Citibank urged to support Vietnam’s digital transformation, international payment

At a meeting with Head of International Affairs at Citigroup Ernesto Torres Cantu in Hanoi on October 16, Thang highlighted Vietnam’s goal of achieving average annual GDP growth of at least 10% during 2026–2030. He expressed his appreciation for Citibank’s stable operations in Vietnam and its contributions to corporate banking, trade finance, cash management and community activities.

Thang reaffirmed the Government’s consistent commitment to balancing economic growth with macroeconomic stability. He praised Citibank for maintaining stable, safe and effective operations and complying with Vietnamese law, as well as for its risk management practices.

He also appreciated the bank’s provision of modern financial solutions in corporate banking, trade finance and cash management, along with its community programmes focusing on education and skills development.

As Vietnam and the US continue to advance their Comprehensive Strategic Partnership, Vietnam values the role of long-established US businesses such as Citigroup as a bridge, contributing to attracting high-quality investment and helping Vietnamese enterprises connect with global financial networks, Thang said.

He stressed that the Government of Vietnam always listens to foreign businesses and stands ready to create favourable conditions for major US financial institutions to invest and operate effectively in Vietnam over the long term.

For his part, Cantu thanked Vietnamese authorities for their support, saying it will enable the group to make greater contributions to the country’s development.

He praised the Vietnamese Government’s efforts to improve the business and investment climate, adding that exchanges between Citigroup and Vietnamese regulators have become more open and convenient.

Bringing international investors to Vietnam is one of the group’s missions, he said, affirming its readiness to help Vietnamese businesses access international markets.

Cantu also said Citigroup will work more closely with the Ministry of Finance to improve Vietnam’s sovereign credit rating and strengthen its standing in global financial markets. The group sees considerable opportunities to support the country’s growth ambitions and is exploring financing solutions for Vietnam’s energy sector.

Thang welcomed the proposals, noting that Vietnam aims to mobilise resources from across society, including international financial institutions, to support rapid economic development.

He called on Citibank to share international experience and work with Vietnamese authorities on digital transformation, international payments and solutions to support sustainable business growth. He also encouraged the group to contribute to the development of Vietnam's international financial centre in Ho Chi Minh City and Da Nang.

The deputy PM further urged Citigroup to convey Vietnam’s goodwill and commitment to cooperation to the US Government, helping advance negotiations on a reciprocal, fair and balanced trade agreement for the benefit of businesses and people in both countries.

With Vietnam set to host APEC 2027, Thang invited Citigroup’s senior leaders to attend the APEC CEO Summit and called for close cooperation to ensure the success of the event, which is expected to help attract investment, promote technology transfer and strengthen Vietnam’s economic competitiveness.

Vietnam Airlines secures over US$560 million in strategic investment from Citibank

Vietnam Airlines on April 9 signed a Memorandum of Understanding (MOU) with Citibank, N.A., securing a funding commitment exceeding US$560 million to support its strategic investment initiatives.