Hanoi (VNA) - Standing Deputy Prime Minister Nguyen Hoa Binh has stressed the need to ensure the best possible standards for eight decrees implementing the National Assembly's Resolution No. 222/2025/QH15 on the establishment of an International Financial Centre (IFC) in Vietnam.
Speaking at a meeting with ministries, agencies and representatives from Ho Chi Minh City and Da Nang to review progress on drafting the decrees, Binh noted that among the eight decrees, the Ministry of Finance was assigned to take the charge of drafting two, while the State Bank of Vietnam, and the Ministries of Industry and Trade; Home Affairs; Agriculture and Environment; Justice; and Public Security are responsible for one each.
To date, five decrees have been submitted to the Government. They are related to the international arbitration centre under the IFC and the application of laws and dispute resolution at the IFC; the guiding of land and environmental policy in the IFC; labour, employment and social security policy in the IFC; and the regulations on licencing for establishment and operation of banks, foreign exchange management, anti-money laundering, counter-terrorist financing and measures against proliferation financing at the IFC; and the establishment of the IFC in HCM City and Da Nang.
The draft decree on import-export policy, distribution of goods and services, trading floors and trading platforms for the IFC has received a legal appraisal from the Ministry of Justice.
At the same time, the draft decree on financial policy for the IFC and the draft decree on residence and immigration policy for the IFC are still under development, said the Deputy PM.
At the meeting, ministries and agencies reported in detail on the drafting status, outstanding issues and proposed remedies.
Noting that Resolution 222 has been effective since September 1, Binh said that the decrees to implement it carry great importance and will provide the legal foundation for its rollout. He emphasised that the drafts must be of the highest quality and meet the intended objectives.
Highlighting that HCM City and Da Nang will be the two localities directly implementing the IFC, he urged both cities to review the drafts carefully and participate actively in the consultation process.
Binh said that, after ministries and agencies finalise the drafts, the Government will convene a special session to consider them. Each decree will be presented to the Government for discussion by the minister or head of agency who is responsible for that field, he added./.
VNA
