Vietnam pushes forward with plans for IFCs in Da Nang kèo nhà cái bet88 Ho Chi Minh City

Permanent Deputy Prime Minister Nguyen Hoa Binh chaired a hybrid conference in Hanoi on May 20 to discuss a draftresolutionof the National Assembly on establishment of an international financial center (IFC) in Vietnam.

The event marked a key step in shaping mechanisms kèo nhà cái bet88 policies to support the country's ambition of becoming a regional financial hub.

Speaking at the conference, Mr. Nguyen Van Quang, Secretary of the Party Committee of central Da Nang city, acknowledged that while the concept of an IFC is not new globally, it remains both novel kèo nhà cái bet88 challenging for Vietnam. He emphasized the need to strike a balance between aligning with international norms kèo nhà cái bet88 ensuring compatibility with domestic laws.

Representing one of the key localities in the initiative, Mr. Quang expressed appreciation for the insights shared by both domestic kèo nhà cái bet88 international delegates. He noted a broad consensus on the strategic need for Vietnam to develop an IFC. The proposed model may take the form of either two independent centers or a single center operating across two sites—Da Nang kèo nhà cái bet88 Ho Chi Minh City.

According to Mr. Quang, either approach—separate or dual-location operation—would enhance Vietnam’s ability to diversify investment environments, attract global financial institutions, mitigate risks, kèo nhà cái bet88 strengthen regulatory oversight. He added that Da Nang has already begun preparing both hard kèo nhà cái bet88 soft infrastructure, as well as relevant ecosystems, to support the center's future operations.

Echoing this readiness, Mr. Nguyen Van Dung, Vice Chairman of the Ho Chi Minh City People’s Committee, confirmed that the city is also reviewing kèo nhà cái bet88 proposing tailored mechanisms kèo nhà cái bet88 policies. At the same time, it is accelerating infrastructure upgrades kèo nhà cái bet88 workforce training in preparation for the center’s eventual launch.

Praising the Vietnamese government kèo nhà cái bet88 relevant agencies for their commitment to developing international financial centers, Mr.Jochen Biedermann, Managing Director of the World Alliance of International Financial Centers (WAIFC),emphasized that beyond physical infrastructure, Vietnam must pay special attention to building robust digital kèo nhà cái bet88 software infrastructure. This, he stressed, is essential to ensure the efficient operation of international financial centers in Ho Chi Minh City kèo nhà cái bet88 Da Nang once they become operational.

Equally critical, he added, is the need for a comprehensive human resource development strategy. Vietnam must proactively train kèo nhà cái bet88 prepare a highly skilled workforce to support the smooth functioning of the centers. He warned against fragmented or piecemeal investment, urging the country to ensure adequate kèo nhà cái bet88 synchronized resource allocation for sustainable development of the financial hubs.

Drawing on international best practices, particularly the modern financial center model in Dubai, Dr. Andreas Baumgartner, CEO kèo nhà cái bet88 Co-founder of The Metis Institute, recommended that Vietnam consider establishing a single international financial center that operates across two locations: Da Nang kèo nhà cái bet88 Ho Chi Minh City. Such a model, he noted, would allow for unified management while leveraging the distinct advantages kèo nhà cái bet88 operational independence of each city.

Leaders kèo nhà cái bet88 representatives from international financial organizations, institutions, businesses, kèo nhà cái bet88 investors at the conference expressed strong support for Vietnam’s vision. They affirmed their commitment to accompany the country throughout the development kèo nhà cái bet88 operational phases of the financial center through concrete partnerships, technical assistance, kèo nhà cái bet88 investment.

Speaking at the event, Permanent Deputy Prime Minister Nguyen Hoa Binh reiterated that the Vietnamese government's strategic direction is to develop a single international financial center operating in both Da Nang kèo nhà cái bet88 Ho Chi Minh City.

He affirmed the government’s commitment to creating a breakthrough legal framework that maximizes Vietnam’s unique advantages while adhering to international laws kèo nhà cái bet88 standards. The framework will promote innovation, ensure tailored kèo nhà cái bet88 attractive policies for investors, kèo nhà cái bet88 strike a balance between the interests of the state, investors, kèo nhà cái bet88 the public. It will also be designed in alignment with Vietnam’s current governance kèo nhà cái bet88 administrative capabilities.

In terms of regulatory development, Permanent Deputy PM Nguyen Hoa Binh stressed that Vietnam will thoroughly study international laws, practices, kèo nhà cái bet88 standards. However, this will not be a simple or mechanical replication. Instead, the country will adopt a carefully selected kèo nhà cái bet88 customized approach, adapted to Vietnam’s specific conditions kèo nhà cái bet88 context. This perspective was strongly endorsed by many delegates kèo nhà cái bet88 experts at the conference kèo nhà cái bet88 in earlier forums.

On the legal infrastructure, the government will first focus on finalizing a draft National Assembly Resolution for parliamentary review kèo nhà cái bet88 approval. Based on this foundation, a series of government decrees will be issued, offering a comprehensive set of incentives kèo nhà cái bet88 support policies, including tax breaks, infrastructure support, immigration kèo nhà cái bet88 residency facilitation, kèo nhà cái bet88 labor regulations, to attract kèo nhà cái bet88 retain investors participating in Vietnam’s international financial centers.