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THE GOVERNMENT OF VIETNAM |
THE SOCIALIST REPUBLIC OF VIETNAM |
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No. 323/2025/ND-CP |
Hanoi, December 18, 2025 |
ON THE ESTABLISHMENT OF AN INTERNATIONAL FINANCIAL CENTER IN VIETNAM
Pursuant to the Law on Organization of the Government No. 63/2025/QH15;
Pursuant to the Law on Organization of Local Governments No. 72/2025/QH15;
Pursuant to Resolution No. 222/2025/QH15 of the National Assembly on the international financial center in Vietnam;
At the request of the Minister of Finance;
The Government promulgates the Decree on the establishment of an International Financial Center in Vietnam.
This Decree provides elaboration of and guidelines for implementation of Article 8 and Article 9 of Resolution No. 222/2025/QH15 dated June 27, 2025 of the National Assembly on the International Financial Center in Vietnam (hereinafter referred to as Resolution No. 222/2025/QH15) regarding the establishment of an International Financial Center in Vietnam (hereinafter referred to as the International Financial Center).
1. Members of the International Financial Center, investors, organizations, and individuals related to investment and business activities and dispute resolution within the International Financial Center.
2. The Executive body, the Supervisory body, and the Dispute resolution body of the International Financial Center.
3. Other relevant agencies, organizations, and individuals.
Article 3. Name, objectives, and development orientation of the International Financial Center
1. The International Financial Center is a unified legal entity operating at two locations, namely Ho Chi Minh City and Da Nang City. The operating regulations of the International Financial Center shall be approved by the executive council of the International Financial Center, have general effect, and be applied uniformly at both locations. All standards, regulations, procedures, rules, operational forms, and licensing standards within the International Financial Center shall be promulgated uniformly and applied concurrently at both locations.
2. Official names:
a) Vietnamese: Viet Nam International Financial Center in Ho Chi Minh City and Viet Nam International Financial Center in Da Nang City;
b) English: Viet Nam International Financial Center in Ho Chi Minh City (VIFC-HCMC) and Viet Nam International Financial Center in Da Nang City (VIFC-DN).
3. The development objectives of the International Financial Center shall comply with Article 4 of Resolution No. 222/2025/QH15 and include the following contents:
a) Establish a synchronized, transparent legal framework in conformity with international practices and standards, with competitive advantages to attract financial institutions and international investors from various countries;
b) Enhance the attraction and concentration of domestic and foreign capital sources, leverage opportunities from shifts in international capital flows to supplement resources for Vietnam’s socio-economic development. The International Financial Center shall serve as a gateway connecting global capital flows with Vietnam, contributing to the promotion of development of key economic sectors;
c) Connect and support value chains in Vietnam’s strategic sectors. Through financial services provided within the International Financial Center, form a bridge to attract investment and financing for projects in strategic sectors, enhance value added, and strengthen the competitiveness of Vietnam’s economy in the global value chain.
4. Development orientation of the International Financial Center
a) The Viet Nam International Financial Center in Ho Chi Minh City shall be oriented toward development into an International Financial Center with a comprehensive and diverse financial ecosystem; provide traditional and specialized financial services, leverage synergistic and complementary impacts of financial services such as capital mobilization, investment, payment, issuance and trading of financial products, asset management, technology-enabled financial services (fintech), green financial services, and other financial services;
b) The Viet Nam International Financial Center in Da Nang City shall be oriented toward development into a modern International Financial Center, closely integrated with the innovation ecosystem, digital technology, and sustainable finance, establishing a regulatory sandbox for new financial models, pioneering the roll-out and expansion of digital asset products, digital payments, trading platforms, and specialized exchanges; promoting supply chain finance, third-party services, and non-deposit-taking lending institutions to complement and support the traditional financial market, forming specialized, flexible, and innovative financial products.
Article 4. Roadmap and development plan
1. The People’s Committee of Ho Chi Minh City and the People’s Committee of Da Nang City shall ensure that during the period 2025 – 2026:
a) The International Financial Center is established and put into operation; including the allocation of sufficient resources and human resources necessary for the operation of agencies and organizations within the International Financial Center;
b) A number of key infrastructure projects are completed to serve as the foundation for the International Financial Center, ensuring seamless connectivity;
c) A modern financial ecosystem is developed: promoting exchanges and new trading platforms as prescribed in Article 13 of Resolution No. 222/2025/QH15, technology-enabled financial services (fintech); initially forming an ecosystem of advisory and support services meeting international standards to serve the operation of the International Financial Center.
