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| A corner of dynamic and modern Ho Chi Minh City. Illustration photo: Ngoc Ha/VNA |
This Resolution provides for the establishment, operation, management, supervision and specific mechanisms and policies applicable to the International Financial Center in Vietnam; applicable to members of the International Financial Center, investors, agencies, organizations and individuals related to the operation of the International Financial Center established under this Resolution.
Operating principles of members: Effective, transparent, and honest operation; professional in providing financial services and support services; applying international standards in the operations of members.
State management activities in the International Financial Center must ensure the independence of the International Financial Center and its members.
The State recognizes and protects the property ownership, investment capital, income, and other legitimate rights and interests of members.
The State has specific and outstanding mechanisms and policies to encourage and facilitate the attraction of capital, technology, modern management methods, high-quality human resources, and infrastructure development into the International Financial Center in order to: Create an attractive environment for investment in the financial services sector to promote investment attraction and free movement of international capital between the International Financial Center and the world ; develop the stock market, insurance, banking activities, financial technology, digital assets, goods, e-commerce in Vietnam and integrate with the international market; attract and develop innovation and financial services to support green and sustainable projects in Vietnam; develop financial services and support services according to international practices; attract and develop high-quality human resources in Vietnam capable of providing financial services and related professional services according to international standards.
The Executive Agency and the Supervisory Agency are organized in a streamlined manner, with appropriate, effective and efficient authority; special administrative procedures are applied, meeting the requirements of investors, organizations and individuals according to the provisions of this Resolution and detailed regulations and implementation instructions, in accordance with international practices and Vietnamese conditions.
Investment and business activities at the International Financial Center are regulated by: This Resolution and detailed regulations and implementation instructions; Current laws of the Socialist Republic of Vietnam in cases where the documents specified in Point a of this Clause do not provide.
Choosing to apply foreign law in investment and business transactions at the International Financial Center, for transactions involving at least one foreign individual or organization, the parties to the transaction may agree to choose to apply foreign law to that transaction. Foreign law shall not be applied in cases where the consequences of its application are contrary to the fundamental principles of Vietnamese law. In cases where the parties do not have an agreement on the applicable law, the law of the country with the closest connection to that transaction shall be applied.
For transactions relating to ownership, other rights to real estate, lease of real estate or use of real estate as collateral, the law of the country where the real estate is located shall apply.
In order to ensure national interests and prevent factors that may threaten national security, legal documents on the International Financial Center may provide restrictive measures for members.
In the process of implementing this Resolution, the Government shall issue Decrees to handle arising issues that are different from the laws, resolutions of the National Assembly , ordinances, resolutions of the National Assembly Standing Committee and report to the National Assembly and the National Assembly Standing Committee at the nearest session or meeting. The Government shall issue Decrees to ensure compliance with the Party's regulations on power control, ensure national interests, the interests of the people and businesses, ensure conditions for implementation and be responsible for the issued regulations.
The official language in transactions and operations at the International Financial Center is English or English with Vietnamese translation.
The regulations and statutes of the International Financial Center are issued in English and Vietnamese. Statistical, financial, technical and other documents are stored at the International Financial Center in English or in English with Vietnamese translation.
Administrative procedures, transactions between members, transactions between members and foreign organizations and individuals and dispute resolution are conducted in English or English with Vietnamese translation...
According to VNA
Source: https://baokhanhhoa.vn/chinh-tri/hoat-dong-lanh-dao-trung-uong/202507/nghi-quyet-ve-trung-tam-tai-chinh-quoc-te-tai-viet-nam-82c4199/
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