The centre will operate in two locations, HCM City and Danang.
Prime Minister Pham Minh Chinh attends a conference announcing the establishment of the International Financial Centre in Vietnam on December 21.
The PM’s decision to establish and launch the Steering Council of Vietnam’s International Financial Centre, chaired by Permanent Deputy Prime Minister Nguyen Hoa Binh, was announced at a conference on December 21, 2025.
It also unveiled senior appointments to the centre’s executive agencies in HCM City and Danang.
PM Chinh said: "If agricultural development in 1986 helped Vietnam escape poverty and industrial development with foreign investment helped Vietnam become an upper-middle-income country, then today marks the moment Vietnam opens the door to financial technology integration and green economy transformation to become a developed, high-income nation."
The government has issued eight decrees to implement National Assembly Resolution 222/2025/QH15 on the international financial centre in Vietnam, covering its establishment in both cities as well as financial policy, trade procedures, residency rules, land use, labour, arbitration, banking, foreign exchange and anti-money laundering.
PM Chinh said the centre aimed to mobilise large-scale, low-cost capital for strategic infrastructure without increasing public debt. The establishment represented a structural breakthrough designed to unleash resources and drive economic transformation whilst raising productivity and national competitiveness.
Vietnam did not intend to compete directly with existing regional and international financial centres, the Prime Minister said. The country would instead develop a complementary model with special policies to create an interconnected financial ecosystem.
He drew historical parallels to the rise of London in the 19th century, New York in the 20th century and Singapore and Shanghai in recent decades.
"More than a century ago, the Dragon Wharf and Hoi An trading port were bustling gateways connecting Vietnam with the world. Today marks the beginning of reviving that prosperity flow with a new mindset and new tools: finance and technology," PM Chinh said.
The centre will help position Vietnam as an important link in the global financial security network, according to the prime minister. It will also serve as a platform for Vietnamese enterprises to access international markets and advanced governance standards.
Representatives from domestic and international financial institutions pledged to channel capital into Vietnam and invest in digital transformation, green finance and inclusive finance.
Leaders from HCM City and Danang said both cities were actively implementing development plans to make Vietnam a credible and attractive financial destination.
Delegates at the conference.
PM Chinh called for a fundamental shift in administrative thinking.
"We must completely eliminate the mentality of asking and giving, of arbitrary power, of managing what we don't understand, and of banning what we can't manage," he said.
All investor issues at the centre must be handled through special one-stop procedures with sufficient authority. Unresolved matters should be reported directly to the Prime Minister.
The government would accelerate infrastructure projects including airports, seaports, metro systems and ring roads. Cities must build international-standard healthcare, education and cultural facilities to help experts and investors settle comfortably, PM Chinh said.
Supervisory agencies must operate independently and transparently while adhering to international anti-money laundering commitments, the prime minister said.
The approach must balance financial freedom with system safety without creating obstacles for clean capital linked to technology and modern management skills.
The Prime Minister asked international partners to share both success and failure experiences to help Vietnam develop faster and more sustainably. He pledged the government would continue improving the business environment and protecting legitimate rights and interests based on the principle of harmonised benefits and shared risks.
Operations begin immediately following the announcement. Agencies must allocate resources, funding, offices and necessary equipment without delay.
Any obstacles must be reported to the Prime Minister by December 25, PM Chinh said.
The government aimed to build a financial centre that is 'free, digital, green, safe, transparent, competitive, efficient and sustainable'.