Establishment of the Steering Committee for the International Financial Center in Vietnam

(Chinhphu.vn) – Prime Minister Pham Minh Chinh has signed Decision No. 1646/QD-TTg dated August 1, 2025, establishing the Steering Committee for the International Financial Center in Vietnam.

The Steering Committee for the International Financial Center in Vietnam (the “Steering Committee”) is established to assist the Government in providing strategic direction, guidance, and coordination to ensure the consistent and seamless development, operation, and growth of the International Financial Center in Vietnam, in accordance with Resolution No. 222/2025/QH15 dated June 27, 2025, of the National Assembly.

Members of the Steering Committee

The Head of the Steering Committee is Prime Minister Pham Minh Chinh.

The Deputy Heads include:Permanent Deputy Prime Minister Nguyen Hoa Binh (Standing Deputy Head);Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen;Minister of Finance Nguyen Van Thang;Governor of the State Bank of Vietnam Nguyen Thi Hong;Secretary of the Da Nang City Party Committee Nguyen Van Quang.

Members of the Steering Committee include:Deputy Minister of Finance Nguyen Thi Bich Ngoc (Standing Member);Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc;Chairman of the Da Nang City People’s Committee Luong Nguyen Minh Triet;Senior Lieutenant General Vu Hai San, Deputy Minister of National Defense;Senior Lieutenant General Pham The Tung, Deputy Minister of Public Security;Deputy Chief of the Government Office Mai Thi Thu Van;Deputy Chief Justice of the Supreme People’s Court Nguyen Van Tien;Deputy Governor of the State Bank of Vietnam Pham Tien Dung;Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan;Deputy Minister of Science and Technology Pham Duc Long;Deputy Minister of Agriculture and Rural Development Nguyen Hoang Hiep;Deputy Minister of Home Affairs Truong Hai Long;Deputy Minister of Justice Nguyen Thanh Tinh;Deputy Minister of Education and Training Hoang Minh Son.

Functions and Powers of the Steering Committee

The Steering Committee is responsible for providing strategic direction and guidance for the development of the International Financial Center in Vietnam; directing the formulation of institutional frameworks and policies applied within the International Financial Center in Vietnam to ensure coherence and consistency in accordance with Resolution No. 222/2025/QH15 dated June 27, 2025, of the National Assembly; and overseeing the establishment and operation of agencies and organizations under the International Financial Center in Vietnam.

The Steering Committee is also tasked with directing the allocation and mobilization of resources for infrastructure development and the growth of the International Financial Center in Vietnam; leading and coordinating cooperation, consultation, and exchanges with domestic and international agencies and organizations regarding the development of the International Financial Center in Vietnam; and performing other duties related to the International Financial Center in Vietnam as assigned by the Government.

The Steering Committee operates on a concurrent-duty basis, emphasizing the responsibility of the Head of the Committee and each member in proposing orientations and solutions for the development of the International Financial Center. These proposals must be feasible, effective, and aligned with practical conditions to fully leverage the potential and advantages of Vietnam as a whole, particularly those of Ho Chi Minh City and Da Nang City.

The Ministry of Finance serves as the Standing Agency of the Steering Committee.

The Ministry of Finance serves as the Standing Agency of the Steering Committee and is responsible for presiding over and coordinating with relevant agencies to ensure the operational conditions of the Steering Committee in accordance with Clause 1, Article 15 of the Regulation on the establishment, organization, and operation of inter-sectoral coordination bodies issued together with Decision No. 23/2023/QD-TTg dated December 10, 2023, by the Prime Minister.At the same time, it is responsible for consolidating opinions, proposals, and recommendations from ministries, agencies, and local authorities; preparing materials and documentation for the meetings of the Steering Committee; leading the development of draft reports, proposals, and recommendations of the Steering Committee for periodic or ad-hoc submission to the Government as required; and performing tasks assigned by the Head of the Steering Committee.

Phuong Nhi