VNBA has recently issued an official letter to the General Directors of its member institutions, requesting comments on the Draft Decree on policies governing import–export of goods, distribution of goods and services, commodity trading platforms, and the operation of commodity exchanges within the International Financial Center (IFC) in Viet Nam.
According to Official Letter No. 5832/BCT-TTTN dated August 6, 2025 of the Ministry of Industry and Trade (MOIT):
“The formulation and promulgation of this Decree is highly necessary in the context of Viet Nam advancing the establishment of an IFC, with a view to deeper integration into the global financial–trade network, while at the same time concretizing Resolution No. 222/2025/QH15 of the National Assembly on piloting special mechanisms and policies for IFC development in Viet Nam.”
Importance of the Draft Decree
The MOIT highlights that:
“This Decree will contribute to implementing the orientations set forth in the Documents of the 13th National Party Congress, especially those on international integration, digital economy development, enhancing national competitiveness, and building a modern institutional framework. It will also establish a dedicated and stable legal corridor for IFC operations, issuing specialized regulations to govern commodity trading, service trade, international transactions, and the functioning of commodity exchanges within IFCs.”
The Decree also addresses legal gaps:
“Currently, there is no specific mechanism for IFCs. This Decree ensures a transparent, streamlined investment environment aligned with international practices, creating a favorable ecosystem to attract financial institutions, logistics enterprises, e-commerce platforms, and international organizations to IFC Viet Nam.”
Key Provisions of the Draft
The Draft Decree consists of 06 chapters with 27 articles, structured coherently to promote trade and investment within IFCs.
Chapter I – General Provisions
Defines scope, subjects, terminology, and policy principles.
Chapter II – Trading Platforms and Exchanges
“Regulations on specialized trading platforms such as commodities, carbon, precious metals, green finance, and art products; conditions for establishment; licensing mechanisms; rights and obligations of stakeholders; and supervisory responsibilities.”
Chapter III – Operations of Commodity Exchanges
“Allows the establishment of independent commodity exchanges within IFCs, operating under IOSCO standards, listing of new products (carbon, green finance, digital assets); use of foreign currency and English contracts; and linkage with depositories, clearing centers, and international exchanges.”
Chapter IV – Import–Export Policies
- Special customs regime with 8-hour clearance.
- Application of AI, blockchain, e-declarations.
- Exemption from regular specialized inspections.
Chapter V – Distribution of Goods and Services
- Removes barriers such as ENT requirements and foreign equity caps.
- Simplifies franchising notification procedures.
- Encourages logistics, fintech, digital supply chains.
Chapter VI – Implementation
- MOIT as lead agency.
- Local deployment by HCMC and Da Nang People’s Committees.
- Application of digital technologies and one-stop e-government services.
Call for Feedback from Member Banks
The full Draft Decree and explanatory submission are available for review.
Deadline for submission: August 12, 2025
Send feedback (including editable Word files) to: thaoquyen020403@gmail.com
Contact: Ms. Thảo Quyên – Tel: 0961.020.403
VNBA respectfully requests all member banks to study the Draft and provide comments, contributing to the development of Vietnam’s International Financial Center.
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