Establishment of the Executive Council for the International Financial Centre in Viet Nam

According to the Decision, Standing Deputy Prime Minister Nguyen Hoa Binh serves as Chairman of the Executive Council.
 

The Vice Chairpersons of the Council include:

Members of the Executive Council consist of leaders of ministries and ministerial-level agencies, including:

Functions, Tasks and Powers of the Executive Council

The Decision stipulates that the Executive Council is responsible for issuing strategies, roadmaps and development plans for the International Financial Centre in Viet Nam (hereinafter referred to as the International Financial Centre), based on the conditions, potential and development needs of the centres in Ho Chi Minh City and Da Nang.

Additionally, the Council is tasked with issuing operational regulations for the International Financial Centre based on proposals from the International Financial Centre Management Agency in Ho Chi Minh City and the Management Agency in Da Nang (hereinafter referred to as the Management Agencies of the two cities).

The Council shall provide opinions on the appointment, dismissal or removal of the Chairpersons of the Management Agencies in the two cities and decide on matters where the Management Agencies have not reached consensus.

The Council will establish an Advisory Board comprising reputable domestic and international financial and legal experts to provide recommendations and consultations for the development of the International Financial Centre.

It will also regularly direct, monitor and ensure the effective construction, operation and development of the International Financial Centre, thereby enhancing Viet Nam’s position in the global financial system and contributing positively to national socio-economic development.

Periodically, and when required to address matters beyond its authority, the Executive Council shall report on the status of construction, operation and development of the International Financial Centre to propose relevant policies and seek guidance from the Government and the Prime Minister.