Vietnam, Luxembourg step up cooperation to mobilise European investment

The agreement was reached during a meeting in Hanoi on October 12 between Vietnamese Prime Minister Le Minh Hung and Luxembourg Minister of Finance Gilles Roth.

PM Hung welcomed Roth’s visit and highlighted the signing of a memorandum of understanding on economic and financial cooperation between the two countries’ finance ministries which builds on the strategic partnership on green finance established during the Luxembourg Prime Minister’s visit to Vietnam in 2023.

The Vietnamese leader called for the effective implementation of the newly signed cooperation document, as well as the 2023 green finance partnership framework and a 2020 protocol on financial and banking cooperation. He urged both sides to translate these arrangements into concrete action programmes, focusing on sustainable finance, capital markets, fund management, financial technology (fintech), training and capacity-building, and financial-sector supervision.

A key priority is to channel more long-term capital from Luxembourg and Europe into Vietnam, particularly for essential strategic infrastructure, renewable energy, technology, logistics, fintech, digital assets, innovation and green urban development. Luxembourg was also encouraged to promote greater investment by its funds, financial institutions and businesses in the Vietnamese market.

The Luxembourg Government, meanwhile, can support Vietnam in developing green financial instruments and mobilising resources for the green transition and sustainable finance through the Agency for the Transfer of Financial Technology (ATTF).

Cooperation to support Vietnam’s International Financial Centre

The two sides also discussed opportunities to strengthen cooperation in developing Vietnam’s International Financial Centre. Prime Minister Le Minh Hung called on Luxembourg to share its experience in institutional development, fund and asset management, green finance and financial supervision, while supporting human-resource training and connecting Luxembourg’s financial institutions with Vietnam’s emerging financial-centre ecosystem.

The Prime Minister encouraged Luxembourg’s institutions to participate from the early stages of the centre’s operation. He also called for stronger business links and investment promotion, as well as Luxembourg’s continued support for efforts to secure the remaining European Union member states’ ratification of the EU–Vietnam Investment Protection Agreement (EVIPA).

Vietnam stands ready to serve as a bridge between Luxembourg and ASEAN, while seeking Luxembourg’s support for closer Vietnam–EU and EU–ASEAN relations, he told his guest.

Both countries were encouraged to work together on green growth, sustainable finance and global challenges, including climate change and volatility in the international economic and financial environment.

Luxembourg sees opportunities for deeper partnership

Roth, for his part, highlighted Luxembourg’s position at the heart of Europe, its major financial centre and its extensive global financial and banking networks. He said the country could support Vietnam through cooperation between financial centres, investment funds and green-finance initiatives, while helping strengthen ties with the EU.

Welcoming Vietnam’s strong economic growth, the Luxembourg minister expressed support for more practical cooperation in legislation, human-resource development, finance and banking, and the mobilisation of private capital. He also highlighted potential collaboration in securities markets, bond issuance, transport infrastructure, digital finance and blockchain.

As of September 2026, Luxembourg had 68 active foreign direct investment projects in Vietnam, with registered capital of approximately US$2.79 billion, according to Vietnamese Government figures. It ranked 19th among 154 countries and territories investing in Vietnam and fourth among EU member states. Average registered capital stood at around US$41 million per project, approximately 3.5 times the overall average.

The figures underline the potential to build on existing investment ties and expand cooperation into areas that support Vietnam’s development priorities, particularly sustainable finance, strategic infrastructure and the green transition.

Vietnam, Luxembourg to bolster green finance cooperation

VOV.VN - Amid the growing ties between Vietnam and Luxembourg, the working visit of Deputy Prime Minister Nguyen Hoa Binh to the Grand Duchy of Luxembourg is expected to unlock new avenues for cooperation, particularly in green finance and sustainable development.