2. From 2026 onward, agencies and organizations of the International Financial Center shall take charge and cooperate with ministries and ministerial agencies to carry out the following:
a) Propose and develop specific and superior mechanisms and policies in accordance with an appropriate roadmap to encourage and enable the attraction of capital, technology, modern management methods, high-quality human resources, major financial institutions, and international investors, and to complete a synchronized, transparent, and unified legal framework for the International Financial Center, while establishing appropriate inspection, supervision, and risk management mechanisms to ensure national financial and monetary security and safety;
b) Develop in detail the roadmap and development plan and promulgate mechanisms for management and supervision of operations at the International Financial Center;
c) Develop in a synchronized manner technical infrastructure and essential services (transport, telecommunications, information technology logistics, and other necessary infrastructure and services) to enable the operation and development of the International Financial Center.
3. Within 5 years from the date this Decree comes into force, the executive council of the International Financial Center shall take charge of conducting a mid-term review, evaluation, and reporting to the Government on the results of operation of the International Financial Center; where necessary, it shall submit a restructuring plan toward streamlining and unification upon satisfaction of safety and efficiency conditions, ensuring no interruption of operational activities at the two locations.
Article 5. Location, administrative boundaries, and area of the International Financial Center
1. In Ho Chi Minh City
a) Area: approximately 898 ha;
b) Location within the administrative boundaries of Saigon Ward, Ben Thanh Ward, and Thu Thiem Urban Area under An Khanh Ward, Ho Chi Minh City. Specifically, the boundary scope is defined within the area bounded by Vo Van Kiet – Pho Duc Chinh – Nguyen Cong Tru – Nam Ky Khoi Nghia – Le Duan – Ton Duc Thang – Nguyen Huu Canh – Nhieu Loc – Thi Nghe Canal – Saigon River – boundary of Lan Anh Villa Area – Tran Bach Dang – Tran Nao – the northern and northeastern boundary segment of Thu Thiem New Urban Area – Road No. 7 – Ca Tre Creek – Saigon River – Vo Van Kiet.
2. In Da Nang City:
a) Area: approximately 300 ha;
b) Location: An Hai Ward with a total area of 6.17 ha comprising 5 land lots A12, A13, A14, A15, and A*; a 20-storey information technology building in Software Park No. 2 under Hai Chau Ward with an area of 0.12 ha; a land area northwest of the access road to Thuan Phuoc Bridge under Hai Chau Ward with an area of 9.7 ha; a land plot at the corner of Nhu Nguyet – Xuan Dieu Streets under Hai Chau Ward with an area of 1.98 ha; and approximately 282 ha within the proposed sea-reclamation development area opposite Nguyen Tat Thanh Street.
3. The People’s Committee of Ho Chi Minh City and the People’s Committee of Da Nang City shall determine in detail the location, administrative boundaries, area, and land fund allocated to the International Financial Center within their localities. The Executive body of the International Financial Center in Ho Chi Minh City and the Executive body of the International Financial Center in Da Nang City shall be responsible for organizing the disclosure of information on the electronic single-window administrative system of the International Financial Center.
4. The International Financial Center comprises functional sub-zones such as financial trading areas, banking service zones, securities and commodities exchange areas, office zones, arbitration center zones, courts, and other functional sub-zones as prescribed by the Executive body of the International Financial Center in Ho Chi Minh City and the Executive body of the International Financial Center in Da Nang City, ensuring smooth operation of members, agencies, and organizations of the International Financial Center and relevant investors, agencies, organizations, and individuals within the localities.
5. The allocation of land fund for the International Financial Center within the localities must satisfy the following conditions:
a) In conformity with regional planning and city planning approved by competent authorities. In case of inconsistency with planning, the People’s Committee of Ho Chi Minh City and the People’s Committee of Da Nang City shall be responsible for supplementing and synchronously updating such content into regional planning and city planning in the course of planning adjustment or the formulation of the nearest planning to ensure timely allocation of land fund for the establishment and organization of operations of the International Financial Center within the localities;
b) Having appropriate area scale and feasibility in land use; suitability in natural conditions;
c) Having specific boundaries; conditions for infrastructure development and essential services; favorable transport location;
d) Having the ability to connect with high-level research and training institutions;
dd) Meeting environmental protection conditions in accordance with the law on environmental protection;
e) Ensuring national defense and security.
Article 6. List of sectors, trades, products, and services prioritized for development of the International Financial Center
1. The list of sectors, trades, products, and services prioritized for development of the International Financial Center is specified in the Appendix enclosed with this Decree.
2. The Executive body of the International Financial Center in Ho Chi Minh City and the Executive body of the International Financial Center in Da Nang City shall provide elaboration of the list of sectors, trades, products, and services prioritized for development within their localities in accordance with Clause 1 of this Article.
