During the time from 16 to 25 March, 2025, Deputy Governor Pham Tien Dzung of the State Bank of Vietnam (SBV) joined the Vietnamese Delegation headed by First Deputy Prime Minister (DPM) Nguyen Hoa Binh visiting the UK, Luxembourg and Germany. The purpose of the Delegation was to learn the experience in building the international financial centers (IFCs) in those countries.
DPM Nguyen Hoa Binh and the Vietnamese Delegation take a photo with the representatives of the VIS
On 17 and 18 March, 2025, the Vietnamese Delegation had a visit to London’s Financial Districts. On this occasion, the SBV delegation led by Deputy Governor Pham Tien Dzung also had bilateral meetings with its counterpartners in the banking sector to learn more in-depth about their experience in developing specific policies related to the banking sector at the financial districts.
Within the framework of the working visit, the Vietnamese Delegation led by the Deputy Prime Minister also had discussion sessions on the financial centers with the Vietnamese Intellectual Society in the UK and Ireland (VIS), the CEO of Standard Chartered Bank, and participated in the Seminar on the Development of Vietnam's International Financial Center,...
At the meetings, DPM Nguyen Hoa Binh shared that Vietnam expects that the development of two international financial centers in Ho Chi Minh City and Da Nang would be a breakthrough in creating new growth drivers, helping Vietnam’s economy to integrate more deeply in the global value chains. The DPM expressed his hope that international organizations, commercial banks, businesses and financial experts would make positive and long-term contributions to the development of Vietnam's financial centers.
Deputy Governor Nguyen Hoa Binh and the Vietnamese delegation meet Standard Chartered Bank
During the activities led by the SBV Deputy Governor, the SBV delegation’s key interest was the experience in building and developing the international financial centers from different aspects: the perspectives of the authorities (the Bank of England), the practical operational situation of the financial institutions (HSBC Group),...; thereby, the delegation had developed a multi-dimensional, more comprehensive and realistic view of the best international practices in the process of developing the financial centers, especially the experience in building a solid legal foundation for managing the banking operations in a financial center.
Deputy Governor Pham Tien Dzung meets representatives of the BOE
Sharing information with the counterpartners, the SBV Deputy Governor said that in the banking sector, implementing the policy of the Government, the SBV has been reviewing thoroughly the specific legal and policy changes, aiming at creating a favorable business environment, attracting reputable financial institutions and international investors, and building an attractive and healthy financial ecosystem.
The international experts suggested that Vietnam build its financial centers in accordance with the country's development situation. In this process, Vietnam could learn from the models in other emerging market economies sharing similarities with the Vietnamese economy, including China, India, etc.
DPM Nguyen Hoa Binh’s working visit has contributed to affirming the Government's commitment to promoting the development of the financial sector, creating a solid foundation for Vietnam to build a reputable international financial center.
HY