On September 15th, Deputy Prime Minister Nguyen Hoa Binh attended and delivered a speech at the UK-Vietnam High-Level Financial Hub Conference.
Deputy Prime Minister Nguyen Hoa Binh with delegates at the Conference – Photo: VGP/Nhat Bac
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In his welcoming remarks, British Ambassador to Vietnam Ian Frew emphasized that the Conference marks a special occasion, coinciding with the visit of Lord Mayor of the City of London Alastair King and Supreme Court Judge Richard Snowden to Vietnam. This event symbolizes the deepening strategic partnership between the United Kingdom and Vietnam, reflecting the UK’s long-term commitment to supporting Vietnam in developing 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 robust financial infrastructure to support cross-border transactions has never been more critical. Successful models like London demonstrate that international financial hubs can significantly contribute to GDP by attracting investment, technology, and innovation. Vietnam has taken bold and strategic steps in this direction, as evidenced by the National Assembly’s resolution and the Government’s action plan, all underscoring the nation’s political determination and strategic vision to establish the Vietnam International Financial Hub,” stated Ambassador Ian Frew.
With immediate development plans focused 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 lead in capital markets, banking, and commodity trading. Meanwhile, Da Nang, with its strategic location and open spirit, holds great potential to become a pioneer in sustainable finance, green finance, and digital financial services.
Highlighting the UK’s centuries-old expertise in financial services, Ambassador Ian Frew affirmed, “With strong leadership, strategic vision, and extensive international cooperation, Vietnam will soon emerge as a dynamic and attractive financial destination in the region and beyond. Today’s Conference is a testament to the UK’s commitment to supporting Vietnam’s International Financial Hub development. The discussions and presentations will further deepen mutual understanding. I look forward to even closer collaboration between the UK and Vietnam in the financial sector.”
Deputy Prime Minister Nguyen Hoa Binh expressed hope for continued support from the UK and the City of London, particularly in promoting the Vietnam Financial Hub – Photo: VGP/Nguyen Hoang
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Continued partnership with experienced allies is essential
Addressing the Conference, Deputy Prime Minister Nguyen Hoa Binh welcomed the presence of Lord Mayor Alastair King, Supreme Court Judge Richard Snowden, and UK financial experts, business leaders, and investors. He affirmed that the Conference is a step toward realizing the shared commitment to establish the Vietnam International Financial Hub, demonstrating the increasingly effective cooperation between Vietnam and the UK.
Vietnam has set an ambitious goal to become a high-income developed nation by 2045, with a commitment to achieving net-zero emissions. To realize this vision, Vietnam has adopted several key initiatives, including the development of the Vietnam International Financial Hub. Without the support of a financial hub for breakthrough solutions, these initiatives will be challenging to implement.
Deputy Prime Minister Nguyen Hoa Binh noted that a Vietnamese government delegation recently visited the UK. During meetings with British officials, academics, experts, investors, and businesses, there was unanimous praise for Vietnam’s decision to establish an International Financial Hub, recognizing it as a timely and wise move. For years, Vietnam has received significant support from the Tony Blair Institute in formulating policies for the Hub’s development.
The Deputy Prime Minister highlighted that Vietnam’s National Assembly has adopted a resolution to establish financial hubs in Ho Chi Minh City and Da Nang. The Government has an action plan to implement this resolution, with many tasks already underway, including legal framework development, workforce preparation, global infrastructure connectivity, financial security, and dispute resolution mechanisms involving arbitration and courts. Continued collaboration with experienced partners, especially from the UK, is vital for this process.
Emphasizing the City of London’s global reputation as a leading financial center, Deputy Prime Minister Nguyen Hoa Binh expressed hope that Vietnamese leaders from the Ministry of Finance, State Bank, Government Office, Supreme Court, and Ho Chi Minh City and Da Nang authorities would gain practical insights from the Conference. He also urged the UK and the City of London to continue supporting Vietnam, particularly in promoting the Vietnam Financial Hub and attracting London-based investors and resources to Vietnam’s financial market.
Deputy Prime Minister Nguyen Hoa Binh meets with Lord Mayor Alastair King and Conference delegates – Photo: VGP/Nguyen Hoang
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Ready to share expertise to support Vietnam’s financial hub ambitions
At the Conference, Lord Mayor Alastair King highlighted London’s strengths as a global financial leader, with its vast capital markets, skilled workforce, favorable legal environment, and thriving innovation ecosystem. London serves not only as the UK’s economic engine but also as a global financial bridge, hosting over 170 foreign banks.
Today, London serves as a model for other international financial hubs like Singapore and Hong Kong. While competitive, London is also a trusted partner. By learning from London’s model, Vietnam can create high-value jobs, attract international investment, and develop its capital markets—all essential for long-term growth.
“We are ready to share our expertise to support Vietnam in becoming a robust and modern international financial hub. Today’s Conference is crucial for open and frank dialogue between our nations,” affirmed Lord Mayor Alastair King.
Conference delegates from both countries focused on key topics, including resource mobilization for financial hubs, international best practices, the importance of an independent judiciary, skill development, fintech innovation, green finance, investor attraction, and regulatory principles.
– 13:48 15/09/2025
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