HCMC – HCMC aims to complete its proposal for establishing an international financial center within this month, senior city officials said today January 2.
Nguyen Van Nen, secretary of the HCMC Party Committee, chaired a meeting to review preparations for a government resolution conference on the project. The city must finalize the proposal and present it to the National Assembly in May 2025 following a directive from the central Government.
The proposal will outline legal frameworks, regulatory mechanisms, and policy incentives to ensure the financial center operates effectively.
A 30-member steering committee, led by Nen, will oversee the project. A task force, headed by Phan Van Mai, chairman of the city’s People’s Committee, will manage daily operations and coordinate efforts with central agencies.
Officials said the city has studied international financial centers and consulted experts to shape its plans. The HCMC Finance and Investment State-owned Company (HFIC) has been assigned to lead the initiative and collaborate with national agencies.
Nen urged local agencies to quickly issue regulations, create action plans, and finalize the proposal. He also called for policies leveraging the city’s unique authority under Resolution 98, which grants it flexibility to pilot new mechanisms.
The financial center is part of broader efforts to enhance Vietnam’s regional and global competitiveness.
