Prime Minister Pham Minh Chinh signed Decision No. 2755/QD-TTg on December 18, 2025, to officially form the council.

According to the decision, Nguyen Hoa Binh, Standing Deputy Prime Minister, will serve as Chairman of the Executive Council.

Vice Chair positions have been assigned to Nguyen Thi Hong, Governor of the State Bank of Vietnam; Nguyen Van Thang, Minister of Finance; Nguyen Van Duoc, Chairman of the Ho Chi Minh City People’s Committee; and Pham Duc An, Chairman of the Da Nang People’s Committee.

Other members include high-ranking officials from key ministries: Nguyen Thanh Tinh, Deputy Minister of Justice; Nguyen Manh Khuong, Deputy Minister of Home Affairs; Nguyen Sinh Nhat Tan, Deputy Minister of Industry and Trade; and Nguyen Hoang Hiep, Deputy Minister of Agriculture and Environment.

Strategic coordination between HCMC and Da Nang

The council is tasked with issuing strategic roadmaps and development plans for Vietnam’s international financial centers, based on the specific conditions, development potential, and local needs of both Ho Chi Minh City and Da Nang.

It will also set regulations governing the centers, based on proposals from the administrative bodies overseeing each city’s financial center.

The council holds authority to weigh in on appointments, dismissals, and removals of leaders at both administrative bodies, as well as to resolve disagreements between the two city centers.

Advisory council of domestic and international experts

To strengthen its capacity, the Executive Council will establish an Advisory Council composed of highly regarded financial and legal experts from both Vietnam and abroad. This advisory body will provide strategic recommendations for developing the financial centers.

The Executive Council is expected to regularly monitor, direct, and ensure effective construction, operation, and growth of the international financial centers.

Its ultimate goal is to elevate Vietnam’s position in the global financial ecosystem and contribute meaningfully to national economic and social development.

Direct oversight from the central government

On a regular basis - or when dealing with issues beyond its jurisdiction - the Executive Council will report on the progress, challenges, and development of the financial centers to the Government and the Prime Minister.

These reports may include policy recommendations and requests for further guidance, ensuring close alignment between national leadership and the council’s mission.

PV