On the morning of January 4 in Ho Chi Minh City, Politburo member and Prime Minister Pham Minh Chinh chaired a conference to announce the Government’s Resolution on the action plan to implement the Politburo’s Conclusion regarding the development of a regional and international financial center in Vietnam.

Attending the conference were: Politburo member, Standing Deputy Prime Minister Nguyen Hoa Binh; Politburo member, Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen; Politburo member, Minister of National Defense, General Phan Van Giang; Politburo member, Minister of Public Security, General Luong Tam Quang; and Party Central Committee Secretary, Chief Justice of the Supreme People’s Court Le Minh Tri.

On November 15, 2024, the Politburo issued Announcement No. 47-TB/TW “on the establishment of a regional and international financial center in Vietnam,” in which the Politburo agreed to establish a comprehensive International Financial Center in Ho Chi Minh City and a Regional Financial Center in Da Nang.

Government Resolution No. 259/NQ-CP assigned 49 groups of tasks and solutions to 12 ministries, sectors, and localities for implementation, focusing on five key priorities: developing modern financial infrastructure; attracting international talent; promoting financial innovation; expanding international integration; and ensuring financial security.

Speaking at the conference, Prime Minister Pham Minh Chinh expressed his pleasure at the strong involvement of ministries, sectors, and localities, as well as the support and sharing of international partners, reinforcing confidence in the effective development of an international financial center in Vietnam. He affirmed that Vietnam meets five conditions to establish such a center; the establishment of International Financial Centers will help Vietnam connect with global financial markets, attract foreign financial institutions, create new resources while leveraging existing ones, seize opportunities from shifting international investment flows to foster socio-economic development, promote the effective development of Vietnam’s financial market in line with international standards, and generate new momentum for breakthrough development.

The Prime Minister requested that ministries, sectors, and localities work with the Government to develop and submit to the National Assembly mechanisms and policies for the International Financial Center; localize and apply global best practices in this field; focus on training and attracting human resources; ensure the development of modern, high-quality infrastructure; apply advanced science and technology in management; and build consensus across the entire political system, the people, and businesses in the construction and development of International Financial Centers in Vietnam.

Emphasizing the principle that “The Party has directed, the Government has agreed, the National Assembly concurs, the people support, and the Fatherland expects—then we only move forward, not backward” and the spirit of “no saying no, no saying difficult, no saying yes without action,” the Prime Minister affirmed that establishing regional and international financial centers in Vietnam is an urgent requirement, receiving great attention from the Party, State, and Government leadership; it is the task of the entire Party, the whole political system, the people, and the business community, with the cooperation and support of international friends.

With the motto “listening and understanding together; sharing vision and action together; working together, enjoying together, winning together, and developing together,” the Prime Minister expressed confidence that Vietnam will achieve success in building and developing regional and international financial centers, thereby contributing to the shared development and prosperity of the region and the world.

Phan Thao

Source excerpt: https://baomoi.com/dong-luc-moi-dot-pha-cho-phat-trien