Article 7. Operating regulations and application of law at the International Financial Center
1. The executive council of the International Financial Center is authorized to promulgate the operating regulations or other equivalent documents to provide specific provisions on the organization and operation of the International Financial Center, not contrary to the Constitution 2013, international treaties to which the Socialist Republic of Vietnam is a member, in compliance with international practices and standards, and ensuring consistency with the fundamental principles and policies stipulated in Resolution No. 222/2025/QH15 and documents on elaboration of and guidelines for implementation of this Resolution.
2. The promulgation and amendment of the operating regulations must ensure transparency and feasibility, involve broad consultation with relevant stakeholders, and protect the lawful interests of relevant parties.
3. In case of differences between prevailing laws (excluding the Constitution) and the operating regulations on matters falling within the scope and regulated entities of the operating regulations, the operating regulations shall prevail.
The Executive body comprises:
1. The executive council of the International Financial Center (hereinafter referred to as the executive council).
2. The Executive body of the International Financial Center in Ho Chi Minh City and the Executive body of the International Financial Center in Da Nang City (hereinafter referred to as the executive authorities in the cities).
1. The executive council shall be established, comprising:
a) The President of the executive council, decided by the Prime Minister;
b) Vice Presidents of the executive council, including leaders of the Ministry of Finance; leaders of the State Bank of Vietnam; the President of the People’s Committee of Ho Chi Minh City; and the President of the People’s Committee of Da Nang City;
c) Members of the executive council who are leaders of relevant ministries and ministerial agencies.
2. The executive council shall have the following tasks and powers:
a) Promulgate strategies, roadmaps, and development plans of the International Financial Center;
b) Promulgate the operating regulations of the International Financial Center;
c) Give opinions on the appointment, reappointment, dismissal, and removal of the President of the Executive body of the International Financial Center in Ho Chi Minh City and the President of the Executive body of the International Financial Center in Da Nang City;
d) Decide on matters not unified between the Executive body of the International Financial Center in Ho Chi Minh City and the Executive body of the International Financial Center in Da Nang City;
dd) Establish the advisory council of the International Financial Center comprising reputable domestic and international financial and legal experts, which has the function of providing consultancy and advice to the executive council;
e) Carry out other tasks related to the International Financial Center as assigned by the Government and the Prime Minister.
3. The executive council shall have an assisting body. The President of the executive council shall decide on the establishment of the assisting body.
4. The Prime Minister shall decide on the establishment of the executive council.
Article 10. Executive authority of the International Financial Center in Ho Chi Minh City and Executive body of the International Financial Center in Da Nang City
1. The Executive body of the International Financial Center in Ho Chi Minh City shall be established under the People’s Committee of Ho Chi Minh City, and the Executive body of the International Financial Center in Da Nang City shall be established under the People’s Committee of Da Nang City.
2. The executive authorities in the cities shall have legal entity status and seals bearing the National Emblem, be entitled to open accounts at the State Treasury to receive funding from the state budget and open accounts at commercial banks for non-state budget funding sources. The executive authorities in the cities are special administrative agencies, performing state management of activities within the International Financial Center in accordance with this Decree and other relevant legal normative documents.
3. Functions:
The executive authorities in the cities have the function of managing and directly administering activities within the International Financial Center in their respective localities according to competence or authorization and the operating regulations approved by the executive council; operating independently in carrying out the assigned tasks and powers in accordance with Clauses 4 and 5 of this Article and other relevant legal normative documents.
