Create an open mechanism to build an international financial center

On the afternoon of January 16, in Da Nang City, the International Financial Center Development Conference in Vietnam took place.

The workshop was chaired by Deputy Prime Minister Nguyen Hoa Binh. More than 450 delegates, including domestic and foreign financial experts, attended the workshop.

Deputy Minister of Planning and Investment Do Thanh Trung assessed that Da Nang has all the advantages, potentials, development requirements and political determination to build a regional financial center.

"Building Da Nang into a regional financial center is necessary to develop international financial services and ancillary services with potential and advantages; mobilizing international financial resources for the breakthrough development of Da Nang and the Central Highlands - Central region in particular, and the country in general" - Mr. Trung emphasized.

Speaking at the workshop, Deputy Prime Minister Nguyen Hoa Binh especially noted five things that need to be done in the near future to soon make the two international financial centers of Ho Chi Minh City and Da Nang a reality. Firstly, it is necessary to build a transparent, open, trustworthy legal infrastructure, preferential policy mechanisms, and legal infrastructure. Secondly, Ho Chi Minh City and Da Nang need to prepare a team of experts to operate, manage, handle risks, and resolve disputes related to the financial centers.

Third, it is necessary to prepare infrastructure, including information technology infrastructure, living environment, working environment and economic ecosystem supporting these centers. "The operating personnel must be talented. Talents only live in places worth living. Therefore, the living environment must be excellent to attract them" - the Deputy Prime Minister emphasized.

Fourth, the two localities need to build a financial market with unique, distinctive and attractive features of Vietnam such as: green economy, blockchain, Fintech, intellectual property... as suggested by experts. Finally, it is necessary to connect, attract media, and spread information about Vietnam's financial market to other financial markets around the world.

"In the near future, we will have attractive and trustworthy laws; high-class infrastructure, an attractive living environment, and open policies so that the two financial centers can quickly become a reality," Mr. Nguyen Hoa Binh affirmed.

Source: https://nld.com.vn/tao-co-che-thong-thoang-de-xay-dung-trung-tam-tai-chinh-quoc-te-196250116205928378.htm