Deputy PM calls for expert input on Vietnam’s international financial centre model

Deputy PM Nguyen Hoa Binh asked the Ministry of Finance to continue consulting experts, particularly international ones, to finalise the draft decree on establishing an IFC in Vietnam.

Deputy Prime Minister Nguyen Hoa Binh chairs a meeting with leaders of ministries, sectors, HCM City, and Da Nang to discuss the draft Government decree on establishing an IFC in Vietnam on October 22. (Photo: VNA)

Permanent Deputy Prime Minister Nguyen Hoa Binh has asked ministries, agencies, Ho Chi Minh City, and Da Nang to learn from international experience to shape the model for Vietnam’s international financial centre (IFC).

On October 22, the Deputy PM chaired a meeting with leaders of ministries, sectors, and the two cities to discuss the draft Government decree on establishing an IFC in Vietnam.

The decree, prepared by the Ministry of Finance (MoF), is one of the eight decrees assigned by the steering committee for the IFC establishment to ministries and agencies for implementing the National Assembly’s Resolution No. 222/2025/QH15.

The MoF is responsible for two decrees while the State Bank of Vietnam and the Ministries of Industry and Trade, Home Affairs, Agriculture and Environment, Justice, and Public Security are each in charge of one.

Deputy Minister of Finance Nguyen Thi Bich Ngoc said the ministry has circulated the draft for comments from relevant agencies and the two cities. It has also sought appraisal from the Ministry of Justice and organised workshops to collect expert feedback before completing the draft.

At the meeting, participants discussed key contents of the draft, especially the MoF’s proposal to the Government regarding the legal status of the IFC governing and supervisory bodies.

Vice Chairman of the HCM City People’s Committee Nguyen Van Dung said the city’s working group has actively contributed to drafting the decrees. Once all eight drafts are completed, HCM City and Da Nang will organise consultations with experts to gather additional feedback.

Dung stressed that choosing an effective model for the IFC is crucial to attracting investors. He said the general model should ensure central-level coordination, with the Government and the PM making decisions about the organisation and operation of the centre.

Concluding the meeting, Deputy PM Binh asked the MoF to continue consulting experts, particularly international ones, to finalise the draft decree.

He emphasised that the organisational model of the IFC is the most critical issue, which should be shaped basing on international experience.

Binh requested ministries, agencies, and particularly HCM City and Da Nang, to continue giving opinions on all the eight related decrees. He assigned HCM City to carefully draft the IFC’s operational regulations in consultation with Da Nang, the MoF, and the Ministry of Justice before submitting them to the Government.

Source: VNA