Prime Minister meets to discuss building international financial centers in Ho Chi Minh City and Da Nang

Prime Minister Pham Minh Chinh - Photo: VGP

At the meeting, delegates heard a report on the construction of a project for a regional and international financial center in Vietnam.

Discussions on the international and domestic context, along with the needs, potentials, requirements and tasks of building an international financial center in Vietnam.

Financial centers need to promote their unique potential and outstanding opportunities.

In conclusion, Prime Minister Pham Minh Chinh emphasized that the development of the project of the International and Regional Financial Center is a new, difficult and unprecedented issue. Therefore, it is necessary to discuss thoroughly to choose the best option. The goal is to institutionalize, concretize and implement the Party's policies and guidelines, including the Resolution of the 13th National Party Congress.

Regarding the approach, the Prime Minister emphasized the need to develop with endogenous capacity. Promote the unique potential, outstanding opportunities, and competitive advantages of Vietnam in general, Ho Chi Minh City and Da Nang in particular. Have determination, mechanisms, policies, and appropriate steps. Do things with certainty, learn from experience as you go, expand gradually, not be perfectionist, not hasty.

The Prime Minister pointed out that the goal of building a financial center is to form a financial market. Develop financial services and related services to mobilize financial resources for the development of the two cities and the country in general.

Regarding scope, the Prime Minister noted that it is necessary to study and limit it to a certain scope. Identify Vietnam's strengths to propose mechanisms and policies. Have modern management methods, close leadership and direction.

Regarding subjects, it is necessary to focus on subjects related to finance, banking and related services, and capital markets.

The Prime Minister said that it is necessary to study and refer to financial center models around the world, absorb the quintessence factors suitable to Vietnam's current and future conditions and circumstances to propose, build and develop Vietnam's own model.

Building unique, innovative policies

The Prime Minister also requested that the project clearly define conditions on infrastructure, human resources, finance, and ecosystem; propose the structure, organizational model, functions, tasks, powers, and operating mechanism of the regional and international financial center.

At the same time, propose a legal framework, specific and breakthrough policy mechanisms, including visa policies, labor, taxes, high-quality human resources, etc.

At the same time, attract all financial resources, especially finance for emerging industries, including green economy, digital economy, circular economy, sharing economy, climate change response... Forming a financial market that operates healthily, safely, integratedly and sustainably.

Prime Minister Pham Minh Chinh requested the Steering Committee, relevant ministries, agencies, Ho Chi Minh City and Da Nang to absorb the opinions of the delegates and uphold their sense of responsibility. Urgently complete the project to build a financial center to ensure feasibility, efficiency, and suitability to the practical situation to submit to competent authorities for consideration.

Source: https://tuoitre.vn/thu-tuong-hop-ban-ve-xay-dung-trung-tam-tai-chinh-quoc-te-tai-tp-hcm-va-da-nang-20240930213333064.htm