Speaking at the fourth meeting of the IFC Executive Board in Hanoi on Thursday, delegates reviewed progress reports from IFC operating bodies in Ho Chi Minh City and Da Nang, along with feedback from ministries and agencies.
The Ministry of Finance recommended that both operating bodies standardize business procedures, one-stop-shop mechanisms, membership criteria, reporting frameworks, coordination between the two locations, and the division of financial products between the cities.
Mr. Thang asked the Ministry of Finance to provide updated reports on establishing an arbitration center and specialized court. He urged regulators to accelerate the process so both institutions can begin operating as soon as possible.
On new financial products, the Deputy Prime Minister said that financial instruments traded internationally could be introduced at the IFC, provided that they align with Vietnam’s conditions, management capabilities, and risk-management capacity.
