-185250105011121287.htm