Minister of Finance Nguyen Van Thang speaking – Photo: VGP
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Speaking at the meeting of the Steering Committee for the International Financial Center on the afternoon of January 16 in Hanoi, Minister of Finance Nguyen Van Thang stated that, following the assignment from the Head of the Steering Committee, Prime Minister Pham Minh Chinh, the committee has diligently implemented all conclusions and directives from the Politburo regarding the establishment of an International Financial Center in Vietnam. The focus has been on three strategic task groups.
According to the Minister, these tasks center on establishing an inter-ministerial coordination mechanism, developing a breakthrough legal framework, and perfecting judicial institutions in line with international standards. These efforts aim to create a stable, transparent, and regionally competitive foundation for the International Financial Center.
Regarding implementation, the Government has issued Resolution No. 259/NQ-CP on the action plan to execute Conclusion No. 47-TB/TW of the Politburo. This resolution assigns tasks for building and perfecting the institutional framework for the International Financial Center.
Based on this, the Prime Minister has approved the list of members for the Steering Committee on the Regional and International Financial Center in Vietnam. The committee’s composition was adjusted following relevant resolutions issued by the National Assembly. As of August 1, 2025, the Steering Committee for the International Financial Center in Vietnam was officially established, providing a unified focal point for leadership, coordination, and implementation.
Basic Legal Framework Completed in 2025
A significant milestone was the National Assembly’s adoption of Resolution No. 222/2025/QH15 on the International Financial Center in Vietnam on June 27, 2025. This resolution establishes key principles and policy frameworks, providing the legal basis for the formation and operation of the International Financial Center.
Implementing the National Assembly’s resolution, the Government issued eight guiding decrees in December 2025, covering critical areas such as the establishment of the International Financial Center, financial policies, labor and social welfare, land and environment, immigration and residency, banking, foreign exchange, anti-money laundering, international arbitration centers, and the establishment of a commodity exchange. According to Minister Nguyen Van Thang, this system of decrees creates a comprehensive legal framework to attract financial institutions, investment funds, and international investors.
Judicial Institutions Aligned with International Practices
Alongside economic institutional reforms, the judicial framework for the International Financial Center has been accelerated. On June 24, 2025, the National Assembly passed the Law Amending and Supplementing the Law on the Organization of People’s Courts, which includes provisions for a specialized court for the International Financial Center.
Subsequently, Law No. 150/2025/QH15 on the Specialized Court at the International Financial Center was enacted on December 11, 2025. This law outlines procedural principles aligned with common law systems, adhering to international practices and the requirements for resolving financial and investment disputes. “These tasks have been completed on schedule, ensuring quality and closely following the strategic directives of the Politburo and the Government,” affirmed Minister Nguyen Van Thang.
Focus for 2026: Transitioning from Policy Framework to Practical Implementation
Looking ahead, the Minister stated that the Steering Committee will continue to provide strategic direction while mobilizing and allocating resources to develop the infrastructure and advance the International Financial Center according to the outlined roadmap.
In the first quarter of 2026, the focus will be on finalizing remaining regulations and issuing the Operating Regulations for the International Financial Center. These will serve as specific guidelines for financial organizations, investment funds, financial institutions, corporations, and investors participating in its activities.
Additionally, Ho Chi Minh City and Da Nang have been instructed to urgently strengthen their management structures, recruit personnel for administrative bodies, and develop localized financial center development roadmaps. These plans should be complementary, leveraging each locality’s unique strengths.
Key infrastructure projects linked to the International Financial Center will also be expedited, encompassing core areas, urban spaces, transportation connectivity, social infrastructure, and technical-technological infrastructure. These efforts aim to ensure living and working conditions meet regional and international standards.
Emphasizing the need for expanded international cooperation, Minister Nguyen Van Thang urged ministries, sectors, and localities to collaborate with international organizations. This collaboration will involve researching and proposing new mechanisms, policies, and governance models that align with international practices while addressing Vietnam’s development realities.
– 19:28 16/01/2026
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