4. Tasks
a) Formulate and promulgate plans for mobilization, allocation, and use of resources from the state budget, private investment, and other lawful sources to invest in and develop infrastructure and essential services within the International Financial Center in their respective localities. Formulate plans for training high-quality human resources to serve the International Financial Center in line with development needs and trends;
b) Formulate and operate in a unified manner the electronic single-window administrative system of the International Financial Center; including the Member registration and recognition system prescribed in Clause 8 Article 10 of Resolution No. 222/2025/QH15 and other systems serving activities within the International Financial Center;
c) Formulate, promulgate, and organize implementation of internal procedures and technical guidelines; standards, conditions, and procedures for enterprise registration, member registration, and licensing at the two locations must ensure the principle of unified registration and recognition at both locations of the International Financial Center in accordance with the operating regulations;
d) Formulate, promulgate guiding documents and organize implementation of the issuance, amendment, supplementation, and revocation of membership registration certificates, establishment and operation licenses in the banking, securities, and insurance sectors, and relevant documents in other sectors according to competence, through the electronic single-window administrative system;
dd) Formulate and promulgate guiding documents on management and supervision of activities of members within the International Financial Center;
e) Report to the city-level People’s Committee proposals for provision of non-refundable funding support from the local budget to fintech enterprises and decide on project execution after approval by the city-level People’s Committee in cases prescribed in Clause 5 Article 24 of Resolution No. 222/2025/QH15;
g) Promulgate regulatory sandbox mechanisms, and policies; grant licenses and manage technologies, products, services, and business models for which laws have not yet provided regulations, for a maximum duration of no more than 5 years. Promulgate incentive and support programs to promote development of green finance; digital assets and fintech; commodity markets, commodity derivatives, and other sectors according to competence;
h) Perform management of organizational structure, payroll, and number of working persons; decide on rotation, transfer, secondment, appointment, reappointment, dismissal, removal from office, retirement, resignation, commendation, and discipline; implement salary entitlements, policy entitlements, and training and capacity building for officials, civil servants, public employees, and employees within the scope of management according to competence. Promulgate guidelines on implementation of salary entitlements and specific, superior remuneration entitlements under market mechanisms for officials, civil servants, public employees, and employees within the scope of management according to competence;
i) Promulgate guiding documents on the basis of consistency with the State Bank of Vietnam and organize implementation of handling administrative procedures and receipt of declaration information related to foreign exchange management through the single-window administrative system in accordance with the Decree on licensing for establishment and operation of banks, foreign exchange management, anti-money laundering, counter-terrorist financing, and prevention of financing of proliferation of weapons of mass destruction at the International Financial Center;
k) Carry out other tasks in accordance with the operating regulations and relevant legal provisions; and other tasks as assigned by the Government, the executive council, and the city-level People’s Committee.
5. Powers
a) Issue, amend, supplement, and revoke membership registration certificates, establishment and operation licenses in the banking, securities, insurance, and other sectors according to competence within the International Financial Center;
b) Develop financial and technological infrastructure and support services; act as project owner for assigned projects; raise capital from international financial institutions and development banks;
c) Be delegated by the city-level People’s Committee with respect to administrative procedures related to activities within the International Financial Center under the competence of the People’s Committee and agencies and units under the People’s Committee;
d) Take charge and cooperate with relevant agencies in addressing obstacles arising in the course of operation of the International Financial Center within the locality; organize assessment of project execution and financial activities within the International Financial Center within the locality to ensure compliance with law;
dd) Be entitled to apply contractor appointment and contractor selection in special cases for infrastructure system projects of the International Financial Center and apply investor appointment and investor selection in special cases for infrastructure investment projects implemented under the PPP method of the International Financial Center;
e) Manage and use state budget funds allocated and other revenue sources in accordance with regulations; manage and use assets and construction investment projects according to competence; prevent and combat corruption and waste;
g) Exercise other powers in accordance with the operating regulations and as assigned by the executive council and the city-level People’s Committee.
6. Organizational structure
a) The executive authorities in the cities shall have a President, Vice Presidents (the number decided by the President of the city-level People’s Committee), and a Chief Executive Officer (permitting the hiring of domestic or foreign experts);
b) Agencies and units under the executive authorities in the cities include: the Office; the Strategy and Synthesis Division; the Legal Affairs Division; the Membership Division; the Technology Division; and other specialized units as decided by the President of the executive authorities in the cities, ensuring streamlining, meeting development requirements of the International Financial Center, and carrying out key task groups related to policy proposal, policy enforcement, and delivery of public services within the International Financial Center;
c) The appointment, removal, and dismissal of the President of the executive authorities in the cities shall be decided by the President of the city-level People’s Committee after obtaining opinions of the President of the executive council. The appointment, removal, and dismissal of Vice Presidents of the executive authorities in the cities shall be decided by the President of the city-level People’s Committee;
d) The appointment, removal, dismissal, and execution of contracts for hiring (in case of hiring) the Chief Executive Officer of the executive authorities in the cities shall be decided by the President of the executive authorities in the cities;
dd) Assign the President of the city-level People’s Committee to arrange payroll for civil servants, public employees, and the number of working persons of the executive authorities in the cities;
e) Based on workload, nature, characteristics, functions, and assigned tasks, the President of the executive authorities in the cities shall decide the number of labor contracts and the hiring of domestic and foreign experts to work at the executive authorities in the cities with salary and remuneration entitlements as prescribed at Point c Clause 2 Article 21 of Resolution No. 222/2025/QH15. The base salary applicable to officials, civil servants, public employees, salary earners, allowance recipients, and employees working at the executive authorities in the cities shall be determined in accordance with market mechanisms.
Article 11. Legal status and legal entity status
1. Establish a supervisory authority of the International Financial Center (hereinafter referred to as the supervisory authority) assigned to be managed by the People’s Committee of Ho Chi Minh City. The supervisory authority shall be headquartered in Ho Chi Minh City and may establish a branch in Da Nang City. The President of the supervisory authority shall decide on the establishment, organizational structure, functions, and tasks of the branch in Da Nang City, ensuring independent, regular, and continuous performance of assigned tasks and powers.
