Addressing the event, the Prime Minister emphasised that the establishment of the IFC is a practical imperative and an objective necessity, as well as a strategic choice and an effective solution. He said the initiative represents the convergence between the restructuring of global investment flows and Vietnam’s determination to rise in what he called a new era of national advancement.

According to the Prime Minister, bringing the International Financial Centre into operation marks the beginning of a comprehensive transformation of the country’s financial market in terms of scale, quality and efficiency, with far-reaching spillover effects across all sectors of the economy.

In his view, the IFC will help elevate Vietnam’s national standing, positioning the country not merely as a global manufacturing base but as a key node in the global financial security network. It will create a breakthrough in resource mobilisation, forming a large-scale, low-cost capital channel to finance strategic infrastructure projects without increasing public debt.

In addition, he said, the IFC represents a “breakthrough of breakthroughs” in institutional reform, with its greatest value lying not only in financial gains but in transforming governance mindsets through modern management, digitalization and international competition.

To ensure the IFC operates effectively and substantively, Prime Minister Chinh called on ministries, agencies and localities to shift from an administrative mindset to a facilitative and service-oriented approach. He stressed that investor concerns must be addressed through special one-stop mechanisms, with issues escalated directly to the Prime Minister if they exceed local authority. He also urged faster progress in transport and logistics infrastructure connecting airports, seaports, urban railways and free trade zones, while underscoring the importance of transparent, independent supervision in line with international anti-money laundering commitments.

The Prime Minister encouraged Vietnamese enterprises to strengthen confidence, resilience and cooperation, urging them not to underestimate themselves in global competition. He described the International Financial Centre as a launchpad for domestic businesses to scale up and expand regionally and globally.

At the same time, he called on international investors to place long-term trust in Vietnam, bring capital, technology, management expertise and talent, and share both successes and lessons learned. He reaffirmed the Government’s commitment to protecting legitimate investor interests under the principle of harmonised benefits and shared risks.

Prime Minister Pham Minh Chinh expressed confidence that Vietnam would successfully develop an International Financial Centre that is open, digital, green, secure, transparent, competitive, efficient and sustainable, helping the country move steadily toward a prosperous, modern and resilient future.

At the conference, Finance Minister Nguyen Van Thang announced the decision to establish the Governing Council of the International Financial Centre, chaired by Permanent Deputy Prime Minister Nguyen Hoa Binh, with vice chairpersons including the chairpersons of the People’s Committees of Ho Chi Minh City and Da Nang.

The council is responsible for formulating development strategies, roadmaps and plans for the IFC, based on the specific conditions and potential of the two host cities, and for issuing operational regulations proposed by the IFC executive bodies in both locations.

Following the announcement of appointments to the executive leadership in Ho Chi Minh City and Da Nang, the Governing Council of the International Financial Centre officially made its debut.

Speaking on behalf of the council, Permanent Deputy Prime Minister Nguyen Hoa Binh described the establishment of the IFC as a critical preparatory step for Vietnam’s accelerated development phase and a new engine for economic growth. Acknowledging that the initiative is unprecedented and challenging, he pledged close coordination with ministries, localities and stakeholders to turn the IFC into a breakthrough channel for mobilising capital and supporting national development.

He also noted that the Government has issued eight decrees and decisions governing the IFC, covering its establishment, financial policies, labour and social security, land and environmental regulations, immigration policies for foreign nationals, the establishment of an international arbitration centre, the creation and operation of a commodity exchange, and the formation of the Governing Council. These regulations, developed with reference to international practices, will continue to be refined to strengthen the IFC’s legal framework.

Leaders of Ho Chi Minh City and Da Nang emphasised the importance of leveraging each city’s comparative advantages. Ho Chi Minh City Chairman Nguyen Van Duoc highlighted the city’s expanding cooperation with major global financial centres such as New York, Frankfurt, Singapore, Dubai and Astana, stating that the IFC would serve not only as a financial hub but also as a symbol of Vietnam’s new development mindset centered on innovation and bold reform.

Da Nang Chairman Pham Duc An underlined the city’s focus on controlled pilot models in areas such as fintech, green finance and blockchain, linking digital financial services to real assets and local socio-economic development programmes. He stressed that the credibility of the IFC would depend heavily on strict compliance with anti-money laundering standards, risk governance and financial transparency, alongside commitments to green transformation, innovation and sustainability.

Executive Council for Vietnam International Financial Center set up

VOV.VN - Prime Minister Pham Minh Chinh has signed a decision to establish the Executive Council of the Vietnam International Financial Centre, appointing Deputy Prime Minister Nguyen Hoa Binh as its chairman.