Prime Minister Pham Minh Chinh chairs a meeting of the Government Standing Committee on the development of international financial centers in Ho Chi Minh City and Da Nang. )Photo: Lai Hoa/VOV)

At a government meeting on Saturday discussing the development of an international financial center, PM Chinh said the financial center development must be resolutely accomplished in accordance with the 13th Party Congress Resolution and the Politburo's directives to support rapid and sustainable national development.

He highlighted that the center aims at luring resources for rapid and sustainable development, supporting the implementation of the three strategic breakthroughs, and promoting green economy, digital economy, and circular economy. Besides, it is expected to bolster three traditional growth drivers and emerging drivers as well as foster startup and innovation.

At the meeting

Mr. Chinh called for new reports and proposals to be submitted to the Politburo, incorporating feedback from the Politburo and relevant agencies. Related agencies must finalize drafts of the Politburo's conclusion, the National Assembly's resolution, and the Government's action plan on establishing the center, with clear assignments of responsibilities, timelines, deliverables, and authority.

According to the Politburo's conclusion on establishing a comprehensive international financial center in Ho Chi Minh City and a regional financial center in Da Nang, these facilities will operate under exceptional management mechanisms that enhance competitiveness while implementing appropriate risk management and oversight protocols.

Over the past time, the PM has directed numerous meetings with ministries, agencies, and the authorities of Ho Chi Minh City and Da Nang to develop the financial center proposal. These discussions have focused on key strategies including developing modern financial infrastructure, building leading payment and securities trading systems, attracting international talent with competitive incentives, and creating an appealing living and working environment for leading global financial experts.

Other priorities include promoting financial innovation with new instruments such as green finance, financial technology (fintech), and financial risk management, expanding international integration, and ensuring financial security through enhanced oversight and risk management to maintain system stability.