2. The supervisory authority is a special administrative agency with legal entity status, a seal bearing the National Emblem, an emblem (logo) in accordance with law, and is entitled to open accounts at the State Treasury to receive funding from the state budget and open accounts at commercial banks for non-state budget funding sources.
3. The supervisory authority shall perform functions, tasks, and powers in accordance with Article 12 of this Decree and other relevant legal normative documents.
Article 12. Functions, tasks, and powers
1. Functions:
The supervisory authority has the function of inspection, examination, supervision, prevention, and handling of violations within the International Financial Center in accordance with Clauses 2 and 3 of this Article and other relevant legal normative documents, ensuring that activities of members, investors, organizations, and individuals within the International Financial Center comply with regulations.
2. Tasks
a) Promulgate plans and regulations on professional procedures and organize implementation of inspection, examination, and supervision activities on the basis of the operating regulations of the International Financial Center;
b) Conduct inspection, examination, and supervision according to plans or on an ad hoc basis to prevent and handle violations; cooperate with relevant agencies in inspection, examination, supervision, and handling of violations within the International Financial Center;
c) Cooperate with relevant agencies in assessment, monitoring, and summarization of the application of regulatory sandbox policies within the International Financial Center;
d) Take charge and cooperate with agencies and organizations within the International Financial Center and relevant agencies in promulgating the operating regulations of the supervisory authority;
dd) Perform management of organizational structure, payroll, and number of working persons; decide on rotation, transfer, secondment, appointment, reappointment, dismissal, removal from office, retirement, resignation, commendation, and discipline; implement salary entitlements, policy entitlements, and training and capacity building for officials, civil servants, public employees, and employees within the scope of management according to competence;
e) Take charge and cooperate with relevant agencies in receiving and handling feedback, petitions, and difficulties of organizations and individuals; cooperate in settlement of complaints and disputes within the International Financial Center;
g) Carry out other tasks in accordance with the operating regulations of the International Financial Center and as assigned by the Government and the Prime Minister.
3. Powers
a) Apply provisions on measures for handling violations, administrative sanctions, requirements for remedial measures, and application of other handling measures in accordance with the operating regulations of the International Financial Center;
b) Manage and use allocated state budget funds and other revenue sources in accordance with regulations; manage assets and construction investment projects according to competence; prevent and combat corruption and waste;
c) Be delegated by the city-level People’s Committee with respect to administrative procedures related to activities within the International Financial Center under the competence of the People’s Committee and agencies and units under the People’s Committee;
d) Exercise other powers in accordance with the operating regulations of the supervisory authority and as assigned by the Government and the Prime Minister.
Article 13. Organizational structure
1. The Supervisory body shall have a President and Vice Presidents (the number decided by the President of the People’s Committee of Ho Chi Minh City). The President is the head of the Supervisory body and shall be held accountable to the Government, the Prime Minister, and the law for all activities of the Supervisory body. The Vice Presidents shall be held accountable to the President and before the law for assigned fields of work.
2. Agencies and units under the Supervisory body include: the Office; the Legal Affairs and Risk Management Division; the Inspection, Examination, and Supervision Division; the Technology and Information Division; and other specialized units as decided by the President of the Supervisory body, ensuring streamlining, meeting development requirements of the International Financial Center, and carrying out task groups within the scope of the International Financial Center.
3. The appointment, removal, and dismissal of the President and Vice Presidents of the Supervisory body shall be decided by the President of the People’s Committee of Ho Chi Minh City. For branches established in Da Nang City, the appointment, removal, and dismissal of branch leaders of the Supervisory body in Da Nang City shall be decided by the President of the People’s Committee of Ho Chi Minh City on the basis of consensus with the President of the People’s Committee of Da Nang City.
4. Assign the President of the People’s Committee of Ho Chi Minh City to arrange payroll for civil servants, public employees, and the number of working persons at the Supervisory body. In case a branch is established in Da Nang City, the President of the People’s Committee of Ho Chi Minh City shall cooperate with the President of the People’s Committee of Da Nang City to reach consensus on appropriate arrangements for payroll for civil servants, public employees, and the number of working persons.
5. Based on workload, nature, characteristics, functions, and assigned tasks, the President of the Supervisory body shall decide the number of labor contracts and the hiring of domestic and foreign experts to work at the Supervisory body with salary and remuneration entitlements as prescribed at Point c Clause 2 Article 21 of Resolution No. 222/2025/QH15. The base salary applicable to officials, civil servants, public employees, salary earners, allowance recipients, and employees working at the Supervisory body shall be determined in accordance with market mechanisms.
