The Department of Science and Technology of Ho Chi Minh City has just sent a document to the Department of Telecommunications regarding the plan to develop telecommunications infrastructure and digital infrastructure to serve the construction of a regional and international financial center in the city.
According to the Department of Science and Technology of Ho Chi Minh City, the city plans to build a regional and international financial center on an area of 9.2 hectares, on 11 plots of land ( signalled from 1-1 to 1-11) in functional area No. 1, Thu Thiem New Urban Area, Thu Thiem Ward, Thu Duc City.
Currently, this area is still vacant land, with planned technical infrastructure such as transportation, electricity, water, telecommunications, lighting, etc., but there are no construction works or residents.
The Department of Science and Technology of Ho Chi Minh City will coordinate with telecommunications enterprises and related units to ensure telecommunications infrastructure and digital infrastructure in the area where the Financial Center is built.
The plan includes 100% coverage of 5G mobile network, installation of fixed broadband fiber optic cables on all routes, ensuring access speed to meet requirements, serving information connection and developing regional and international financial centers.
According to Conclusion 47 of the Politburo, Ho Chi Minh City is oriented to become a comprehensive international financial center, while Da Nang will be a regional financial center. The common goal is to enhance Vietnam's position on the world financial map.
The Government has specified this orientation in Resolution No. 259, approving the action plan to implement financial centers. In addition, the Prime Minister has also issued a decision to establish an interdisciplinary Steering Committee to promote the project's progress.
Recently, on March 5, the Government continued to issue Resolution No. 42 on the proposal to build a National Assembly Resolution on Financial Centers in Vietnam. The Ministry of Finance, ministries, branches and the People's Committees of Ho Chi Minh City and Da Nang City are assigned the task of developing and finalizing the draft Resolution to submit to the National Assembly for approval.
According to Resolution No. 259 of the Government, the Financial Center in Vietnam will focus on 5 key areas.
One is to develop a modern financial infrastructure, promote the construction of a leading payment, deposit and transaction financial system. Two is to attract international talent, create attractive treatment mechanisms, living and working environments to attract the world's leading financial experts.
The next focus is to promote financial innovation, develop new financial instruments such as green finance, financial technology (fintech), and financial risk management.
Next is expanding international integration, cooperating with global financial institutions, and participating in international financial standards.
Finally, it is necessary to protect financial security, strengthen supervision and risk management, and ensure the stability of the financial system.
