The National Assembly discusses a draft Resolution on establishing an international financial center in Ho Chi Minh City and Da Nang.

The draft Resolution proposes a range of special and preferential mechanisms and policies to attract international capital, develop high-end financial services, and connect with major global financial hubs.

National Assembly deputies agreed with the establishment of an international financial center in Vietnam, noting that the country is a bright spot for economic growth and macroeconomic stability.

Hoang Van Cuong, a deputy for Hanoi, said: “Vietnam is late in building an international financial center. Therefore, we must offer outstanding advantages to attract global investors and apply open legal regulations aligned with international legal systems. Vietnam has relatively strong IT infrastructure and potential human resources in tech and cybersecurity. It’s necessary to create a pioneering, open, and attractive ecosystem for developing digital finance, digital assets, and Fintech applications at the international financial center in Vietnam.”

Ho Chi Minh City is positioned as the center of capital market, linked with asset management, insurance, Fintech, and commodity exchanges. Meanwhile, Da Nang will focus on green finance, trade finance, and cross-border financial services.