On the afternoon of June 12, the National Assembly discussed in the hall the draft Resolution of the National Assembly on the International Financial Center in Vietnam.
Speaking, delegate Ta Van Ha (Quang Nam delegation) was concerned that the resolution did not clearly state the model of financial centers that Vietnam needs to apply. However, going behind is also an advantage to learn from previous models.
According to the delegate, it is necessary to establish a financial center administrative unit, not just a few buildings that agencies and companies invest in. However, to have a real financial center, we still have many limitations, we must look directly at reality.
The delegate pointed out that the financial market is still young, the legal basis is not yet complete, the international financial system is still modest, not many large international banks have headquarters.
Another problem is human resources, there are not many good experts. In particular, the technology infrastructure is said to be short-lived but still has many limitations.
The delegate cited that the personal income tax declaration was very small, but he had to return to his hometown in Bac Giang because he could not do it online every week.
"Someone told me to hire a few million VND to work as a household, but if I had an income of 20 million, why would I do it? Regarding Bac Giang, it said that the congestion system could not be done. The second time, the officer said he was still confused, and when he got home, he said the file was returned because the statement was incorrect," the delegate said.
From there, the delegate stated that the financial center needs to pay attention to building a living environment, including healthcare, security, education, cultural space, etc., to attract investors to live and work long-term.
The delegate also proposed piloting the construction of a model in Ho Chi Minh City, focusing resources on doing it, having both a foundation and resources and building a truly capable center.
Delegate Hoang Van Cuong (Hanoi Delegation) said that in the world, there are many international financial centers that have been developed for a long time, but can be summarized into 3 typical models: Traditional model, reform model, specialized model
According to the delegate, with very special institutions, newly formed international financial centers such as Dubai or Astana have a strong attraction for international investors. People call the international financial center "The World in Dubai".
With the above experience, Vietnam now needs to be truly superior, especially to attract investors around the world.
According to the delegate, commodity trading relationships are the foundation for financial relationships to appear. The Commodity Exchange is always considered the first pillar to form a financial center.
Therefore, the delegate said that it is necessary to review and add a commodity trading department as a member of the international financial center; physical trading relationships and derivatives transactions must include both financial trading relationships and commodity trading.
Commodity exchanges in which will comply with the regulations of international financial centers, not according to the regulations of relevant laws.
