Focus on 5 tasks and solutions to build a Financial Center

DNO - This is the request of Politburo member, Permanent Deputy Prime Minister Nguyen Hoa Binh at the workshop "Developing an international financial center in Vietnam" organized by the City People's Committee in coordination with the Ministry of Planning and Investment on the afternoon of January 16.

Permanent Deputy Prime Minister Nguyen Hoa Binh gave a speech at the workshop. Photo: M.QUE

Speaking at the workshop, Politburo member and Permanent Deputy Prime Minister Nguyen Hoa Binh assessed that this was a quality workshop, attracting many domestic and foreign investors and scientists.

Financial center is a new issue, playing an important role as an "economic boost", promoting Vietnam to take off.

Experts and financial institutions all assess that Da Nang and Ho Chi Minh City are two locations that have sufficient current and future potential factors to develop financial centers.

The speakers all had accurate comments on the expected orientations and policies and had many suggestions for the Vietnamese Government, as well as expectations that Vietnam and these two financial centers will become an increasingly important part of the world economy.

If the country wants to develop sustainably, a financial center is a strategic decision. Therefore, leaders of ministries, departments, branches and localities need to carefully study the opinions at the workshop; at the same time, hope that the speakers will continue to accompany Vietnam to develop a financial center.

The Deputy Prime Minister noted that the two cities and ministries and sectors should closely follow the issues pointed out by the Government and experts. In particular, they should focus on learning from the experiences of financial centers that have been built and developed sustainably at present.

The strengths of the two cities, in addition to infrastructure, are increasingly high-quality human resources, especially the determination of the entire local political system.

In addition, the two cities focus on five tasks and solutions. The first is good legal infrastructure and attractive incentive policies.

Accordingly, the Government is researching and learning more about policy mechanisms in financial centers around the world to continue building appropriate, open, and trustworthy policies, and Vietnam hopes that international partners will support Vietnam in doing this.

Second, cities need to focus on training human resources, contact financial centers to learn from experience, and prepare suitable human resources.

Third, prepare infrastructure, specifically information technology infrastructure, living environment infrastructure, working environment and ecosystem surrounding financial centers such as Free Trade Zones, ports, wharves, etc. The two cities must build attractive living environments to attract talent.

Fourth is to choose the direction of building a financial center that is suitable and specific to Vietnam's conditions. Finally, to connect with appropriate organizations and partners for dissemination.

Member of the Party Central Committee, Secretary of the City Party Committee, Head of the City's National Assembly Delegation Nguyen Van Quang delivered the closing speech at the workshop.

In his closing speech at the workshop, Party Central Committee member, City Party Secretary, Head of the City National Assembly Delegation Nguyen Van Quang said that Da Nang City will continue to study opinions and proposals before, during and after the workshop.

The city hopes to continue to receive close attention and direction from Government leaders so that Da Nang and Ho Chi Minh City can successfully build financial centers, in addition to receiving support from partners to develop two independent but mutually supportive financial centers.

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 of the Vietnamese people.

Central and local leaders and delegates congratulated the workshop on its success. Photo: M.QUE

On this occasion, representatives of Da Nang city and international partners presented memorandums of understanding on cooperation. Specifically, the city People's Committee and partners: Makara Capital Investment Fund (Singapore); Terne Holdings Group (Singapore); the city People's Committee and the Vietnam Blockchain Association.

University of Economics, University of Danang and partners: TMC Academy (Singapore), Yuan Ze University (Taiwan, China), Institute of Chartered Accountants in England and Wales (ICAEW).

Chairman of the City People's Committee Le Trung Chinh (right) and representative of Makara Capital Investment Fund (Singapore) presented the memorandum of understanding. Photo: M.QUE

Chairman of the City People's Committee Le Trung Chinh (right) and representative of Terne Holdings Group (Singapore) exchanged the memorandum of understanding. Photo: M.QUE

Chairman of the City People's Committee Le Trung Chinh (right) and representatives of the Vietnam Blockchain Association presented the memorandum of understanding. Photo: M.QUE -

Chairman of the City People's Committee Le Trung Chinh (right) and representatives of the Vietnam Blockchain Association presented a memorandum of understanding. Photo: M.QUE