PM URGES BUILDING INT’L FINANCIAL CENTRE WITH TRANSPARENT, OPEN LEGAL ENVIRONMENT

Policies must ensure property rights, freedom of business, and freedom of movement for all entities participating in the financial centre.

Prime Minister Phạm Minh Chính chairs a meeting of the steering committee on building regional and international financial centres on May 22. — VNA/VNS Photo Dương Giang

HÀ NỘI — Prime Minister Phạm Minh Chính on Thursday requested the establishment of an international financial centre in Việt Nam with a transparent and open legal environment, modern and seamless infrastructure that meets development needs and aligns with global trends and Vietnam's specific conditions.

Chairing a meeting of the steering committee on building regional and international financial centres on the development of the National Assembly’s draft Resolution on the establishment of the international financial centre in Việt Nam, PM Chính, who is head of the steering committee, highlighted the need for a highly qualified and professional workforce, and smart and modern governance.

The centre’s mechanisms, policies, infrastructure, human resources, and governance must be superior to those of others, he emphasised.

Noting that the goal of establishing the centre is to attract medium- and long-term capital, both direct and indirect, from both the public and private sectors, to serve the country’s rapid and sustainable development, the Government leader stressed that policies must ensure property rights, freedom of business, and freedom of movement for all entities participating in the financial centre.

With the view that Việt Nam's international financial centre must be a “free and equal playing field, with harmonised benefits and shared risks,” the PM said that its operation must respect market mechanisms; capital within the centre must be allowed to flow freely; and all related procedures must be streamlined, with all unnecessary sub-licenses eliminated.

He agreed on the selection of HCM City and Đà Nẵng as the locations for the international financial centre, saying while both will operate under unified management, each will maintain distinct characteristics.

Agreeing on the location of the international financial centre to be in both HCM City and Đà Nẵng, with unified management but distinct characteristics, PM Chính requested the swift finalisation of reports, the draft resolution, and an action programme, to be submitted to the relevant authorities, ensuring timely and high-quality completion. — VNA/VNS

Source: VNS