Prime Minister Pham Minh Chinh Appointed as Chairman of the Steering Committee
On September 15, 2024, Vietnamese Prime Minister Pham Minh Chinh issued Decision No. 987/QĐ-TTg, establishing the Steering Committee for the Proposal on Developing International and Regional Financial Centers (hereafter referred to as the “Steering Committee”). According to this decision, Prime Minister Pham Minh Chinh will serve as the Chairman of the Steering Committee, while Minister of Planning and Investment Nguyen Chi Dung will act as the Vice Chairman. The main task of the committee is to provide guidance and decision-making support for the formulation of proposals aimed at establishing international and regional financial centers in Vietnam.
Key Members of the Steering Committee
The Steering Committee consists of several high-ranking officials from various government departments. These include Vice Minister of Planning and Investment Nguyen Thi Bich Ngoc (Standing Member), Vice Minister of Finance Nguyen Duc Chi, Vice Minister of Industry and Trade Phan Thi Thang, Vice Minister of National Defense Vo Hai San, Vice Minister of Public Security Pham The Song, Vice Minister of Information and Communications Pham Duc Long, and others. Additionally, Ho Chi Minh City People’s Committee Chairman Phan Van Mai and Da Nang City People’s Committee Standing Vice Chairman Ho Ky Minh are also involved in the committee’s work.
Responsibilities of the Steering Committee
As outlined in Decision No. 1160/QĐ-TTg, issued on October 6, 2023, the Steering Committee is tasked with providing consultation and guidance for the development of international and regional financial centers. The committee is responsible for researching and formulating policy directions and measures for the proposal. It will make recommendations to the Prime Minister on planning strategies and will coordinate efforts among various ministries, government agencies, and local authorities to ensure a unified approach in drafting the proposal.
In addition, the Steering Committee will oversee the progress of the proposal’s development to ensure that all relevant departments and localities collaborate according to the established plans. The committee will also facilitate cooperation and consultation with domestic and international organizations and institutions, promoting discussions on building financial centers in Vietnam.
Future Tasks
The Steering Committee not only serves as a coordination mechanism but also plays a vital role in defining policy directions and overseeing the implementation process. Through multi-departmental collaboration, the Vietnamese government aims to lay a solid foundation for the establishment of international and regional financial centers. Under the leadership of the Prime Minister, the committee will continue to advance Vietnam’s ambition to become a major international financial hub.
