Gov't discusses reports on financial center development projects

Dignitaries to the meeting include Politburo member, Standing Deputy Prime Minister Nguyen Hoa Binh; Politburo member, Secretary of the Ho Chi Minh City Municipal Party Committee Nguyen Van Nen; Deputy Prime Minster Tran Hong Ha, leaders of several ministries, Ho Chi Minh City and Da Nang.

Addressing the event, Prime Minister Pham emphasized that the development of financial centers aims to formulate financial market and services in order to mobilize financial resources for the development of the two cities in particular and the country in general.

He called for clarifying the scope and operation model of the financial centers as well as legal framework, including tax and visa policies for the smooth operation of the centers.

The Government chief urged relevant ministries, agencies and localities to uphold the sense of responsibility and promptly finalize the projects to submit to the Politburo and the National Assembly for consideration and approval.

While financial centers are a model developed in many countries, it is a new and complex issue for Viet Nam, thus choosing the model and method of constructing the financial center needs to be based on selectively learning from international experiences, Viet Nam News quoted Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc as saying.

By establishing an international financial center, Viet Nam aims to create a distinct institutional area to attract international financial investors, she said./.