TẠP CHÍ ĐIỆN TỬ
HCMC financial hub positioned as engine for national innovation, competitiveness
"The development of the financial center is one of the strategic spearheads to help transform the growth model, improve resource utilization efficiency, and strengthen Vietnam's position on the international stage," Minister of Finance stated.
"The year 2025 is considered a pivotal year in the Socio-Economic Development Strategy, as it is the final year of the 2021-2025 plan, and a strategic stepping stone for the accelerated period of 2026-2030, aiming to turn Vietnam into a country with a modern industry and upper-middle income by 2030, and a developed nation by 2045," stated Minister of Finance Nguyen Van Thang.
To achieve this ambitious goal, Vietnam has identified the development of the financial center as one of its strategic priorities, serving as a breakthrough in institutional development at the national level, the minister spoke at the "Building a financial center in Vietnam" conference, held in HCM City on March 28.
"The development of the financial center is one of the strategic spearheads to help transform the growth model, improve resource utilization efficiency, and strengthen Vietnam's position on the international stage," emphasized Minister Nguyen Van Thang.
Meanwhile, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc affirmed that Ho Chi Minh City is well-positioned to take on a leading role in this strategy.
The city boasts a dynamic and internationally integrated economy, contributing approximately 15.5% of Vietnam's GDP, accounting for more than 25.3% of total national budget revenue, and nearly 11.3% of the country's export turnover, according to the Chairman of the municipal People's Committee.
HCM City is the largest trade, service, and financial hub in Vietnam, housing the headquarters of numerous banks, credit institutions, securities companies, fund management firms, and significant domestic and foreign investors, he further explained.
Minister Thang added that while the concept of a financial center is not new globally, for Vietnam, it is an unprecedented initiative. He stressed the importance of a balanced approach: "Vietnam will learn by doing, without being hasty but also without being overly perfectionist, to avoid missing opportunities."
