(NLDO) - Fintech technology and artificial intelligence will be applied in the process of forming an international financial center in Ho Chi Minh City...
This is the opinion shared by Mr. Truong Minh Huy Vu, Director of the Ho Chi Minh City Institute for Development Studies (HIDS), at the scientific workshop "Artificial Intelligence (AI) and green finance for sustainable development" chaired by HIDS, in coordination with the Ho Chi Minh City Department of Information and Communications, and the Friedrich Naumann Foundation for Freedom (FNF) on the afternoon of December 5.
According to Mr. Truong Minh Huy Vu, the Politburo has recently approved the project to establish an international financial center in Ho Chi Minh City and a regional financial center in Da Nang. In particular, the international financial center in Ho Chi Minh City will be researched based on previous super models, from existing financial centers such as London, New York, Frankfurt; recent financial centers such as Singapore, Hong Kong or emerging financial centers with special policy mechanisms such as Dubai...
The project to establish an international financial center in Ho Chi Minh City has just been approved by the Politburo. Photo: Tan Thanh
"We will choose a model with a suitable perspective in Vietnam and form accompanying policies. In particular, the application of fintech and AI technology in the international financial center of Ho Chi Minh City is a very important issue. In fact, Vietnam has applied it in a number of areas such as the testing mechanism (sandbox) in peer-to-peer lending (P2P Lending); applying AI to credit assessment, credit scoring; applying AI to startups in Ho Chi Minh City" - Dr. Vu said.
With green finance, how to mobilize resources for implementation? According to experts, technology plays an indispensable role in developing green finance, creating innovative solutions to increase efficiency and minimize risks. Green finance is an important factor in the development of an international financial center. Currently, Ho Chi Minh City has a number of funds for green transformation and climate change towards the goal of Net Zero. Ho Chi Minh City's transportation will switch to electric buses...
From an expert's perspective, Mr. Ludwig Graf Westarp, Vice President of the Vietnam - Germany Association, said that to develop an international financial center, the challenge is how Ho Chi Minh City can compete with other financial centers like Dubai? The city also needs a lot of time to build this center, how to have a certain competitive advantage.
"Promoting green finance and sustainable development of Vietnam's economy is necessary, especially in the context of Ho Chi Minh City and Hanoi being under pressure from air pollution and flooding. If green finance investment is appropriate and AI is used to accelerate this process, it will contribute to promoting the development of an international financial center," said Mr. Ludwig Graf Westarp.
Source: https://nld.com.vn/ung-dung-fintech-va-ai-trong-xay-trung-tam-tai-chinh-quoc-te-tp-hcm-196241205200555997.htm
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