On the evening of May 9, Prime Minister Pham Minh Chinh chaired a government standing committee meeting with relevant ministries, sectors, and local authorities to discuss the establishment of an international financial center in Vietnam.

The session also aimed to finalize proposals and reports for submission to the appropriate authorities, in accordance with the latest directives from the Politburo and the General Secretary.

The Prime Minister reiterated that building such a center is an urgent national priority and must be successfully realized as outlined in the 13th Party Congress Resolution and the Politburo’s guidance, contributing to Vietnam’s rapid and sustainable economic advancement.

He stressed that success will require a special mechanism to attract development capital, ensuring both national growth and investor profitability.

The Prime Minister directed the preparation of updated reports and proposals for the Politburo, incorporating feedback and newly emerging insights from involved agencies.

These documents must clearly outline Vietnam's comparative advantages, assess the positive impacts and potential risks, and propose mitigation strategies. A distinct development strategy for the financial center should be presented, emphasizing key sectors and priority areas.

It should also recommend breakthrough and superior policies - especially regarding institutions and regulatory frameworks - that ensure national independence and sovereignty while maintaining openness, modern infrastructure, seamless connectivity, and a highly skilled workforce.

The proposal must clearly define a strategy to attract foreign capital across both traditional and emerging sectors, through both direct and indirect channels, and from public and private sectors alike. This includes both physical and digital investment environments.

Prime Minister Pham Minh Chinh underlined that the purpose of establishing an international financial center is to mobilize resources for rapid, sustainable development driven by science, technology, and innovation.

It also aims to promote both traditional and new growth drivers and support startups and innovation. As such, the center must be backed by a bold, compelling policy framework capable of attracting investors from the Middle East, China, ASEAN, the US, and Europe.

The Prime Minister assigned Standing Deputy Prime Minister Nguyen Hoa Binh to oversee and direct ministries, sectors, and localities in reviewing their responsibilities and ensuring the timely and high-quality completion of reports, proposals, draft conclusions, resolutions, and action plans by the Politburo, National Assembly, and Government regarding the international financial center in Vietnam.

The Vinh