Hope to continue to receive support and companionship from the UK in building and developing the International Financial Center.

(Chinhphu.vn) – Permanent Deputy Prime Minister Nguyen Hoa Binh hopes that the UK and the London Financial Center will continue to support Vietnam, especially in promoting and introducing the international financial center in Vietnam, introducing investors, and attracting resources from London to participate in Vietnam's financial market.

Permanent Deputy Prime Minister Nguyen Hoa Binh attends the UK-Vietnam Summit on financial centers - Photo: VGP/Nguyen Hoang

Permanent Deputy Prime Minister Nguyen Hoa Binh attended and spoke at the UK-Vietnam Summit on financial centers this morning (September 15) in Hanoi .

Attending the Conference on the Vietnamese side were Deputy Head of the Government Office Do Ngoc Huynh; Deputy Minister of Finance Nguyen Duc Tam; Deputy Chief Justice of the Supreme People's Court Nguyen Van Tien; leaders of Ho Chi Minh City and Da Nang City.

On the UK side, there were Mayor of the London Financial District Alastair King; UK Supreme Court Justice Richard Snowden; UK Ambassador to Vietnam Ian Frew; financial experts, business leaders, UK investors...

A vivid symbol of the deepening strategic partnership between the UK and Vietnam

In his welcoming speech at the Conference, British Ambassador to Vietnam Ian Frew emphasized that the Conference is a special event marking the visit and working visit to Vietnam of the Lord Mayor of the City of London Alastair King and the Lord Chief Justice Richard Snowden. At the same time, the Conference is a vivid symbol of the increasingly deepening strategic partnership between the UK and Vietnam, demonstrating the UK's long-term commitment to cooperating and supporting Vietnam in building a modern, transparent and globally integrated financial system.

"As Vietnam continues to integrate deeply into the global economy through major free trade agreements, the need for a strong financial infrastructure to support cross-border transactions is more urgent than ever. Successful models such as London have shown that international financial centers can make a significant contribution to GDP by attracting investment, technology and innovation, and Vietnam has taken bold and strategic steps in this direction. From the National Assembly Resolution passed to the Government's Action Plan, all clearly demonstrate the country's political determination and strategic vision in building an international financial center of Vietnam," said UK Ambassador to Vietnam Ian Frew.

The conference demonstrates the UK's long-term commitment to cooperating to support Vietnam in building a modern, transparent and globally integrated financial system - Photo: VGP/Nguyen Hoang

With its immediate development plan focusing on Ho Chi Minh City and Da Nang, Vietnam is building a globally competitive financial ecosystem. Ho Chi Minh City, as the country’s largest economic and financial center, will take the lead in the fields of capital markets, banking, and commodity trading. Meanwhile, Da Nang, with its strategic location and open-minded spirit, has great potential to become a pioneering center for sustainable finance, green finance, and digital financial services.

Emphasizing that the UK, with its centuries of experience in financial services, will always be ready to accompany Vietnam on this journey, British Ambassador to Vietnam Ian Frew believes: "With strong leadership, strategic vision and extensive international cooperation, Vietnam will soon emerge as a dynamic and attractive financial destination in the region and the world. Today's conference is a testament to the UK's strong commitment to supporting the process of building an international financial center in Vietnam. Today's discussions and speeches will continue to deepen the common understanding between the two sides. I look forward to even closer cooperation between the UK and Vietnam in the financial sector."

We really need the continued support of experienced partners.

Speaking at the opening of the conference, Permanent Deputy Prime Minister Nguyen Hoa Binh welcomed the presence of Mayor of the London Financial District Alastair King; UK Supreme Court Justice Richard Snowden and financial experts, business leaders and investors from the UK; affirming that the conference is a step to realize the commitment of the two sides to jointly build an international financial center in Vietnam; and is a testament to the close and increasingly effective cooperation between Vietnam and the UK.

