Vietnam establishes support body for International Financial Center Council

THE HANOI TIMES — Vietnam will set up an advisory body for its International Financial Center to oversee, coordinate and consolidate progress in the center’s establishment, operations and long-term development, according to an official decision.

The decision was mentioned in a legal document No. No. 01/QD-HDDHTTTC signed by Permanent Deputy Prime Minister Nguyen Hoa Binh, Chairman of the Governing Council of the International Financial Center in Vietnam.

The decision defines the body as an advisory and support unit to the chairman, assisting in the direction and operation of the council, in line with the functions and powers set out in its working regulations.

Among its core tasks is monitoring and consolidating developments related to the establishment, operation and long-term development of Vietnam’s International Financial Center.

The advisory unit will work closely with operating authorities of the International Financial Center in Ho Chi Minh City and Danang, as well as relevant agencies, to carry out assigned tasks.

The support body prepares the Council’s work programs and annual plans for submission to the Chairman. It is also responsible for monitoring progress and urging the implementation of approved plans.

In terms of regulatory work, the unit provides advice on drafting, reviewing and finalizing regulations and documents within the Council’s authority. It functions as the central point for collecting proposals and recommendations from city-level operating authorities and reporting them to the Chairman for consideration and decision.

To ensure smooth coordination, the unit maintains information flows among the Chairman, Vice Chairmen and Council members. It also facilitates communication between the Council and operating authorities at the city level.

Budget estimates for the Council and its office are prepared by the unit, which also manages assigned assets, facilities and funds in accordance with legal requirements. The management of the Council’s seal is carried out under current regulations.

The unit prepares agendas and documents for Council meetings as assigned and drafts notices on meeting conclusions for issuance by the chairman or vice chairmen. It then follows up and urges the implementation of those conclusions.

Beyond internal coordination, the support body undertakes international cooperation, information and communication activities. These efforts focus on disseminating policies, mechanisms, operating models and other matters related to the International Financial Center in Vietnam.

The unit also prepares periodic and ad hoc reports at the request of the Chairman and proposes solutions to issues arising in the daily operations of the Council, its office and the International Financial Center. Additional tasks may be assigned when necessary.

The Office of the Governing Council comprises the General Affairs Division, the Professional Affairs Division and the International Cooperation Division, with additional divisions to be established by decision of the chairman if necessary.

The office is headed by a chief of office, assisted by deputy chiefs. The chief of office is accountable to the chairman and before the law for all office activities, including personnel, financial management and assigned assets.