On 31 March 2026, the Government of Vietnam promulgated Decree No. 92/2026/ND-CP, establishing a framework of special remuneration and institutional policies applicable to the Executive Council of the International Financial Centre (IFC) in Vietnam. The Decree took immediate effect upon issuance and constitutes a key regulatory instrument supporting the country’s ambition to develop a globally competitive financial hub.

Scope and Regulated Entities
The Decree governs three principal groups: (i) the Executive Council of the IFC, including its Chairperson, Vice-Chairpersons, and members; (ii) personnel working within the assisting body of the Council; and (iii) the Advisory Council composed of domestic and international experts. It also applies to relevant agencies, organizations, and individuals involved in the operation of the IFC governance structure.

The regulatory scope reflects a comprehensive approach, covering not only senior leadership but also operational staff and external advisors, thereby ensuring institutional coherence in the management of the IFC.

Principles of Implementation
The Decree requires that all policies be implemented in compliance with Vietnamese law and consistent with international treaties to which Vietnam is a party. It also introduces performance-based management mechanisms, whereby recruitment, evaluation, and remuneration of personnel in the assisting and advisory bodies are determined under internal regulations issued by the Executive Council.

Notably, public officials seconded to the assisting body retain their existing salary and allowances, and their service time is counted continuously for statutory benefits. Funding for the implementation of the Decree is sourced from the state budget and other lawful sources, with allocations incorporated into the Government Office’s budget estimates.

Remuneration Regime for the Executive Council
A central feature of the Decree is the introduction of differentiated remuneration mechanisms designed to attract high-calibre leadership:

• Part-time leadership: The Chairperson, Vice-Chairpersons, and members serving on a concurrent basis are entitled to an additional allowance equivalent to 50% of their current salary. This allowance is excluded from the calculation base for compulsory social and health insurance contributions.
• Full-time Chairperson: The Chairperson serving on a full-time basis continues to receive existing salary and allowances and is granted an additional monthly allowance equal to 80% of the current salary. The position also benefits from enhanced entitlements, including bonuses, housing, transportation, healthcare, annual leave, and other working conditions aligned with special high-level appointments under Vietnamese law.
• Full-time members: Members working on a full-time basis are afforded remuneration policies comparable to heads of the assisting body, reflecting an elevated status within the administrative hierarchy.

Policies for Supporting Staff and Advisors
The Decree further establishes a flexible and performance-oriented compensation regime for staff within the assisting body. In addition to statutory salaries and allowances, personnel may receive supplementary income of up to 80%, and in exceptional cases up to 150% of their base salary, depending on performance and capability.

For advisory experts, particularly in finance and legal fields, remuneration is determined through contractual arrangements, allowing for market-based compensation. The Decree also provides pathways for long-term engagement, including potential integration into the civil service system with preferential allowances.

Policy Significance
Decree No. 92/2026/ND-CP represents a significant departure from traditional public-sector compensation structures in Vietnam. By introducing flexible, performance-linked, and internationally benchmarked remuneration policies, the Government aims to enhance the attractiveness of the IFC and secure high-quality human resources.

The Decree also reinforces institutional autonomy in personnel management, empowering the Executive Council to design internal regulations tailored to operational needs. This approach aligns with global practices observed in leading international financial centres, where governance bodies are granted substantial discretion to recruit and retain talent.

Overall, Decree No. 92/2026/ND-CP establishes a specialized legal framework to support the governance and staffing of Vietnam’s International Financial Centre. Its emphasis on competitive remuneration, institutional flexibility, and alignment with international standards underscores Vietnam’s strategic commitment to positioning the IFC as a regional and global financial hub.

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