Keyword: "international financial centre"

Under the Politburo's conclusion, an international financial centre in Ho Chi Minh City and a regional financial centre in Da Nang will operate under exceptional management mechanisms that enhance competitiveness while implementing appropriate risk management and oversight protocols.

The establishment of an international financial centre is expected to serve as a catalyst to accelerate the city’s transformation and position it for breakthrough growth in the coming years.

Speaking at a meeting with representatives from ministries, agencies, international institutions, banks, investment funds and investors in Hanoi, Binh said that the Government of Vietnam is committed to always accompanying businesses, creating the most favourable conditions for enterprises to expand their investment in international financial centres in Vietnam as well as invest in other ecosystems that they are interested in.

According to Richard D. McClellan, former Country Director of the Tony Blair Institute in Vietnam, establishing an international financial centre is not a matter of if but when, and it is a necessity.

PM Pham Minh Chinh stressed that it is necessary to build modern, digitally advanced financial centres with smart operation and management systems as well as high-quality human resources.

Financial experts expressed their willingness to share knowledge, expertise, and support Vietnam’s access to vital capital, while as assisting Vietnam in training and recruitment of highly skilled financial professionals to ensure the swift and effective development of the financial centres. Additionally, they committed to connecting Vietnamese businesses with German and international investors.

Pham Thi Huong Ly, Master of Accounting and Audit, Financial Reporting Manager at Aztec Luxembourg which specialises in investment fund financial services, shared that drawing from her experience in Luxembourg, Vietnam, and Singapore to establish a successful international financial centre, it is necessary to build a transparent institutional framework that protects investor rights.

Deputy Prime Minister Bui Thanh Son proposed the UAE consider establishing a transit and storage centre for crude oil and petrochemical products in Vietnam, and support the Southeast Asian nation in green transition and renewable energy initiatives.

Within the framework of the 55th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland, Prime Minister Pham Minh Chinh on January 21 (local time) attended a roundtable on developing the Centre for the Fourth Industrial Revolution and an international financial centre in Ho Chi Minh City, during which he expressed his hope to learn from foreign friends’ experiences in this work.

The following is a list of selected news summaries reported last night by the Vietnam News Agency.

Prime Minister Pham Minh Chinh on January 21 attended a roundtable on developing the Centre for the Fourth Industrial Revolution (C4IR) and an international financial centre in Ho Chi Minh City, during which he expressed his hope to learn from foreign friends’ experiences in this work.

Permanent Deputy Prime Minister Nguyen Hoa Binh has demanded ministries, sectors, and localities to concentrate on five key tasks to make it easier for developing international financial centres in Vietnam.

Argentine media has lauded Vietnam’s landmark decision to establish an international financial centre in Ho Chi Minh City – the nation’s economic and commercial powerhouse, marking a pivotal shift in the Government’s economic development strategy.

Deputy head of the Party Central Committee's Economic Commission Nguyen Hong Son on March 13 asked Da Nang to work harder to implement the project on developing the central city into an international financial centre at the regional scale.

Vice Chairman of the People’s Committee of Ho Chi Minh City Vo Van Hoan on January 25 worked with a delegation of newly-appointed heads of Vietnamese representative agencies abroad, led by Ambassador Mai Phan Dung, Permanent Representative of Vietnam to the UN, WTO and other international organisations in Geneva, Switzerland.

Prime Minister Pham Minh Chinh chaired a talk with representatives from world leading banks and financial investment funds on investment in Vietnam’s financial market in Davos, Switzerland, on January 17 (local time), on the sidelines of the 54th Annual Meeting of the World Economic Forum (WEF-54).

National Assembly (NA) Chairman Vuong Dinh Hue, Secretary of the Party Delegation at the National Assembly, on December 19 chaired a meeting between the NA Party Delegation and the Standing Board of the Party Committee of Ho Chi Minh City on devising a project to build a draft resolution on pilot mechanisms and policies for the development of the city to replace the NA's Resolution 54.

The development of an international financial centre in Ho Chi Minh City must be associated with the planning work and socio-economic development of the locality, as well as a political consensus, according to experts.

Prime Minister Nguyen Xuan Phuc has asked the Government Advisory Group to submit a document by April 30 outlining necessary steps to turn Ho Chi Minh City into an international financial centre.

A leader of Ho Chi Minh City on January 17 expressed his hope that the World Bank (WB) will assist Vietnam’s southern economic hub to build an international financial centre.