Hanoi (VNA) – Deputy Prime Minister Nguyen Van Thang has called for swift and effective operations of the Vietnam International Financial Centre in Ho Chi Minh City and Da Nang, stressing that “progress comes from action” and must go hand in hand with firm, reliable implementation.
Chairing a meeting with ministries, agencies, and authorities of the two cities on April 24, he underscored that all fundamental conditions are now in place, and it's time to focus on swift and decisive implementation to deliver tangible results.
He urged relevant bodies to maintain strict risk control to safeguard the national financial system while creating a high-quality environment capable of attracting major global financial institutions. Investment attraction, he noted, must be substantive and avoid formality.
Ministries, sectors, and the two cities were asked to promptly complete the assigned tasks to ensure the centre meet all requirements for smooth operation.
Thang tasked the Ministry of Finance (MoF) with leading coordination efforts to improve the efficiency of the Steering Committee and Executive Council for the centre, and promoting the proactive role of Ho Chi Minh City and Da Nang.
Meanwhile, central agencies were requested to accelerate the building of management and supervisory mechanisms in line with their functions, with proposals to be submitted to the Prime Minister within April.
Regarding operational regulations, the People’s Committee of Ho Chi Minh City was assigned to collect feedback and appraisal opinions before submitting the rules for promulgation.
The MoF, in coordination with relevant agencies and the two cities, was also instructed to review the overall development strategy and the Executive Council’s 2026 working programme.
On the establishment of a supervisory body, the People’s Committee of Ho Chi Minh City was directed to coordinate with the State Bank of Vietnam and related ministries to implement Government directives and report progress to the Government before May 15.
The Deputy Prime Minister further asked the MoF to review the implementation of tasks under Decision No. 114 (dated August 1, 2025), clarifying the items completed and pending work, and report to the Prime Minister before May 10.
Deputy Minister of Finance Nguyen Thi Bich Ngoc noted that the legal framework for the International Financial Centre has largely been completed, providing a foundation for transitioning to the operational phase. Key operational regulations are now in the final stage of formulation.
In Ho Chi Minh City, 15 investors have received membership commitment certificates, and several major projects are under development, including a commodity exchange, financial hubs for maritime and aviation sectors, a venture capital fund, green finance initiatives, and international payment and clearing systems.
Meanwhile, Da Nang has signed 20 memoranda of understanding with partners, is negotiating additional agreements, and has granted membership registration certificates to 12 investors. It is continuing to process further applications, Ngoc said.
Participants stressed the urgency of finalising operational regulations and establishing a supervisory body. Infrastructure development—both physical and digital—was identified as essential, alongside strong connectivity with national systems.
Human resources were also highlighted as a decisive factor, with calls for competitive policies to attract high-quality financial professionals, including international experts./.
