A view of HCM City. Việt Nam has established a steering committee for the development of regional and international financial centres. — VNA/VNS Photo Hồng Đạt

HÀ NỘI — Việt Nam has established a steering committee for the development of a regional and international financial centre as part of an effort to raise the country’s position in the global financial landscape.

According to Decision 981/QĐ-TTg released on Wednesday, Prime Minister Phạm Minh Chính will chair the committee, which will provide strategies to develop regional and international financial centres, with a particular focus on regulatory frameworks and policies to ensure their smooth operations.

The committee will also direct the formulation and operation of the centres' management structure.

Aside from these tasks, the committee will also direct the arrangement of resources for infrastructure development and organise cooperative and consulting activities with relevant domestic and international agencies.

The deputy heads of the committee include Permanent Deputy PM Nguyễn Hoà Bình, who is also Standing Deputy Head of the committee, Secretary of the HCM City Party Committee Nguyễn Văn Nên, Minister of Finance Nguyễn Văn Thắng, Governor of the State Bank of Vietnam Nguyễn Thị Hồng and Secretary of the Đà Nẵng Party Committee Nguyễn Văn Quang.

The 14 committee members include deputy ministers from other ministries and agencies.

At a recent meeting, Deputy Prime Minister Nguyễn Hoà Bình said that Việt Nam aimed to adopt a 'one centre–two locations' model in HCM City and Đà Nẵng.

HCM City is expected to focus on traditional financial services such as banking, securities and investment, while Đà Nẵng will leverage its advantages in geographic position, infrastructure and regional connectivity. The two cities will supplement each other.

“It’s a strategic solution to strengthen Việt Nam’s position in the global financial chain," the Deputy PM said.

The Government has pledged to create a transparent and adaptive legal framework with competitive incentives in tax, infrastructure, labour and immigration policies with references to international practices tailored to Việt Nam's economy. — VNS