Prime Minister Pham Minh Chinh is attending a conference in Ho Chi Minh City on Saturday to unveil the central government’s action plan for developing regional and international financial centers in Vietnam.

The event also gathers Deputy Prime Minister Nguyen Hoa Binh, Ho Chi Minh City and Da Nang City leaders, and representatives from various ministries.

Previously, the Politburo approved a plan to establish a comprehensive international financial center in Ho Chi Minh City and a regional financial center in the central city of Da Nang; as well as to set up management, supervisory, and dispute resolution bodies to oversee the financial hubs.

As per the plan, from now through 2030, Vietnam will launch eight policy groups in accordance with international standards and the country’s conditions, and pilot six globally common financial policies.

During the 2030-35 period, the Southeast Asian country will fully implement the piloted policies to align Vietnam’s financial centers with global practices.

Later in the day, PM Chinh is scheduled to attend another conference announcing Ho Chi Minh City’s 2021-30 master plan.

The government leader will also join a meeting where attendees are set to discuss measures to remove obstacles hindering projects in the southern metropolis.

According to the city’s 2021-30 master plan previously approved by PM Chinh, the city aims to become a global and sustainable metropolis, a leading economic, financial, and cultural hub in Asia by 2050, offering high living standards and serving as a growth driver for Vietnam.

Over the next five years, the city will focus on reorganizing commune-level administrative units based on acreage and population.

Ho Chi Minh City will consolidate its central urban area with six satellite urban districts, with Thu Duc City classified as a grade-one urban center, while the five outlying districts of Cu Chi, Hoc Mon, Binh Chanh, Nha Be, and Can Gio will be upgraded to urban standards.

From 2030 onward, Ho Chi Minh City will feature a central urban zone, specialized urban centers such as Thu Duc City, Cu Chi - Hoc Mon, and Binh Chanh, and an eco-urban center in Can Gio. 

By 2050, this multi-centered model will be fully realized.

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