On January 2, Nguyen Van Nen, Secretary of the Ho Chi Minh City Party Committee, chaired a meeting to discuss the preparations for the upcoming conference. The conference, scheduled for January 4, will announce the Government’s resolution to issue an action plan to implement the Political Bureau’s Conclusion No. 47-KL/TW from November 2024. This conclusion focuses on developing a regional and international financial center in Vietnam.
The event will be hosted by the Ministry of Planning and Investment, the People’s Committee of Ho Chi Minh City, and the People’s Committee of Da Nang.
According to Phan Van Mai, Chairman of the City People’s Committee, the Government will decide to establish a Central Steering Committee and two local steering committees in Ho Chi Minh City and Da Nang to oversee the development of the financial center.
Consequently, Ho Chi Minh City will form a steering committee for the construction and development of the international financial center, headed by Nguyen Van Nen, Secretary of the City Party Committee. The committee will comprise approximately 29 members, including leaders of relevant agencies, sectors, and organizations in the city.
Secretary of the Ho Chi Minh City Party Committee, Nguyen Van Nen, leads the steering committee for the city’s international financial center development. Photo: Thai Phuong |
Phan Van Mai emphasized the significance of establishing an international financial center in the city, stating that it is a crucial, novel, and challenging endeavor. He believes that it will serve as a new impetus for the city’s development in the coming years and that preparations must be made to embrace this opportunity.
City leaders have instructed relevant departments to proactively propose mechanisms and policies related to infrastructure, human resources, and the organizational structure of the international financial center.
Chairman Phan Van Mai highlighted five critical factors for the center’s success: mechanisms and policies, infrastructure investment, human resources, organizational structure, and a favorable investment environment for investors.
Speaking at the meeting, Secretary Nguyen Van Nen acknowledged the city’s early initiatives in preparing for the establishment of the international financial center. He mentioned the extensive research and learning from other international financial centers, as well as the city’s organization of workshops and seminars to gather insights from experts and scientists. Nen also noted that the HFIC (State Financial Investment Company) has been tasked with providing advice, monitoring, and coordinating with central agencies.
 The development of the international financial center will serve as a new impetus for the city’s acceleration, growth, and breakthrough in the coming years. Photo: Hoang Trieu
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The city has made comprehensive preparations, including drafting the decision to establish the international financial center and other related plans. It has been agreed to form a steering committee comprising 29 members, led by the Secretary of the City Party Committee. The members will be leaders of relevant agencies. Additionally, a task force will be established, headed by the Chairman of the City People’s Committee, to oversee and direct the center’s development.
Secretary Nguyen Van Nen instructed the agencies to promptly issue regulations and plans, as well as assign coordination among agencies, to prepare for the submission of documents to the National Assembly during its May 2025 session. These documents will include policies, mechanisms, and legal frameworks to ensure the smooth operation of the international financial center in Ho Chi Minh City.
Given the city’s Resolution 98 on special mechanisms, Nen emphasized the importance of building upon this foundation to create suitable mechanisms and policies for the international financial center. He believes that this will open up new opportunities commensurate with the city’s potential and advantages. This development is considered a crucial stepping stone for the city’s accelerated growth, aiming for double-digit growth rates. It also presents an opportunity to attract international investors and increase FDI in key economic sectors. Nen expressed his confidence in the city’s ability to attract investors in the fields of banking, investment funds, and large financial enterprises from the region and worldwide.
Thai Phuong
– 14:06 01/02/2025
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