Article 14. Dispute resolution body
1. The Dispute resolution body at the International Financial Center comprises:
a) A specialized court;
b) The international arbitration center under the International Financial Center.
2. The settlement of disputes at the International Financial Center shall be carried out in accordance with Resolution No. 222/2025/QH15, the Law on Specialized Court at the International Financial Center, and the Decree on the International Arbitration Center under the International Financial Center.
FINANCE OF THE INTERNATIONAL FINANCIAL CENTER
Article 15. Revenue sources of the International Financial Center
1. Revenue sources of the International Financial Center derived from revenues of agencies and organizations under the International Financial Center include:
a) Revenues from voluntary contributions and lawful sponsorships of domestic and foreign organizations and individuals in accordance with law;
b) Revenues from service provision activities or other lawful activities in accordance with law;
c) Revenues from fees and charges retained for operation of the Executive body and the Supervisory body;
d) Funding allocated from the state budget and funding for performance of tasks assigned by competent regulatory agencies;
dd) Other lawful revenue sources and funding.
2. Agencies and organizations under the International Financial Center are entitled to receive and use non-refundable monetary contributions and sponsorships from domestic and foreign individuals, organizations, and enterprises to support activities at the International Financial Center. Such contributions, sponsorships, and interest accrued from deposits of such contributions and sponsorships shall be managed under a mechanism as lawful revenue sources of the International Financial Center, not constituting state budget revenues and not subject to procedures for establishment of public ownership in accordance with prevailing regulations.
Article 16. Use of revenue sources of the International Financial Center
1. To be used for expenditure on performance of public services or other tasks assigned by regulatory agencies.
2. To be used for expenditure on operation of agencies and organizations under the International Financial Center.
3. To be used for expenditure on performance of service provision activities or other activities in accordance with law.
Article 17. Expenditure items for operation of agencies and organizations under the International Financial Center
1. Expenditure on payment of salaries, wages, and allowances for the management apparatus.
2. Expenditure on hiring consultants, experts, and related services serving requirements for management and operation of the International Financial Center.
3. Expenditure on payment of social insurance, unemployment insurance, health insurance, welfare, other entitlements, and contributions in accordance with law.
4. Expenditure on procurement, maintenance, repair, office supplies, assets, and equipment serving requirements for management and operation of the International Financial Center.
5. Expenditure on payment for public utility services and other necessary operating costs.
6. Expenditure on training, seminars, conferences; promotion and communication; professional training and international cooperation.
7. Other expenditures directly related to operation of agencies and organizations under the International Financial Center.
Article 18. Management of assets and finance of the International Financial Center
1. The executive authorities in the cities shall cooperate with the Supervisory body in promulgating financial disclosure standards to ensure transparency, associated with accountability and independent inspection.
2. The Supervisory body shall periodically inspect and supervise management and use of assets and finance of the International Financial Center in accordance with law.
3. Agencies and organizations under the International Financial Center shall periodically disclose transparently the status of management and use of assets and finance in accordance with law.
Article 19. Responsibilities of agencies and organizations under the International Financial Center
1. Take charge and cooperate with the Ministry of Finance, the State Bank of Vietnam, ministries, ministerial agencies, and localities in performing functions, tasks, and powers in accordance with this Decree.
2. Periodically or when necessary to address urgent and extraordinary matters, report to the Government, ministries, ministerial agencies, the People’s Committee of Ho Chi Minh City, and the People’s Committee of Da Nang City, according to state management sectors, on the operational status, implementation plans, difficulties, obstacles, and matters requiring opinions in accordance with the operating regulations of the International Financial Center.
3. The Executive body in Ho Chi Minh City and the Executive body in Da Nang City shall be responsible for cooperation and unification in:
a) Formulating and promulgating coordination regulations; establishing and operating shared systems; sharing information and real-time synchronization of the member database; providing and sharing information in accordance with the operating regulations and upon request of ministries, ministerial agencies, and localities; and mechanisms for coordination in incident handling (if any);
b) Establishing and operating unified standards, criteria, conditions, and procedures for registration and recognition of members applicable jointly at the two cities with real-time synchronization;
c) Establishing a common platform for safe and secure data management and real-time synchronization, ensuring requirements for coordination, support, and protection of data, information, and systems against risks from natural disasters, cyber-attacks, and other information security threats;
d) Sharing and providing information on orientations for development of distinct and specialized products, promoting strengths of each city; ensuring fairness and mutually supportive cooperation toward the objective of building and developing the International Financial Center in Vietnam into a leading financial center in the region and the world, contributing to enhancement of Vietnam’s position in the global financial network associated with national economic growth drivers;
dd) Promulgating guiding documents to provide specific provisions related to establishment, organization, operation, revocation, dissolution, bankruptcy, and asset liquidation of member banks.
