The Declaration of Independence at Ba Dinh Square, Ha Noi, on September 2, 1945, affirmed Viet Nam’s national sovereignty. Eighty years later, Viet Nam once again asserts its institutional financial sovereignty through the Viet Nam International Financial Centre model, with two engines located in Ho Chi Minh City and Da Nang.

The State Bank of Viet Nam (SBV) has proposed that all electronic money transfers of 1,000 USD or more at the shaping International Financial Centre (IFC) must be reported.

Prime Minister Pham Minh Chinh on August 7 hosted a reception for Hironori Kamezawa, CEO of Japan’s Mitsubishi UFJ Financial Group (MUFG), during which he invited the Japanese financial giant to participate in the development of an international financial centre in Viet Nam.

Viet Nam hopes Swiss authorities and experts will share their experience and offer practical recommendations for Vietnam in building, managing, and operating international financial centres, said National Assembly (NA) Chairman Tran Thanh Man.

Viet Nam will have special and superior mechanisms and policies to encourage the attraction of capital, technologies, modern management methods, high-quality human resources, and infrastructure development to its first International Financial Centre.

Deputy Prime Minister Nguyen Hoa Binh held a working session with Da Nang authorities on June 21 to discuss plans for developing an international financial centre (IFC) in the city.

During the 9th sitting of the 15th National Assembly, lawmakers discussed a draft resolution on establishing an international financial centre (IFC) in Viet Nam, with some proposing careful consideration of a dual-city model based on regional development strategies and investment efficiency.

The new international financial centre will help turn Viet Nam into an important financial gateway which is capable of welcoming international capital flows and taking advantage of opportunities from the trend of shifting global supply chains, Permanent Deputy Prime Minister Nguyen Hoa Binh told the National Assembly on June 11.

The second phase of the ninth session of the 15th National Assembly (NA) started on June 11 with many important issues high on the agenda, including the reorganisation of provincial-level administrative units.