Deputy Minister Nguyen Thi Bich Ngoc chaired the Workshop on drafting the National Assembly Resolution on Financial Center (See photo news) (See video news)

(MPI) - On February 18, 2025, at the headquarters of the Ministry of Planning and Investment, Deputy Minister Nguyen Thi Bich Ngoc chaired a workshop to collect opinions from ministries, branches, localities, domestic and international experts and financial investors on the development of a draft Resolution of the National Assembly on the construction of a regional and international financial center in Vietnam.

Deputy Minister Nguyen Thi Bich Ngoc chaired the Workshop on drafting the National Assembly Resolution on Financial Center. Photo: MPI

Speaking at the opening of the workshop, Deputy Minister Nguyen Thi Bich Ngoc said that, in carrying out the assigned tasks, over the past time, the Ministry of Planning and Investment has actively coordinated with relevant ministries, branches and localities in preparing documents to build a Resolution of the National Assembly on the establishment of a regional and international financial center (TTTC) in Vietnam. From the political, legal and practical basis at home and abroad, the construction of a Resolution on international and regional financial centers in Vietnam is extremely necessary.

TTTC will become a new, important driving force to promote investment capital flows, boost trade and financial activities, and contribute significantly to making Vietnam appear on the map of development centers of the world .

Regarding the policy and policies for building the financial market, Deputy Minister Nguyen Thi Bich Ngoc said that in Notice No. 47-TB/TW dated November 15, 2024 of the Politburo, the Politburo agreed on the policy to allow the application of policies for building the financial market and the implementation roadmap. In particular, from now until 2030, 8 groups of policies in accordance with international practices and Vietnam's conditions will be issued and immediately implemented, and at the same time, 6 groups of policies will be piloted in major financial markets in the world and in accordance with Vietnam's actual conditions.

In terms of practical basis, according to Deputy Minister Nguyen Thi Bich Ngoc, there are currently 121 financial centers in the world and there is strong competition to become the leading financial centers, with attractive, innovative products, suitable for movement and development. The need for a new financial center, different from the existing financial centers to receive financial resources transferred from large international financial centers, provide new financial services, access new markets, new development trends... is urgent, and Vietnam is currently a bright spot in development and towards the formation of a financial center.

In general, in the process of drafting the National Assembly Resolution, the Ministry of Planning and Investment has received many opinions from relevant ministries, branches and localities on general regulations, terms and policies for TTTC. The Deputy Minister suggested that delegates at the Workshop focus on giving their opinions to build competitive and outstanding policies and institutions to effectively attract foreign investors and in accordance with Vietnamese law.

Overview of the Workshop. Photo: MPI

Participating in the workshop, representatives of the ministries of Finance, Industry and Trade, Information and Communications, the State Bank..., Ho Chi Minh City and Da Nang and domestic and international experts such as TheCityUK, BCG all highly appreciated the efforts of the Ministry of Planning and Investment in the process of drafting the National Assembly Resolution; at the same time, they focused on discussing some specific contents, proposing institutions and financial products in which Vietnam has strengths, mechanisms to attract foreign talents and train high-quality human resources, the legal framework must ensure practicality to be able to operate the financial market; discussed some specific contents on controlled testing policies (sandbox) for business models applying technology in the financial sector (fintech), tax policies, finance, capital market development...

Some opinions also said that the draft Resolution of the National Assembly on building regional and international financial markets in Vietnam needs to have a specific framework policy, clearly identifying Vietnam's strengths to attract all financial resources and form a healthy, safe, integrated and sustainable financial market.

Concluding the meeting, Deputy Minister Nguyen Thi Bich Ngoc thanked and appreciated the opinions of the delegates; At the same time, she analyzed and clarified some of the contents raised by the delegates and affirmed that the opinions at the meeting will be an important basis for the Ministry of Planning and Investment to continue to research and absorb to complete the draft Resolution of the National Assembly on the Financial Center, and report to competent authorities as prescribed.

The draft Resolution of the National Assembly on financial market is being consulted by the Ministry of Planning and Investment with relevant ministries, branches and localities. The Resolution is being developed with the aim of institutionalizing the Party's policies, viewpoints and directions on developing regional and international financial markets in Vietnam; Developing the financial market to effectively mobilize resources and financial services to serve the socio-economic development of localities with financial markets in particular and Vietnam in general in the direction of ensuring transparency, efficiency, modernity, advancement, keeping up with international standards; promoting the process of Vietnam's deep participation in the world economy./.

Bao Linh

Ministry of Planning and Investment

Source: https://www.mpi.gov.vn/portal/Pages/2025-2-18/Minister-Nguyen-Thi-Bich-Ngoc-chu-tri-Hoi-thao-vi9k68e.aspx