The first is the role of building and creating a legal environment, including building a monetary policy mechanism and banking operations suitable for the purpose and development requirements of the international financial center, ensuring the promotion of the activities of financial institutions in the banking sector to develop, compete and meet the needs of capital transactions; attracting foreign investment capital and effectively using these resources for growth and development in accordance with the development goals of the international financial center.

The differences and preferential policies, along with the requirements for high-level development and compliance with international standards on governance, management, and ensuring the safety of banking operations, etc., will create a favorable legal environment. This is also the foundation for financial institutions operating in the international financial center to comply with and develop, contributing to achieving the greatest goal of promoting socio-economic growth in the new era of the country.

The second is the role of competition and promoting development. Accordingly, the development of financial institutions including commercial banks, finance companies, financial leasing companies, etc. in the international financial center will ensure effective operations, competition and development, thereby becoming a driving force to promote domestic banking activities to grow and develop safely and effectively, improve competitiveness and develop banking services in the direction of approaching foreign financial institutions.

In this process, domestic credit institutions operating in the international financial center not only meet the requirements and criteria to become members of the international financial center, but also compete for development with the requirements of applying modern banking technology, high-quality human resources, capital mobilization capacity as well as capital and banking services in connection and development with the international financial market. This is not only an important role and task, but also a driving force to promote the development of domestic credit institutions, as well as effectively use and promote the monetary policy of the central bank.

Third is the role of meeting the capital needs of banking services for the economy, commodity markets, capital markets, insurance markets, etc. to develop. Exploiting and using capital effectively (domestic and foreign) not only promotes the development of these markets, but also contributes to creating growth momentum, developing the ecosystem and groups of major service industries of the city: transportation and logistics, science and technology and innovation, media, healthcare, education, trade and retail, real estate and tourism, etc. In this process, on the contrary, the development of major markets and service industries will create a favorable business environment for the international financial center to develop, operate and attract resources to contribute to the country's sustainable economic growth.

With such important roles, the contribution of the banking sector in the development of the National Assembly's resolutions and decrees related to the monetary and banking sectors, as well as promoting the achievements of the banking sector in the development of the financial center in Ho Chi Minh City (the current financial center of Ho Chi Minh City has continuously increased in rank in recent years) will be a solid foundation for the development of the banking sector. At the same time, this is also an important basis for the banking sector to actively contribute to the construction and development of the international financial center in Ho Chi Minh City in accordance with the policies and orientations of the Party and the Government.

Source: https://thoibaonganhang.vn/vai-tro-nganh-ngan-hang-trong-phat-trien-trung-tam-tai-chinh-162775.html