Standing Deputy Prime Minister Nguyen Hoa Binh held a working session with leaders of Ho Chi Minh City and central Da Nang city on February 11 to discuss the operation of Vietnam's International Financial Centre (VIFC).
The meeting took place shortly after the VIFC was officially launched in Ho Chi Minh City earlier the same day.
Deputy PM Binh highlighted three key pillars for the development of the VIFC: a robust legal framework, modern digital infrastructure, and strong governance and human resources.
He directed both cities to further refine their development strategies with clear roadmaps, concrete goals and well-defined implementation steps. They were also urged to study best practices from leading global financial hubs such as Singapore, Hong Kong (China), and Dubai (the UAE), while proposing tailored mechanisms and policies suited to Vietnam’s specific conditions.
Ho Chi Minh City and Da Nang have been tasked with jointly developing a strategy for the international financial centre in their respective localities.
Under the plan, Ho Chi Minh City will focus on building a regulatory sandbox framework and advancing the application of technologies such as blockchain, artificial intelligence and asset tokenisation. The city also aims to develop aviation finance, digital finance and fintech, maritime finance, and an international interbank system.
Meanwhile, Da Nang will prioritise digital assets, digital payments and fintech, along with establishing and operating specialised platforms and exchanges. The city will also promote financial services linked to innovation, startups, trade finance, supply chain financing and sustainable finance, while piloting controlled experiments with new financial models.
Google translate