4. The Supervisory body shall take charge and cooperate with relevant regulatory agencies in performing inspection, examination, supervision, prevention, and handling of violations within the International Financial Center.
5. Take charge and cooperate with the Ministry of Finance, the State Bank of Vietnam, and relevant ministries and sectors to promote cooperation with domestic and international organizations, associations, enterprises, and experts in participation in implementation of construction, operation, and development of the International Financial Center; organize conferences, seminars, research activities, and hiring of experts and consultants in the process of building the International Financial Center.
6. Ensure promulgation of documents within competence in conformity with the operating regulations, not contrary to The Constitution 2013, international treaties to which the Socialist Republic of Vietnam is a member, in compliance with international practices and standards, and ensuring consistency with the fundamental principles and policies stipulated in Resolution No. 222/2025/QH15 and documents on elaboration of and guidelines for implementation of the Resolution.
Article 20. Responsibilities of the People’s Committee of Ho Chi Minh City and the People’s Committee of Da Nang City
1. Mobilize resources from the state budget, private resources, and other lawful sources to invest in development of infrastructure of the International Financial Center; arrange state budget funding, facilities, public assets, and human resources to ensure operation of agencies and organizations under the International Financial Center.
2. Direct implementation of development plans and recruitment of human resources and experts for agencies and organizations under the International Financial Center.
3. In the process of building the International Financial Center, promptly handle within competence or report to competent authorities specific solutions to address and remove difficulties and obstacles, or propose specific and superior mechanisms and policies to ensure flexible and effective operation of the International Financial Center in line with practical conditions and development requirements of the financial market.
4. Perform state management tasks for the International Financial Center within assigned competence; direct local departments and agencies to perform state management functions in accordance with regulations; formulate and promulgate coordination regulations to unify handling of matters related to land, construction, infrastructure, public services, and public order and security within the International Financial Center; support agencies and organizations under the International Financial Center in management and supervision within the International Financial Center.
5. Arrange funding for operation of the executive authorities in the cities and the Supervisory body in accordance with Clause 2 Article 29 of Resolution No. 222/2025/QH15.
Article 21. Responsibilities of relevant ministries, ministerial agencies, sectors, and localities
1. The Ministry of Finance shall take charge and cooperate with relevant ministries, ministerial agencies, and localities to report to and propose to the Government orientations, recommendations on mechanisms and policies, and solutions for amendments to provisions of this Decree.
2. The Ministry of Public Security shall take charge and cooperate with the People’s Committee of Ho Chi Minh City and the People’s Committee of Da Nang City in deployment and provision of data center infrastructure and data infrastructure; supervise operation of information systems; ensure safety, security, and information security for information systems at the International Financial Center, meeting practical requirements.
3. The Ministry of National Defense shall take charge and cooperate with ministries, sectors, localities, and relevant agencies to ensure national defense and security, protect sovereignty and national interests for activities at the International Financial Center, especially activities related to critical national information infrastructure; formulate protection plans and responses to emergency situations to ensure safety for the International Financial Center; perform state management of national defense for the area of the International Financial Center in accordance with law.
4. The Ministry of Science and Technology shall cooperate and provide guidance to agencies and organizations under the International Financial Center on techniques, standards, and technical regulations related to design, construction, and operation of the electronic single-window administrative system and other systems (if any) at the International Financial Center.
5. The Ministry of Home Affairs shall cooperate and provide guidance on organization, structure, payroll, and other related contents (if any) within its management scope for agencies and organizations under the International Financial Center.
6. The State Bank of Vietnam, the Ministry of Industry and Trade, the Ministry of Finance, the Ministry of Public Security, the Ministry of Home Affairs, and other relevant ministries, ministerial agencies, and sectors shall cooperate with the supervisory authority, the People’s Committee of Ho Chi Minh City, and the People’s Committee of Da Nang City in inspection, examination, and supervision to prevent and handle violations by agencies, individuals, and organizations at the International Financial Center according to assigned management sectors.
7. Relevant ministries, ministerial agencies, sectors, and localities shall perform other tasks as assigned by the Government and the Prime Minister.
1. This Decree comes into force as of December 18, 2025.
2. In case documents referenced in this Decree are amended, supplemented, or replaced, corresponding provisions of the amending, supplementing, or replacing documents shall apply.
Article 23. Responsibilities for implementation
Ministers, Heads of ministerial agencies, Heads of Governmental agencies, the President of the People’s Committee of Ho Chi Minh City, the President of the People’s Committee of Da Nang City, and relevant organizations and individuals shall implement this Decree.