Permanent Deputy Prime Minister Nguyen Hoa Binh hopes that the UK and the London Financial Centre will continue to support and accompany Vietnam, especially in promoting and introducing the Vietnam Financial Centre - Photo: VGP/Nguyen Hoang

Vietnam has set a very ambitious goal of becoming a high-income developed country by 2045 and committing to zero net emissions. To realize this goal, Vietnam has many policies, including building an international financial center in Vietnam. Without the support of the financial center for Vietnam's breakthrough solutions in the coming time, it will be difficult to implement these policies.

Deputy Prime Minister Nguyen Hoa Binh said that the Vietnamese Government delegation had just paid a working visit to the UK. During the meetings, exchanges and contacts with the UK side, lecturers from leading UK universities, experts, investors and UK businesses all assessed the decision to build an international financial centre in Vietnam as a wise step and decision, which is very necessary at this time. For many years, Vietnam has also received a lot of support from the Tony Blair Institute to help Vietnamese ministries and branches in proposing to build and form a policy to build an international financial centre in Vietnam.

According to Permanent Deputy Prime Minister Nguyen Hoa Binh, the Vietnamese National Assembly has passed a Resolution on building a Financial Center in Ho Chi Minh City and Da Nang. The Government has an action plan to implement the Resolution of the National Assembly. Many tasks have been actively implemented, including building a legal system, preparing human resources, preparing global connectivity infrastructure in the two cities and ensuring financial security, building a dispute resolution agency if any in the Financial Center including arbitration and courts. This implementation process requires the continued support of experienced partners, especially partners from the UK.

Emphasizing that the London Financial Center is one of the world's leading and prestigious financial centers, the First Deputy Prime Minister expressed his hope that from this conference, leaders of Vietnamese ministries and branches such as the Ministry of Finance, the State Bank of Vietnam, the Government Office, the Supreme People's Court and leaders of Ho Chi Minh City and Da Nang will gain practical information. At the same time, he hoped that the UK and the London Financial Center would continue to support and accompany Vietnam, especially in promoting and introducing the Vietnamese Financial Center, introducing investors, and attracting resources from London to participate in Vietnam's financial market.

Permanent Deputy Prime Minister Nguyen Hoa Binh and delegates attending the Conference - Photo: VGP/Nhat Bac

Ready to share experience and expertise to support Vietnam

At the Conference, introducing the strengths of the London International Financial Center as well as the potential for cooperation with Vietnam, Mayor of the London Financial Center Alastair King emphasized: London is one of the world's leading financial service centers with a large capital market, abundant human resources, a favorable legal environment, a developed innovation ecosystem, London is not only the economic driving force of the UK but also a global financial bridge with more than 170 foreign banks headquartered.

Today, London has become a model for other international financial centers such as Singapore and Hong Kong (China). For other international financial centers, London is both a competitor and a reliable partner. If Vietnam learns and references the experience of London's model, it can create high-value jobs, attract international investment, promote capital market development... all of which are essential factors for long-term growth.

Permanent Deputy Prime Minister Nguyen Hoa Binh received Mayor of the London Financial District Alastair King and delegates attending the Conference - Photo: VGP/Nguyen Hoang

"We are ready to share our experience and expertise to support Vietnam on its path to becoming a strong, modern international financial center, and today's conference is very important for the two sides to exchange and have a frank and open dialogue on this content," Mayor of the London Financial District Alastair King affirmed.

At the Conference, delegates from the two countries focused on discussing major issues related to: Creating resources for international financial centers; international practices for financial centers and the importance of an independent court system in international financial centers; developing skills and human resources for international financial centers; promoting innovation in Fintech, capital markets and green finance; principles of conduct and attracting investors to international financial centers;…

Nguyen Hoang

Source: https://baochinhphu.vn/mong-muon-tiep-tuc-nhan-duoc-su-ho-tro-dong-hanh-cua-anh-trong-xay-dung-va-phat-trien-trung-tam-tai-chinh-quoc-te-102250915115655126.htm