The construction of regional and international financial centers in Ho Chi Minh City and Da Nang is not only an important step in the economic development strategy, but also symbolizes Vietnam's vision and commitment to connecting with the international financial market.
This is truly a great opportunity for Vietnam with strategic benefits in enhancing its international position and bringing in large investment capital when connecting to the global financial market.
Attracting international financial institutions will help Vietnam have more investment resources and improve the quality of financial services. Accompanying the trend of financial technology and environmental protection by promoting innovation and developing green finance, fintech (financial technology)...
Vietnam currently has many advantages as it is considered one of the most remarkable emerging financial centers thanks to its characteristics such as stable economic growth, increasingly modern infrastructure and improved investment environment. However, our ambition is also facing many challenges.
At the conference announcing the Government's resolution on issuing an action plan to implement the Politburo's conclusion on building a regional and international financial center in Vietnam on January 4, Prime Minister Pham Minh Chinh also admitted that building a financial center is difficult, new and complicated.
However, Prime Minister Pham Minh Chinh showed great determination when he said, "No matter how difficult it is, we must do it"!
To build a leading "playground" for financial investors, it is not only necessary to be determined but also to quickly come up with solutions to overcome difficulties and challenges in the coming time.
First is the requirement to continuously innovate and improve capacity to be able to compete with long-standing international financial centers in the region such as Singapore, Hong Kong (China) or Shanghai.
In addition, the development of capital markets and banking systems requires investment in legal infrastructure, especially mechanisms for monitoring and protecting investor assets.
Next, human infrastructure - high-quality human resources in the fintech industry, risk management and development of green financial tools... are still Vietnam's biggest bottlenecks.
Currently, universities and training institutions are not meeting the demand for in-depth expertise in this field, especially high-tech skills such as blockchain, artificial intelligence (AI), big data and cybersecurity.
Finally, the construction of the Financial Center not only brings great economic benefits but also affirms Vietnam's position in the region and the world.
To succeed, all resources need to be fully utilized, along with consensus and high determination - as emphasized by Prime Minister Pham Minh Chinh: This is not just the work of Ho Chi Minh City or Da Nang, but a common work, requiring the consensus of all ministries, central branches and the whole country!
