Steering committee set up to formulate international financial center

The Ministry of Planning and Investment has worked with Ho Chi Minh City to develop an international financial center in the Southern metropolis.

A draft plan published by Ho Chi Minh City authorities last February aims to establish the international financial center by 2030. The plan contains three main components: a monetary and banking market, a capital market, and a derivatives market.

To implement the plan, the city will map out four specific action programs, including: the development of fintech, digital banking and digital financial transactions, expansion of the center's regional integration, development of the Thu Thiem Financial - Commercial Zone, and the development of a commodities market.

Construction of such center would be a large and difficult project, said Minister of Planning and Investment Nguyen Chi Dung who has been appointed Vice Chairman of the Steering Committee./.