Vietnam Accelerates International Financial Center Establishment, Strengthens Cooperation with Japan on Semiconductor Talent

Vietnam is poised to accelerate efforts to establish an international financial center. On September 7, Deputy Prime Minister Nguyen Van Thang chaired the third meeting of the Steering Committee for the Vietnam International Financial Center, connecting online with Ho Chi Minh City and Da Nang. Deputy Prime Minister Thang emphasized that building and operating the International Financial Center is a crucial task that requires urgent, synchronous, and practical implementation. He stressed the need to ensure complete legal frameworks and management and supervision mechanisms for the safe and effective deployment of financial products and services. With the operational bodies in Ho Chi Minh City and Da Nang already functioning, he instructed that the focus should be on simultaneously completing institutional frameworks and selecting a number of financial products with existing supply and demand for negotiation with investors, rather than waiting for all conditions to be met. Regarding the development of financial products, the Deputy Prime Minister requested the identification of necessary mechanisms and policies for each product, the responsible agencies, and the timelines for implementation to track progress. He also called for the establishment of feasible and effective inspection and supervision mechanisms that do not create excessive additional procedures. On the same day, Deputy Prime Minister Le Tien Chau received Mr. Yohei Matsumoto, Japan's Minister of Education, Culture, Sports, Science and Technology. Deputy Prime Minister Chau highly appreciated the positive progress in some areas of cooperation between the two countries, specifically mentioning cooperation in semiconductor human resource development. He noted that Vietnam's Ministry of Education and Training and Ministry of Science and Technology are studying proposals for suitable mechanisms to achieve the goal of training 250 PhDs in semiconductors within the framework of the NEXUS Program. The Deputy Prime Minister requested the Japanese side to continue active coordination and provide favorable conditions for Vietnamese candidates to receive support smoothly. Vietnam identifies Japan as one of its foremost and long-term partners in achieving its development goals in the new era. Deputy Prime Minister Chau proposed that Minister Matsumoto continue to pay attention to and promote the increase in the number and scale of co-funded joint research projects within the NEXUS Program and the Sakura Science Program, expedite the negotiation and signing of the agreement to develop the Vietnam-Japan University, and support Vietnam in training high-quality human resources. Minister Matsumoto stated that Japan's Ministry of Education, Culture, Sports, Science and Technology wishes to enhance cooperation with Vietnam in the fields of science and technology, digital transformation, and innovation. He affirmed his commitment to making further efforts to contribute practically to the Vietnam-Japan relationship. Source: Nhan Dan