A source from Da Nang City said on November 20 that the Politburo has just agreed to the policy of establishing a comprehensive international financial center in Ho Chi Minh City and a regional financial center in Da Nang City. The policy of the Politburo is to select and develop financial centers with geographical boundaries and regulated objects determined according to clear criteria; following a "combined" model with specific, superior policies according to the roadmap; the financial center is applied with a specific management mechanism, superior to current regulations, competitive but must be accompanied by appropriate monitoring and risk management mechanisms; learn from experience while doing; not being hasty but also not being perfectionist to lose opportunities; resolutely abandoning the mindset of "if you can't manage, then ban".
The Politburo has approved the establishment of agencies to manage the Financial Center, including: Management and operation agencies; supervisory agencies; and dispute resolution agencies. The establishment of these agencies will be implemented in accordance with international regulations and practices.
Regarding the application of policies to build a financial center and the implementation roadmap, the Politburo agreed on the policy that from now until 2030, it will focus on issuing and immediately implementing 8 groups of policies that are consistent with international practices, suitable for Vietnam's conditions and need to be applied immediately. At the same time, pilot 6 groups of policies that are common in major financial centers around the world but need to have an application roadmap to suit the actual conditions in Vietnam.
From 2030 to 2035, the organization will fully implement the common policy groups in major financial centers around the world in accordance with the actual conditions in Vietnam. This framework roadmap is relative in nature, and it is necessary to accelerate the implementation progress as quickly as possible. If the opportunity is favorable and the conditions are ripe, the next steps can be taken immediately, without waiting in order.
The Politburo assigned the Government Party Committee to consider and decide on the establishment of the Steering Committee for the Financial Center for implementation; to study and evaluate the impact of breakthrough and competitive policies to create a model for the development of the Financial Center; to coordinate with the Party Delegation of the National Assembly to issue legal documents on the Financial Center stipulating the contents of principles and policy frameworks and assign the Government to provide detailed instructions and handle specific issues.
The Government Party Committee, the Standing Committee of the Ho Chi Minh City Party Committee and the Standing Committee of the Da Nang City Party Committee shall lead and direct the research and issuance of specific documents, and invest appropriate resources to implement the contents of the Project; ensure close coordination and clear and distinct assignment of responsibilities between the Central and local levels, on the basis of decentralization, and promote the proactive and creative role of Ho Chi Minh City and Da Nang City in implementing this Project.
The Politburo requires agencies to determine high political determination in organizing the implementation of this important Project. This is not only the task of Ho Chi Minh City and Da Nang but also the responsibility of the entire political system to participate in the implementation. The contents of the Project need to be implemented drastically, synchronously, consistently, in the spirit of strong innovation to make a breakthrough; agencies from the central to local levels must coordinate synchronously, closely, and implement the progress and roadmap of the proposed tasks on schedule.
