Deputy PM Nguyễn Hoà Bình discusses collaboration with Luxembourg on financial centres

Vietnam Seeks Collaboration with Luxembourg to Develop Financial Centers

During a recent working visit to Luxembourg, Permanent Deputy Prime Minister Nguyễn Hoà Bình expressed Vietnam’s interest in collaborating with Luxembourg to develop financial centers in Ho Chi Minh City and Da Nang City. The visit, which took place from March 20 to 22, aimed to learn from Luxembourg’s experience in building financial centers and to seek support in areas such as green finance, fintech management, and crypto assets.

In a meeting with Luxembourg’s Minister of Finance Gilles Roth, Deputy PM Bình highlighted the strategic importance of developing these financial centers as a means to attract resources and boost Vietnam’s economy. Roth, in turn, pledged maximum support and concrete steps to assist Vietnam in this endeavor.

Both parties agreed to work towards signing a memorandum of understanding on developing international financial centers in Vietnam. Luxembourg’s expertise in areas such as banking, insurance, investment funds, and technologies like fintech and AI will be crucial in the development of these centers.

Deputy PM Bình also met with Luxembourg’s Deputy PM and Minister for Foreign Affairs and Foreign Trade Xavier Bettel, who emphasized the close relations between the two countries. The discussions focused on enhancing partnerships in areas such as green finance, green energy, and high technology.

Luxembourg’s support in training human resources and providing expertise in financial supervision and management will be instrumental in Vietnam’s efforts to establish modern financial centers meeting international standards. The visit also included meetings with the Luxembourg Stock Exchange and other financial institutions to explore further cooperation opportunities.

Overall, the collaboration between Vietnam and Luxembourg in developing financial centers is seen as a significant step towards achieving Vietnam’s goal of becoming a developed country by 2045. The exchange of expertise and support from Luxembourg will play a crucial role in this process.
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