Prime Minister: FinancialPrime Minister: Financial Hub Policies Must Align with International Standards While Offering Greater Competitiveness

In attendance were Deputy Prime Ministers, Ministers, Heads of Governmental Agencies, leaders of ministries, sectors, and central agencies, as well as leaders from Ho Chi Minh City and Da Nang.

During the 9th Session, the National Assembly adopted Resolution No. 222 on the International Financial Center in Vietnam. Subsequently, the Government established a Steering Committee, organized numerous meetings, and directed the study of international experiences in establishing the International Financial Center in Vietnam. Ministries and sectors have drafted eight Government decrees to guide the implementation of Resolution No. 222.

After a morning of intense, serious, and responsible work, the Government reviewed and provided feedback on eight decrees guiding the implementation of National Assembly Resolution No. 222/2025/QH15 on the International Financial Center in Vietnam. These include: (1) Decree on labor, employment, and social security in the International Financial Center in Vietnam; (2) Decree on land and environmental policies in the International Financial Center in Vietnam; (3) Decree on the International Arbitration Center within the International Financial Center in Vietnam; (4) Decree on the establishment of the International Financial Center in Vietnam; (5) Decree on financial policies in the International Financial Center in Vietnam; (6) Decree on licensing the establishment and operation of banks, foreign exchange management, anti-money laundering, counter-terrorism financing, and counter-proliferation financing of weapons of mass destruction in the International Financial Center in Vietnam; (7) Decree on the establishment and operation of Commodity Exchanges and commodity trading in the International Financial Center in Vietnam; (8) Decree on entry, exit, and residence policies for foreigners in the International Financial Center in Vietnam.

After discussions and specific feedback on each issue, Prime Minister Phạm Minh Chính commended and praised the Deputy Prime Ministers, Ministers, and Heads of Governmental Agencies for their efforts and dedication in drafting the decrees, which were substantially completed within four months of the National Assembly’s issuance of Resolution 222.

After discussions, Government members generally agreed with the content of the decrees. Specifically, the Decree on the establishment of the International Financial Center in Vietnam only outlines functions, tasks, authority, organizational structure, and personnel management.

The Prime Minister emphasized several key directives, including the establishment of a unified Steering Committee by the Prime Minister, a unified management board with two branches in two cities, a unified oversight body, and a unified dispute resolution body. Personnel at the center will be recruited according to international principles and practices, including both domestic and international talent, ensuring the highest quality to meet the center’s operational requirements.

Regarding key principles, the Prime Minister stressed that the decrees must closely align with Vietnam’s current situation to formulate effective and suitable policies, adhering to the resolutions, conclusions, and directives of the Central Committee, the Politburo, and the National Assembly. They must concretize the Party’s guidelines and policies, ensuring high principles while remaining flexible, feasible, and effective. They must also follow international practices but innovate to create more competitive mechanisms and policies to attract resources.

Additionally, the principle of assigning one person responsible for each task must be upheld, with maximum decentralization and resource allocation to enhance implementation capacity and design oversight and inspection tools. Post-inspection should be strengthened while pre-inspection is reduced to expedite procedures and facilitate investors. Policies must be breakthrough, superior, and based on the principles of openness, transparency, ease of understanding, implementation, inspection, and supervision.

Highly appreciating the insightful, practical, and high-quality opinions of Government members, the Prime Minister instructed Ministers and Heads of Governmental Agencies to incorporate feedback from the meeting and finalize the draft decrees. Deputy Prime Ministers overseeing respective areas were tasked with continuing to direct and submit the decrees for issuance before November 15.

Cities must immediately establish mechanisms and policies within their authority, proactively prepare locations and organizational structures, and complete these tasks by November 15. After the decrees are issued, tasks within the authority and responsibilities of individuals must be executed, with decisions made accordingly and reported if beyond authority.

The Prime Minister requested Deputy Prime Ministers and Government members to proactively, actively, and creatively implement their tasks, taking responsibility within their authority, with a spirit of acceleration, breakthrough, innovation, and effectiveness in execution.