Prime Minister Directs: Vietnam’s International Financial Center to Operate in November 2025 in Ho Chi Minh City and Da Nang

On the morning of November 1, 2025, Prime Minister Pham Minh Chinh chaired an urgent conference on establishing Vietnam’s International Financial Center (IFC), requiring the finalization of the Decree within days so the center can officially operate in November. Under the “one center – two hubs” model, the IFC will have two management agencies in Ho Chi Minh City and Da Nang, but only one shared supervisory body and one specialized court for dispute resolution.

International Conference and Legal Foundation

On the morning of November 1, 2025, at the Government Headquarters, Prime Minister Pham Minh Chinh presided over the Conference on Establishing Vietnam’s International Financial Center, with online connections to hubs in the UK, Czech Republic, Hong Kong (China), and Indonesia. Attendees included Permanent Deputy Prime Minister Nguyen Hoa Binh, Deputy Prime Minister Ho Duc Phoc, leaders of ministries and sectors, Ho Chi Minh City, Da Nang, and numerous domestic and international financial institutions, banks, investment funds, law firms, and audit companies.

Earlier, on June 27, 2025, the National Assembly issued Resolution 222, officially approving the establishment of the center — the highest legal foundation for Vietnam to realize its ambition of joining the world’s top 32 economies.

The “One Center – Two Hubs” Model

According to the Ministry of Finance’s report, the International Financial Center will operate under a unified center framework with two regional hubs. Ho Chi Minh City, spanning approximately 899 hectares, will focus on large-scale financial markets including stocks, bonds, commercial banking, fund management, and listing services. Da Nang, covering about 300 hectares, will specialize in finance related to logistics, maritime, free trade, and agro-industrial supply chains. Both zones will be linked via digital systems and AI, ensuring instant, transparent, and globally competitive transactions.

Organizational Structure and Foundational Decree

Two Management Agencies – One Supervisor – One Court

The Prime Minister affirmed the establishment of two management agencies in Ho Chi Minh City and Da Nang, but only one shared supervisory body and one specialized court for rapid dispute resolution. This structure optimizes resources, avoids overlap, and builds solid legal confidence for foreign investors.

Minister of Finance Nguyen Van Thang emphasized that the Decree establishing the IFC is the “pivotal document,” defining the organizational structure, functions, powers of agencies within the center, and special mechanisms aligned with international practices. The Ministry is currently evaluating four organizational options, each carefully assessed to balance national sovereignty with global appeal to financial institutions.

Decisive Roadmap and Breakthrough Policies

In his concluding remarks, the Prime Minister stressed the spirit: “What seems near won’t arrive without effort; what seems far will come with determination.” He called for avoiding perfectionism or haste while seizing every opportunity, completing tasks decisively, and ensuring “promises made are promises kept, and results must be measurable.”

National Steering Committee and November Target

The Prime Minister established a National Steering Committee under his leadership. Ministries are tasked with drafting eight related decrees, with the core Decree to be approved by the Government within days — targeting official IFC operations in November 2025.

Attracting Talent and Streamlining Procedures

The Government will apply superior incentives in taxation, visas, residency, education, and healthcare, while Ho Chi Minh City and Da Nang develop modern living ecosystems with excellent transport, culture, sports, and environment. Administrative procedures will follow the “one-stop, one-seal, one-person” principle, prioritizing post-audit and minimizing pre-audit controls. Technology transfer is mandatory, with human capital at the core, blending Vietnamese traditions with global best practices.

Vision and Inspirational Conclusion

Leaders of Ho Chi Minh City and Da Nang committed to promptly issuing special policies within their authority, preparing infrastructure, human resources, and local legal frameworks. The synergy between the two cities and national strength will create momentum for this strategic project.

The International Financial Center is not just a financial hub but a catalyst linking finance, trade, investment, and production, positioning Vietnam as a regional financial center, attracting high-quality FDI, and elevating its global economic standing.

The Prime Minister concluded: “Nothing is easy, but nothing is impossible. We must turn the impossible into possible — through science, technology, innovation, and the power of the people and enterprises.”

With decisive leadership from Prime Minister Pham Minh Chinh, Vietnam’s International Financial Center enters its final sprint. In November 2025, a new symbol of Vietnamese finance will launch, ushering in an era of global competitiveness, sustainable development, and prosperity through vision.

(Source: Electronic Portal of the Government of Vietnam – November 1, 2025)