On the afternoon of April 17, the National Assembly Standing Committee gave its opinion on the draft Resolution of the National Assembly on the International Financial Center in Vietnam.
Presenting the report, Minister of Finance Nguyen Van Thang said that from the domestic and international political, legal and practical bases, it is extremely necessary to develop a National Assembly Resolution on the International Financial Center in Vietnam.
The development of the National Assembly's Resolution on the International Financial Center with specific and outstanding mechanisms and policies aims to perfect the legal framework for building and developing the International Financial Center. Thereby raising Vietnam's position in the global financial network.
At the same time, promote sustainable finance, encourage the development of green financial products, and contribute to sustainable socio-economic development.
Create conditions to link domestic and international exchanges, promote capital flows and financial technology into Vietnam.
Attract and develop high-quality human resources, domestic and foreign experts in the fields of finance and support services to work at the International Financial Center.
Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai said that the Standing Committee of the Economic and Financial Committee proposed to make a more specific assessment of both the positive aspects and the challenges, the level of risks, and the ability to manage risks.
At the same time, it will clarify the impact of having an International Financial Center; appropriate international experiences to apply to Vietnamese reality.
The Standing Committee of the Economic and Financial Committee found that operating an international financial center in Vietnam is a new issue in Vietnam. Therefore, the Resolution should only stipulate general issues, which are principle-based and clear and highly stable.
The Government and the Prime Minister, according to their authority, issue specific instructions to ensure flexibility and timeliness.
Decentralize to the two cities the contents associated with local functions, tasks, and powers, ensuring the right to initiative, flexibility, and creativity according to the law.
Regarding the authority to establish and establish an international financial center located in Da Nang and Ho Chi Minh City, the draft Resolution does not clearly stipulate the competent authority to decide on the establishment of an international financial center.
Regarding the establishment of an international financial center located in 2 cities, the Standing Committee of the Committee requested the drafting agency to report more clearly on the basis and basis to propose a new model different from Conclusion 47 of the Politburo.
Speaking at the meeting, Politburo member and Permanent Deputy Prime Minister Nguyen Hoa Binh said that we accept the choice to be an international financial center as part of the world economy.
According to the Permanent Deputy Prime Minister, Conclusion 47 of the Politburo allowed the establishment of 2 centers, but the Government submitted 1 center and located 2 locations, Da Nang and Ho Chi Minh City.
The reason why the Government and the decision to have only one center and place two places, according to Deputy Prime Minister Nguyen Hoa Binh, is that these two places have different orientations for activities and will not conflict with each other. For example, Da Nang is more oriented towards high technology, semiconductors, AI, becoming a free trade center for high technology.
In particular, both of these places are subject to the regulation of one law (ie the Resolution of the National Assembly on International Financial Centers). only by being subject to such adjustments can we survive, the Permanent Deputy Prime Minister emphasized.
The Government will have to report to the Politburo on this content, the Permanent Deputy Prime Minister stated.
