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Steering committee set up to formulate international financial center

VGP - Prime Minister Pham Minh Chinh has decided to set up a steering committee responsible for formulating an international financial center project in Viet Nam.

October 09, 2023 7:37 PM GMT+7
Steering committee for Regional, International Financial Center established - Ảnh 1.

Illustration photo

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./.