On the afternoon of January 16, the People's Committee of Da Nang City organized a workshop on "Developing an International Financial Center in Vietnam" with the participation of Mr. Nguyen Hoa Binh - Member of the Politburo, Permanent Deputy Prime Minister of the Government.
Currently, Vietnam has all 5 necessary factors and conditions to develop a modern financial market, aiming to form an international and regional financial center. Firstly, the total GDP in 2024 is about 470 billion USD, the economic scale is ranked 33-34 in the world, the average GDP per capita is about 4,600 - 4,700 USD. With the economic growth rate in recent years, at the same time the macro economy is stable, inflation is controlled, major balances are ensured, Vietnam aims for GDP growth of at least 8% in 2025, striving to reach double digits in the coming years.
Second, strategic breakthroughs are achieving very positive results in the direction of open institutions, smooth infrastructure, and smart governance. Third, the stock market capitalization reached nearly 7.2 million billion VND, up 21.2% compared to the end of 2023, equivalent to 70.4% of estimated GDP in 2023, the stock market growth rate reached double digits, the highest in the region.
Fourth, Vietnam has an integrated economy with great openness, having signed 17 FTAs with over 65 leading economies in the world; the scale of import and export is about 800 billion USD, about 1.7 times the GDP. Fifth, politics is stable, social order and safety are guaranteed, life is peaceful, there is a peaceful environment, cooperation and development.
Speaking at the workshop, Mr. Le Trung Chinh said: "The workshop "Developing an international financial center in Vietnam" aims to introduce the policy and orientation for developing an international financial center in Vietnam, including the Da Nang City Financial Center. At the same time, we hope to listen to the opinions of state management agencies, strategic investors, organizations, financial institutions, investment funds, consulting companies, training institutions, and domestic and foreign experts and scientists on specific policy mechanisms for the early formation and development of an international financial center in Vietnam."
According to Mr. Chinh, the workshop is of great significance in contributing to raising awareness, creating a foundation and driving force for the breakthrough and long-term development of Da Nang city in the coming time.
