The request was made at a Government meeting on November 4 in Hanoi to discuss draft decrees guiding the implementation of National Assembly Resolution No. 222 on the establishment of an international financial center in Vietnam.

At the session, delegates provided feedback on eight draft decrees, including: a decree establishing the international financial center in Vietnam; a decree guiding labor, employment, and social security policies within the center; a decree on land use and environmental policies  at the international financial center ; a decree on the international arbitration center under the international financial center; a decree on financial policies in the center; a decree on licensing the establishment and operation of banks, managing foreign exchange, and combating money laundering, terrorist financing, and the proliferation of weapons of mass destruction within the center; a decree on the establishment and operation of a commodities exchange and the trading of goods and services within the center; and a decree on policies and progress regarding entry, exit, and residence of foreigners at the international financial center.

Concluding the session, PM Chinh praised the efforts of the Ministry of Finance, Ministry of Justice, State Bank of Vietnam, Ministry of Home Affairs, Ministry of Industry and Trade, Ministry of Agriculture and Environment, and Ministry of Public Security for actively preparing and submitting the draft decrees. He largely agreed with the eight draft decrees, noting that the decree on organization only stipulates functions, tasks, powers, and personnel matters.

He asked the Ministry of Finance to finalize the framework, specifying a Steering Committee as determined by the Prime Minister; a general executive board with two branches in two cities; a supervisory committee; and one court. Personnel and staff working at the Vietnam International Financial Center are to be recruited according to international principles and practices, meeting the requirements of the Center.

The draft decrees have been formulated based on Vietnam’s context to ensure effective policies. PM Chinh requested that they continue to follow the Party’s and National Assembly’s resolutions, concretize the Party’s orientations to ensure clarity, suitability, feasibility, and high principled standards; follow international practices to develop more competitive mechanisms and policies to attract resources; adhere to the “one task, one responsible person” principle; maximize decentralization and delegation, allocate resources, enhance implementation capacity, and design monitoring and inspection tools; increase post‑inspection while reducing pre‑inspection; and ensure that breakthrough mechanisms and policies are open, easy to inspect, and easily supervised.

PM Chinh also requested that the ministers continue refining the draft decrees in line with the session’s spirit and review them to ensure issuance before November 15, 2025.

“Ho Chi Minh City and Da Nang must issue the relevant mechanisms and policies and prepare operational locations and apparatuses within their authority. Once the decrees under a given authority are issued, the responsible parties must implement them. The aim is to finalize everything by November 15, 2025,” he emphasized

The Government leader also underlined the need for relevant agencies to implement measures proactively and creatively, with speed, breakthrough, efficiency, and full accountability within their authority.

Vietnam meets criteria for establishing international financial centers: PM Chinh

VOV.VN - Prime Minister Pham Minh Chinh has underscored that the construction and development of regional and international financial centers in Ho Chi Minh City and Da Nang will create a premise and a solid foundation for Vietnam to enter a new era, an era of the nation’s rise.