The discussion was attended by leaders of ministries, sectors, and localities of Vietnam and representatives of the German-Asia Pacific Business Association, the German Trade and Investment (GTAI), as well as leaders of approximately 35 banks, financial funds, investment funds, associations, and international financial enterprises in Germany.

In his speech, Binh emphasized that Vietnam is determined to drive strong economic development, and it therefore is examining various measures to boost growth, including establishing and operating financial centres to create a favourable, open, attractive, and reputable environment for foreign investors.

In addition, he said, it is implementing solutions such as reducing administrative procedures, improving the legal framework to ensure transparency, predictability, and compliance with international standards, and enhancing infrastructure in transportation, energy, and digital sectors.

The Deputy Prime Minister invited German experts and businesses to Vietnam to engage in the development of financial centres and to help train high-quality professionals in financial centre operations. He encouraged them to accompany Vietnam and become the first foreign investors in the country’s international financial centres.

At the gathering, Deputy Minister of Finance Nguyen Thi Bich Ngoc announced that Vietnam has decided to establish international financial centres (in Ho Chi Minh City and Da Nang) to facilitate a strong transformation towards becoming a dynamic economy, attracting international investment flows, and integrating more deeply into the global financial value chain.

The goal is to position Vietnam as a key link in the world economy, she said, adding the government aims to build financial centres that meet international standards.

During the discussion, representatives from German organizations, corporations, and businesses shared extensive experiences in financial market development based on global financial hubs. They emphasized the importance of improving institutions and regulatory frameworks for financial market oversight, proposed policies to attract investors, and discussed the development of related ecosystems such as fintech, green finance, and sustainable finance. They also produced recommendations for Vietnam’s financial market growth.

The speakers acknowledged Vietnam’s remarkable economic achievements and praised the positive development of Vietnam-Germany relations, particularly in economic and trade cooperation. They highly appreciated Vietnam’s decision to establish international financial centres and were impressed by the country’s comprehensive and innovative approach.

The speakers expressed their desire to continue contributing to and participating more actively in the development of Vietnam’s financial market.

Representatives from various ministries and sectors of Vietnam welcomed the recommendations, and affirmed that Vietnam would always facilitate the engagement of German enterprises in building its international financial market.

Also at the end of the roundtable, Deputy Prime Minister Nguyen Hoa Binh witnessed the signing of two cooperation agreements between the Vietnamese Young Entrepreneurs Association in Europe and the German Association of Small and Medium – Sized Businesses, as well as the Vietnam Posts and Telecommunications Institute.

WAIFC willing to engage in Vietnam financial centre project

VOV.VN - Leaders of the World Alliance of International Financial Centers (WAIFC), a non-profit financial association, and German businesses have said they are ready to engage in building international financial centres in Vietnam.