(MPI) - Minister of Planning and Investment Nguyen Chi Dung emphasised that building financial centers serves as a “boost” and a new driver for development not only for Ho Chi Minh City and Da Nang, but also for the entire country; and it plays a crucial role in achieving the objectives of the 13th National Party Congress Resolution, laying a foundation for Vietnam to enter a new era of prosperity and national strength.

Minister of Planning and Investment Nguyen Chi Dung speaks at the conference. Photo: VGP

He made his speech while attending a conference in Ho Chi Minh City on January 4 announcing the Government’s resolution on promulgating action plan to implement the Politburo’s conclusion on developing regional and international financial centers in Vietnam, chaired by Prime Minister Pham Minh Chinh.

Minister Nguyen Chi Dung stated that emerging financial centers like Vietnam have a golden opportunity to participate in this game by establishing an open legal framework, issuing superior incentive policies aligned with international practices, and creating an “arena” for top financial investors.

Ho Chi Minh City and Da Nang have been identified as having foundational factors to develop into regional and international financial centers. These cities are regarded as emerging financial centers with robust growth potential. This determination not only reflects Vietnam's aspirations but also aligns with the deep integration requirements of the global economy.

According to the minister, the recent approved Resolution No. 259/NQ-CP dated December 31, 2024 on promulgating the action plan to implement the Politburo’s Notice No. 47-TB/TW dated November 15, 2024 on building regional and international financial centres in Viet Nam focuses on five key priorities. Firstly, developing modern financial infrastructure to promote the establishment of leading payment, depository, and financial transaction systems.

Secondly, attracting international talent by creating incentive mechanisms, as well as attractive living and working environments, to draw top financial experts worldwide.

Thirdly, fostering financial innovation by developing new financial instruments such as green finance, financial technology (fintech), and financial risk management.

Fourthly, expanding international integration by cooperating with global financial organizations and adopting international financial standards.

Fifthly, ensuring financial security by enhancing supervision and risk management to maintain the stability of the financial system.

Minister Dung suggested that for Ho Chi Minh City and Da Nang, efforts should focus on allocating resources, preparing foundational conditions, and creating favorable conditions for developing financial centers, particularly in infrastructure (including hard, soft, and digital infrastructure), human resources, institutions, investment and business environments, and living conditions.

Emphasis should also be placed on mobilizing, engaging, and attracting strategic investors and financial institutions to invest in the financial centers of these localities.

For international partners, he urged them support ministries, sectors, and localities in studying and learning from international experiences in building and operating financial centers, provide recommendations and propose specific policies for the policy groups outlined in the project, helping the Vietnamese Government ensure the breakthrough nature of financial centers in Vietnam, as well as assist Vietnam in mobilizing investment resources and developing financial centers in Vietnam./.

Bao Linh

Ministry of Planning and Investment