"The push" creates the foundation to bring the country into a new era
Speaking at the "Conference to announce the Government's Resolution promulgating the Action Plan to implement the Politburo's Conclusion on building a regional and international financial center in Vietnam" held on the morning of January 4, Minister of Planning and Investment Nguyen Chi Dung emphasized that in recent times, the regional and world situation has had many fluctuations, complex and unpredictable developments.
In particular, the global financial system is gradually reshaping; the world is in need of developing new Financial Centers, providing specialized financial products and services, serving niche markets, different from traditional Financial Centers.
Through that, receiving financial resources to move, at the same time complementing and creating synergistic benefits, contributing to the common development of the global financial market.
"Therefore, emerging financial centers like Vietnam have a golden opportunity to participate in this "game", through establishing an open legal corridor, issuing outstanding preferential policies, in accordance with international practices to become a "playground" for leading financial investors.
In particular, Ho Chi Minh City and Da Nang have converged many fundamental factors to develop a regional and international financial center, which is considered one of the emerging financial centers, on the path of strong growth. This determination not only reflects Vietnam's aspiration, but also meets the requirements of deep integration with the global economy" - Minister Nguyen Chi Dung emphasized.
Great opportunities come with many challenges
According to Minister Nguyen Chi Dung, the construction of a regional and international financial center has been identified by the Party, State, National Assembly and Government as one of the institutional breakthroughs, a policy decision to liberate resources, promote the transformation of the growth model associated with economic restructuring, to improve productivity, efficiency and competitiveness; bringing the country into a new era, the era of the Vietnamese people's rise.
"This is not a new problem in the world, but for Vietnam it is a difficult and unprecedented problem. Therefore, great opportunities will come with great challenges" - Minister Nguyen Chi Dung emphasized.
However, the successful construction of a regional and international financial center will play an important role in helping Vietnam achieve 5 opportunities:
First, connect to global financial markets.
Second, attract foreign financial institutions, create new investment resources, and promote existing investment resources.
Third, provide high-quality financial services to meet the needs of domestic and foreign businesses.
Fourth, create a new qualitative shift, helping the financial market in Vietnam become healthy and effective, catch up with international standards, and promote the process of economic restructuring.
Fifth, contributing to Vietnam's deeper participation in the global economic value chain, enhancing Vietnam's role, prestige and influence in the international arena; affirming its position as a strong and sustainable economy; thereby ensuring national defense and security, especially in the financial sector from an early and distant perspective.
