Create the most favorable conditions for German enterprises to participate in building and investing in the International Financial Center in Vietnam.

Permanent Deputy Prime Minister Nguyen Hoa Binh attends the Seminar on developing financial markets in Vietnam - Photo: VGP/Nguyen Hoang

Continuing the program of visiting and working in Germany, on the afternoon of March 24 (local time), Permanent Deputy Prime Minister Nguyen Hoa Binh attended the Seminar on developing financial markets in Vietnam co-organized by the Ministry of Finance of Vietnam, the Embassy of Vietnam in Germany and the Consulate General of Vietnam in Frankfurt.

Attending the seminar were leaders of ministries, sectors and localities participating in the working delegation of the Permanent Deputy Prime Minister, representatives of the German Business Association - Asia-Pacific, the German Federal Trade and Investment Organization and leaders of about 35 banks, financial funds, investment funds, associations and enterprises in the field of international finance in Germany.

Welcoming leaders of German financial institutions, corporations, businesses and experts to the seminar, Deputy Prime Minister Nguyen Hoa Binh assessed that the speakers' opinions had made many noteworthy recommendations and suggestions for Vietnam.

According to the First Deputy Prime Minister, in the coming time, Vietnam is determined to make a breakthrough in economic development. Therefore, Vietnam is studying many measures to promote growth; including building and operating a financial market, creating a favorable, open, attractive and prestigious environment for foreign investors; at the same time, there are solutions such as drastically cutting administrative procedures, especially administrative procedures for enterprises; perfecting the legal system, creating a transparent, clear, predictable legal corridor in line with international standards; perfecting infrastructure such as transport infrastructure, energy infrastructure, digital infrastructure...

Deputy Prime Minister Nguyen Hoa Binh called on German experts and businesses to join Vietnam and become the first foreign investors present at Vietnam's international financial center - Photo: VGP/Nguyen Hoang

The First Deputy Prime Minister proposed that German experts and enterprises come to Vietnam to participate in building the financial center as well as receiving high-quality Vietnamese personnel to train and learn how to operate the financial center; called on German experts and enterprises to accompany Vietnam, becoming the first foreign investors present in Vietnam's international financial center.

Speaking at the seminar, Deputy Minister of Finance Nguyen Thi Bich Ngoc announced that Vietnam decided to build an international financial market in Vietnam to promote a strong transformation process to become a dynamic economy, attract international investment capital and participate more deeply in the global financial value chain, making Vietnam an important link in the world economy.

Deputy Minister Nguyen Thi Bich Ngoc affirmed that Vietnam is determined to build a financial market that meets international standards, is transparent, effective, has a solid legal foundation, highly qualified human resources, applies advanced technology, has a safe and sustainable investment environment, and contributes to connecting ASEAN with world financial markets.

With that spirit, Vietnam hopes to receive profound contributions from financial corporations and enterprises in the world in general and in Germany in particular, to help Vietnam succeed in building and operating the international financial market.

Deputy Minister of Finance Nguyen Thi Bich Ngoc speaks at the seminar - Photo: VGP/Nguyen Hoang

At the seminar, representatives of German organizations, corporations and enterprises shared many experiences in developing the financial market; the importance of perfecting institutions and models of financial market management agencies; proposing policies to attract investors to the financial market; policies to develop related ecosystems such as fintech ecosystem, green finance, sustainable finance and making recommendations for developing Vietnam's financial market.

The speakers all assessed that Vietnam has achieved impressive successes in economic development and that the Vietnam-Germany relationship is developing very well, especially in the economic and trade fields. The speakers highly appreciated Vietnam's decision to build an international financial market, were impressed with Vietnam's comprehensive and innovative approach, and also believed that the delegation led by Deputy Prime Minister Nguyen Hoa Binh to visit London, Luxembourg and Frankfurt, the three major financial markets in the world, was a wise choice, which could help Vietnam collect valuable information and experience for building a financial market. The speakers wished to continue to contribute and participate more deeply in building the Vietnamese financial market.

On the Vietnamese side, representatives of ministries and sectors expressed their appreciation for the contributions of experts and businesses and affirmed that they always welcome and will create the most favorable conditions for German businesses to participate in building the international financial market in Vietnam.

At the end of the seminar, Permanent Deputy Prime Minister Nguyen Hoa Binh witnessed the signing ceremony of two Memorandums of Cooperation between the Association of Young Vietnamese Entrepreneurs in Europe, the German Association of Small and Medium Enterprises and the Academy of Posts and Telecommunications.

Nguyen Hoang

Source: https://baochinhphu.vn/tao-dieu-kien-thuan-loi-nhat-cho-cac-doanh-nghiep-duc-tham-gia-xay-dung-dau-tu-vao-trung-tam-tai-chinh-quoc-te-tai-viet-nam-102250325054131092.htm