International financial center to bring strategic, comprehensive benefits for Viet Nam: Prime Minister

Pham made the above statement while addressing the conference on the implementation of the National Assembly's Resolution on the IFC in Viet Nam that took place in Ho Chi Minh City on August 2.

On August 1, Decision No. 1646/QĐ-TTg on the establishment of a Steering Committee for the IFC in Viet Nam was signed, with the Prime Minister serving as the head of the Committee.

The Committee was tasked to assist the Government in directing strategy, setting orientations, and coordinating efforts to ensure the smooth and consistent implementation, operation, and development of the IFC, in accordance with Resolution No. 222/2025/QH15 of the National Assembly.

The same day, a Decision on the action plan for the development of the IFC was issued, which aims to build and put into operation the IFC in Ho Chi Minh City and Da Nang City by the end of 2025.

Accordingly, Ho Chi Minh City will accelerate the preparation of facilities and infrastructure to build and develop the IFC in the areas of Saigon Ward, Ben Thanh Ward, and Thu Thiem, with a total area of approximately 793 hectares. Meanwhile, Da Nang City will review, finalize, and prepare the necessary infrastructure to support the establishment of the IFC.

At the conference, Pham reiterated that the successful operation of the IFC will help expand connectivity between Viet Nam and the global financial market, thereby attracting financial institutions and international investment capital.

It will also develop a modern financial and banking service ecosystem that meets international standards while achieving a significant qualitative leap in the development of Viet Nam's financial market, ensuring it operates transparently, fairly, efficiently, and in alignment with international standards, told the leader.

The IFC is expected to enhance Viet Nam's role, reputation, and influence on the international stage, enabling the country to participate more deeply in global value chains, supply chains, and production chains, underlined Pham.

It helps strengthen an independent, resilient, and sustainable economy, contributing to the protection of national financial security and maintain political stability, social order, and safety, ensuring a stable environment for development that brings greater prosperity and happiness to the people, he added.

According to the Prime Minister, the development of the IFC represents a breakthrough in institutions, policies, and resource mobilization.

Viet Nam is not developing the IFC merely to attract investors, but to proactively lead new financial models and create space for emerging industries such as digital assets, green economy, circular economy, carbon credits and digital banking, highlighted the leader.

Pham underscored the need to guarantee a harmonious and balanced approach between financial liberalization and sustainable financial security.

He affirmed the commitment that by 2035, Viet Nam's IFC will rank among the top 75 global financial centers and the top 25 financial centers in the Asia-Pacific./.