What do leaders of the Ministry of Finance and the Ho Chi Minh City People's Committee say about building a financial center in Ho Chi Minh City?

"Building a financial center is a new, difficult and unprecedented issue for Vietnam. However, with the strong direction of the Party and Government, the joint efforts of ministries, departments, branches and localities, and the cooperation of the international community and the private sector, Vietnam can completely successfully build a modern, world-class financial center."

Mr. Nguyen Van Thang, Minister of Finance, made this statement at the Conference on building a financial center in Vietnam, organized by the Ministry of Finance and the Ho Chi Minh City People's Committee on the afternoon of March 28 in Ho Chi Minh City.

The conference attracted about 400 guests, including many financial experts, investment funds, banks, businesses...

Mr. Nguyen Van Thang, Minister of Finance, delivered a speech at the conference.

According to Mr. Thang, Vietnam hopes to successfully build a modern, world-class financial center, which is not only a symbol of prosperity, but also a place to initiate breakthroughs in green finance and digital finance, contributing to the stable and sustainable development of the region and the world.

In the context of the world experiencing many major changes leading to rapid shifts in the global financial order, Mr. Thang believes that Vietnam, with its important geopolitical position, stable macro-economy and continuously improving investment environment, is facing a golden opportunity to participate and position itself in the global financial center chain.

Many international guests attended the conference

The Minister of Finance informed that the Government is drafting a resolution of the National Assembly on the Financial Center in Vietnam to establish an open and transparent legal framework with outstanding preferential policies, in line with international practices.

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Mr. Nguyen Van Duoc, Chairman of Ho Chi Minh City People's Committee, stated 4 major advantages of Ho Chi Minh City to become an international financial center.

Firstly, Ho Chi Minh City has a dynamic economy, deeply integrated into the international community, contributing about 15.5% of the country's GDP, accounting for more than 25.3% of the total national budget revenue and nearly 11.3% of the country's import-export turnover.

Second, Ho Chi Minh City is the largest commercial and financial services center in Vietnam, possessing modern financial infrastructure; it has basic designs for modern financial markets such as stock markets, capital markets, digital infrastructure payment centers and financial technology applications.

Chairman of Ho Chi Minh City People's Committee Nguyen Van Duoc speaks at the conference

Third, Ho Chi Minh City has an important geostrategic position, connecting with major financial centers in the region such as Singapore, Shanghai, and Tokyo.

Fourth, Ho Chi Minh City has clear political determination and strategic direction from the central to local levels.

Mr. Nguyen Van Duoc believes that the construction of an international financial center will bring many practical socio-economic benefits to Ho Chi Minh City and the whole country, creating a spillover effect to neighboring cities and the region, improving urban management capacity, sustainable development and expanding comprehensive cooperation with global partners.

Source: https://nld.com.vn/lanh-dao-bo-tai-chinh-va-ubnd-tp-hcm-noi-gi-ve-xay-dung-trung-tam-tai-chinh-196250328151219755.htm