The proposed New Generation Free Trade Zone aims to introduce exceptional and breakthrough mechanisms and policies to attract investment, finance, trade, and services.
Direct flight routes between Vietnam and South Africa, if in service, would optimize transportation time and costs while enhancing the competitiveness of businesses from both nations.
"The development of the financial center is one of the strategic spearheads to help transform the growth model, improve resource utilization efficiency, and strengthen Vietnam's position on the international stage," Minister of Finance stated.
The assets under management of securities investment funds remain modest relative to their potential, representing just 6.5% of Vietnam's GDP, compared to 21% in Thailand and 52% in Malaysia.