Business

PM orders clarifying operation of regional, int’l financial centres

Prime Minister Pham Minh Chinh on September 30 asked competent ministries, sectors, Ho Chi Minh City and Da Nang city to clearly define the scope and operating model of regional and international financial centres to be established in Vietnam.

PM Pham Minh Chinh chairs a meeting between the permanent cabinet members and the steering committee for developing the project on regional and international financial centres on September 30. (Photo: VNA)
PM Pham Minh Chinh chairs a meeting between the permanent cabinet members and the steering committee for developing the project on regional and international financial centres on September 30. (Photo: VNA)

Hanoi (VNA) – Prime Minister Pham Minh Chinh on September 30 asked competent ministries, sectors, Ho Chi Minh City and Da Nang city to clearly define the scope and operating model of regional and international financial centres to be established in Vietnam.

He made the statement while chairing a meeting between the permanent cabinet members and the steering committee for developing the project on regional and international financial centres. The event was attended by Standing Deputy PM Nguyen Hoa Binh, Secretary of the Party Committee of Ho Chi Minh City Nguyen Van Nen, Deputy PM Tran Hong Ha, and leaders from ministries, sectors and the two cities.

PM Chinh stated that the financial centres are built for the formation of a financial market and development of financial services, aimed at mobilising financial resources for the development of the two cities in particular and the country as a whole.

Relevant sides must work on conditions regarding infrastructure, human resources, financial, land and ecosystem for the financial centres while proposing their missions and operating mechanisms. They also need to develop a legal framework, including visa and tax incentives, to attract financial resources, especially green and digital finance, he stressed.

The Government leader said the moves are intended to shape up a healthy, safe and integrated financial market to tap the potential and advantages of Vietnam, including Ho Chi Minh City and Da Nang city, to the fullest extent.

Against the backdrop, he ordered ministries and sectors to continue consulting international models and ramp up efforts to complete the project, ensuring that it is feasible, effective, and aligned with practical conditions./.

VNA
#Prime Miníter Pham Minh Chinh #financial market #legal framework #financial centres #Ho Chi Minh City #Da Nang #financial services Da Nang Ho Chi Minh City
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