Prime Minister Phạm Minh Chính on Thursday signed a decision to establish a steering council to oversee the development of Việt Nam’s planned international financial centre.
Permanent Deputy Prime Minister Nguyễn Hòa Bình will chair the council. Its vice chairs include Finance Minister Nguyễn Văn Thắng, State Bank Governor Nguyễn Thị Hồng, HCM City Chairman Nguyễn Văn Được and Đà Nẵng Chairman Phạm Đức Ấn.
A view of HCM City
The council also includes deputy ministers from the ministries of Justice, Home Affairs, Industry and Trade and Agriculture and Environment.
Under the decision, the council is tasked with setting development strategies, roadmaps and plans for the international financial centre, based on the current conditions and potential of HCM City and Đà Nẵng.
It will issue operating regulations, coordinate between the two cities and advise on appointments of the centres’ executive heads.
An advisory council comprising domestic and international financial and legal experts will also be formed to support policy design and development.
The steering council will regularly monitor implementation and report to the Government and the Prime Minister on major issues beyond its authority.
The steering council’s establishment follows the National Assembly’s approval of pilot mechanisms and special policies to develop international financial centres in Việt Nam, with HCM City positioned as a global hub and Đà Nẵng as a regional one.
Earlier this month, the National Assembly passed the Law on Specialised Courts at the International Financial Centre.
The law will take effect from January 1, 2026, and applies to specialised courts, financial centre members, investors and relevant organisations and individuals involved in dispute settlement within the centre.