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ON BEHALF OF THE GOVERNMENT Pham Minh Chinh |
LIST OF SECTORS, TRADES, PRODUCTS, AND SERVICES PRIORITIZED FOR DEVELOPMENT OF THE INTERNATIONAL FINANCIAL CENTER
(Enclosed with Decree No. 323/2025/ND-CP dated December 18, 2025 of the Government)
1. Development of infrastructure of the International Financial Center
a) Construction and operation of infrastructure of the International Financial Center;
b) Development of digital infrastructure, digital assets, financial logistics infrastructure, cross-border payment and trading connectivity;
c) Development of financial technology systems;
d) Construction and operation of multi-asset depository, clearing, and settlement centers.
2. Green finance and finance associated with environmental, social, and governance (ESG) factors
a) Organization of markets, market support services, and trading of green debt and equity instruments, ESG instruments, green financial products and ESG products;
b) Organization of markets, market support services, and trading of green and ESG assessment products and sustainability indices;
c) Provision of infrastructure, registration, depository, clearing, and settlement services, and organization of domestic and international carbon credit trading markets;
d) Trading of insurance and reinsurance for natural disaster and climate change risks;
dd) Trading of financial services supporting tourism, sustainable services, and green tourism infrastructure funds;
e) Trading of green and ESG credit rating services and sustainability indices.
3. Commodity markets, commodity derivatives, and international trade finance
a) Organization of markets, market support services, and trading of services and solutions for supply chain finance, trade finance, and ESG;
b) Trading of corporate financial products, including trade finance, structured commodities, and commodity derivatives;
c) Trading of insurance, reinsurance, international commercial insurance brokerage, transport insurance, and maritime finance;
d) Pilot sandbox for blockchain-based trade finance products;
dd) Provision of credit, including export and import loans, bank guarantees, letters of credit, factoring, discounting, and related services;
e) Trading of international financial derivative products, including equity and index derivatives;
g) Trading of banking services in accordance with regulations applicable at the International Financial Center.
4. Financial technology (Fintech) and innovation
a) Provision of infrastructure and trading of products and services related to digital assets and decentralized finance;
b) Provision of securities trading infrastructure for small and medium-sized enterprises and innovative start-ups;
c) Trading of regulatory compliance technology solutions (RegTech), including anti-money laundering and counter-terrorist financing; customer and business verification; data management; personal data protection; cybersecurity; fraud management;
d) Trading of infrastructure, platforms, services, and products related to capital markets and fund management, including crowdfunding, personal finance, asset management technology, robo-advisory, and alternative trading platforms;
dd) Research and development of new financial products, including asset tokenization and stablecoins;
e) Development and provision of capital financing platforms, including supply chain finance, receivables financing, and inventory-based financing;
g) Development of corporate financing activities of non-deposit-taking lending institutions, including factoring companies, finance companies, and financial leasing companies;
h) Provision of infrastructure, platforms, and digital banking services, including money transfer, payments, integrated payments, digital lending, and buy now pay later services;
i) Provision of infrastructure, platforms, services, and digital insurance products (InsurTech), including open insurance technology, embedded insurance, insurance lifecycle innovation, and cyber insurance;
k) Development of incubators, innovation centers, research and development centers; climate technology, green technology, Web 3.0, quantum technology, and other innovative technologies;
l) Investment in and construction of digital technology industrial infrastructure.
5. Investment funds and asset management services
a) Trading of fund management services, fund governance, fund certificates, and collective investment products;
b) Trading of family office services, brokerage services, and personal and institutional asset management;
c) Trading of digital technology funds, green and ESG funds, and green tourism infrastructure investment funds;
d) Trading of venture capital funds, private equity funds, and hedge funds;
dd) Trading of cross-border custody and fund administration services.
6. Professional support services and other sectors
a) Trading of services supporting enterprise legal compliance, including anti-money laundering and counter-terrorist financing; customer and business verification; data analysis and management; personal data protection; cybersecurity; fraud management;
b) Trading of credit rating services, asset valuation services, corporate disclosure services, accounting – auditing services, appraisal, and guarantee services;
c) Trading of risk advisory services, market research, international portfolio management; cross-border mergers and acquisitions advisory services;
d) Trading of legal services, international arbitration and dispute resolution in international finance and trade, tax services, financial advisory services in accordance with international standards, and operational support services for financial institutions;
dd) Investment in and operation of financial training infrastructure, financial technology training facilities, and international examination and certification centers;
e) Trading of services related to compliance with laws on financial crimes, including anti-money laundering (AML) and counter-terrorist financing (CFT) measures; recommendations of the Financial Action Task Force (FATF); and other related compliance activities.
