Deputy Prime Minister Nguyen Hoa Binh visits the Singapore International Arbitration Centre (SIAC) headquarters and meets with its leadership – Photo: VGP/Nguyen Hoang
Reporting to the Deputy Prime Minister on the development and operation of the financial hub, the Monetary Authority of Singapore (MAS) emphasized policies aimed at positioning Singapore within the regional and global financial architecture. These include building a comprehensive financial ecosystem, ensuring a stable and transparent legal framework, and developing a high-quality workforce. Deputy Prime Minister Nguyen Hoa Binh shared Vietnam’s goals and strategies for developing an international financial center, affirming the desire to collaborate with Singapore to attract investment for mutual growth. This partnership aims to enhance ASEAN’s role in the global financial market. He requested MAS to strengthen experience-sharing and connectivity between Vietnam and Singapore’s financial centers in banking, capital markets, and investment funds.
Deputy Prime Minister Nguyen Hoa Binh meets with the leadership of the Singapore International Arbitration Centre (SIAC) – Photo: VGP/Nguyen Hoang
During the meeting with SIAC, Ms. Gloria Lim, CEO, and Mr. Vivekananda Neelakantan, Secretary-General, highlighted the center’s role in Singapore’s financial development. They shared insights on governance, streamlined procedures, and international standards for dispute resolution. Deputy Prime Minister Binh requested SIAC’s support in developing Vietnam’s arbitrator list, including selection criteria and management mechanisms. Both sides agreed to enhance cooperation in establishing Vietnam’s international dispute resolution body.
Deputy Prime Minister Nguyen Hoa Binh meets with the leadership of the Singapore International Arbitration Centre (SIAC) – Photo: VGP/Nguyen Hoang
Mr. Png Cheong Boon, Chairman of the Singapore Economic Development Board (EDB), shared strategies for attracting investment through tax incentives, infrastructure support, and workforce training. EDB emphasized the importance of a conducive investment environment, policy support, and strategic logistics. Deputy Prime Minister Binh proposed strengthening connections between Ho Chi Minh City, Da Nang, and Singapore to promote financial technology and integrate Vietnam’s financial hub into regional networks. Both sides committed to expanding Singapore’s investment in Vietnam, building on the success of 21 VSIP industrial parks.
Deputy Prime Minister Nguyen Hoa Binh meets with Mr. Png Cheong Boon, Chairman of the Singapore Economic Development Board (EDB) – Photo: VGP/Nguyen Hoang
Deputy Prime Minister Nguyen Hoa Binh and Mr. Png Cheong Boon, Chairman of the Singapore Economic Development Board (EDB) – Photo: VGP/Nguyen Hoang
At a business forum with 20 leading Singaporean enterprises, investors praised Vietnam’s decision to establish an international financial center with a favorable investment environment and advanced legal frameworks. They recommended ensuring policy stability and expediting regulations for digital assets and fintech. Deputy Prime Minister Binh encouraged Singaporean investors to expand into areas like green finance, sustainable finance, and digital assets, leveraging Singapore’s strengths and Vietnam’s needs.
Deputy Prime Minister Nguyen Hoa Binh attends a forum with Singaporean businesses and investors – Photo: VGP/Nguyen Hoang
Deputy Prime Minister Nguyen Hoa Binh attends a forum with Singaporean businesses and investors – Photo: VGP/Nguyen Hoang
On January 13, 2026, Deputy Prime Minister Nguyen Hoa Binh will continue meeting with Singaporean leaders, specialized agencies, and investors to strengthen economic ties, particularly between Vietnam and Singapore’s financial centers.
UOB Establishes Headquarters at Vietnam International Financial Center
During Deputy Prime Minister Nguyễn Hòa Bình’s visit to Singapore, UOB Bank announced plans to increase its chartered capital to 10,000 billion VND. The bank is also in the process of constructing its headquarters at the International Financial Center (IFC) in Ho Chi Minh City.
Tax Evasion Charges Added Against Shark Binh
The Hanoi Police Department has filed additional charges of “tax evasion” against Mr. Nguyen Hoa Binh (Shark Binh), Chairman of the Board of Directors of NextTech Corporation, along with two other suspects. They are accused of orchestrating a scheme to conceal revenue, resulting in a loss of nearly 30 billion VND to the state budget.
Crafting a Global Financial Hub: Unlocking Superior Policies and Mechanisms
Industry experts agree that we possess the advantage of learning from the experiences of other nations in establishing and operating international financial centers. However, they caution that without superior mechanisms and policies, such initiatives should not be pursued, as success is unlikely.
Prime Minister and Deputy Prime Ministers Conduct Over 400 Field Visits During 2021-2026 Term
Between 2021 and 2025, the Prime Minister and Deputy Prime Ministers conducted over 400 working trips to local areas and grassroots levels, actively addressing and resolving challenges and obstacles in a timely manner.
Why Do So Many People Still Fall Victim to Fraudulent Crypto Projects, Losing Billions?
Experts strongly advise the public to avoid participating in unlicensed cryptocurrency projects and to disregard advertisements promising “extraordinary profits.”
