Government Issues Decree on the Establishment of the International Financial Centre in Viet Nam

The International Financial Centre (IFC) is defined as a unified legal entity operating at two locations: Ho Chi Minh City and Da Nang City.

The Decree comprises 7 chapters and 23 articles detailing and guiding the implementation of Articles 8 and 9 of Resolution No. 222/2025/QH15 dated 27 June 2025 of the National Assembly regarding the establishment of the International Financial Centre in Viet Nam (hereinafter referred to as Resolution No. 222/2025/QH15).

The Decree applies to members of the IFC, investors, organisations and individuals involved in business and investment activities and dispute resolution within the IFC; the International Financial Centre Management Authority, supervisory authorities, and dispute resolution bodies; as well as other relevant organisations and individuals.

A Unified Legal Entity Operating in Ho Chi Minh City and Da Nang

The Decree stipulates that the International Financial Centre is a unified legal entity operating in both Ho Chi Minh City and Da Nang City.

The Operating Regulations of the IFC are approved by the IFC Executive Council and apply uniformly to both locations. All standards, regulations, procedures, rules, operational templates and licensing criteria within the IFC shall be promulgated in a unified manner and concurrently applied at both locations.

The Viet Nam International Financial Centre in Ho Chi Minh City is oriented to develop into an international financial hub with a comprehensive and diversified financial ecosystem, providing traditional and sophisticated financial services and leveraging synergies across activities such as capital mobilisation, investment, payments, issuance and trading of financial instruments, asset management, financial technology (fintech), green finance and other specialised financial services.

The Viet Nam International Financial Centre in Da Nang City is oriented to develop into a modern IFC closely linked to the innovation, digital technology and sustainable finance ecosystem. It will serve as a controlled testing ground for new financial models, pioneering the deployment and expansion of digital assets, digital payments, trading platforms and specialised exchanges; promoting supply-chain finance, third-party financial services and non-deposit lending institutions to complement traditional financial markets; and developing specialised, flexible and innovative financial products.

Allocating Adequate Resources for IFC Operations

Regarding development plans and timelines, the Ho Chi Minh City People’s Committee and the Da Nang People’s Committee must ensure that during 2025–2026:

From 2026 onward, IFC agencies must lead and coordinate with ministries and ministerial-level agencies to propose and formulate specialised, breakthrough mechanisms and policies to attract capital, technology, modern management methods, high-quality human resources, major financial institutions and global investors, and to complete a transparent, unified legal framework for the IFC.

They must also establish appropriate supervisory and risk-management mechanisms to safeguard national financial–monetary security.

The IFC must simultaneously develop detailed roadmaps, management and supervision mechanisms, and synchronised technical infrastructure and essential services (transport, telecommunications, IT logistics and other relevant services) to ensure effective IFC operations.

Within five years from the effective date of this Decree, the IFC Executive Council shall conduct a mid-term review, assess operations and report to the Government. If necessary, the Council may propose restructuring the IFC toward a streamlined and unified model, ensuring no disruption to operations at either location.

Location, Administrative Boundaries and Land Area of the IFC

In Ho Chi Minh City

In Da Nang City

The Ho Chi Minh City People’s Committee and the Da Nang People’s Committee shall determine detailed administrative boundaries, land allocation and designated IFC areas. The International Financial Centre Management Authority in both cities shall publicly disclose information via the IFC’s electronic single-window administrative system.

The IFC will consist of functional zones such as: financial trading zones, banking services zones, securities and commodities exchange areas, office zones, arbitration centres and courts, and other specialised zones as stipulated by the International Financial Centre Management Authority in both cities.

Land allocation must comply with approved regional and urban planning. If not yet consistent, the city authorities must update the planning documents in the nearest review cycle to ensure timely land allocation for IFC development.

Land must have appropriate size, feasibility, favourable natural conditions, clear boundaries, adequate infrastructure and essential services, convenient transportation access, and linkages to research and training institutions. Environmental protection and national defence–security requirements must also be ensured.

List of Priority Sectors, Products and Services for IFC Development

The Decree also promulgates the list of priority sectors and services for IFC development, including:

Executive Council for the International Financial Centre

Prime Minister Pham Minh Chinh has signed Decision No. 2755/QD-TTg dated 18 December 2025 establishing the Executive Council of the International Financial Centre.

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

The Executive Council is responsible for issuing the development strategy, roadmap and plans of the IFC based on the conditions and development needs of Ho Chi Minh City and Da Nang; and for promulgating the IFC Operating Regulations based on proposals from the International Financial Centre Management Authority of both cities.

An Advisory Council comprising reputable domestic and international financial and legal experts shall also be established to advise the Executive Council on IFC development.