On the afternoon of June 2nd, in Hanoi, Politburo Member, Prime Minister Le Minh Hung chaired a meeting on the continued deployment of the operation of the International Financial Center (IPC) in Vietnam.
Concluding the meeting, the Prime Minister affirmed that the Party's policy on TTTC development is very clear and in implementing the Party's policy in the past time, we have come a long way, completed a large, difficult, and complex workload and the meeting aims to continue to implement the work to ensure speed, quality, and efficiency.
Conclusion No. 18 of the Central Government emphasized the urgent requirement to put the TTTC into operation; the overarching goal is to establish a Center with a transparent and clear legal corridor to attract international investors.
This is one of the important solutions to mobilize medium and long-term capital flows for rapid and sustainable development.
According to the Prime Minister, there are still many challenges in TTTC development, in the complex international context, TTTCs in the region and in the world are fiercely competing to attract capital flows; Vietnam is lagging behind, so it must have strong enough mechanisms and policies to attract investors but still manage, control risks, maintain macroeconomic stability, and ensure sustainable growth.
Regarding tasks and solutions for the coming time, the Prime Minister assigned Deputy Prime Minister Nguyen Van Thang to be Chairman of the Executive Council of TTTC and directly direct TTTC, if problems arise beyond their authority, report to the Prime Minister.
The Prime Minister requested agencies to submit additional functions and consolidate the Executive Council this week and after consolidation, the Chairman of the Council directs ministries and agencies to review, appraise, and complete the Operating Regulations of the TTTC, the Executive Council and the operating agency, to be completed before June 10.
Deputy Prime Minister Nguyen Van Thang directed the Executive Council to urgently coordinate with the two cities to study a standard model for the operating agency, proposing to choose the most feasible, appropriate, and optimal option, for the common work.
Emphasizing that financial products and services are a decisive factor in the effective operation of the TTTC, while Ho Chi Minh City and Da Nang are also 2 growth drivers of the country, the Prime Minister directed the Ministry of Finance to preside over and coordinate with ministries, agencies and the two cities to propose and identify a list of financial products and services of the TTTC, first of all products and services associated with trade and investment to attract development resources for the two cities, serving key infrastructure projects in the area.
According to the Prime Minister, the development of these products has been policy-based, in addition to the 8 existing decrees, it is necessary to continue to study new regulations in June to create a breakthrough mechanism to quickly have some new key financial products and services for TTTC.
The Prime Minister also proposed to study the inspection and supervision mechanism directly under central agencies, implementing inspection and supervision according to the assigned management fields.
Emphasizing that when TTTC has been formed quite clearly, there must be a more specific strategy, the Prime Minister directed agencies to study and propose to competent authorities to amend and supplement relevant regulations to further promote the operation of TTTC.
