Vietnam is always open and creates favorable conditions for Luxembourg enterprises to invest and do business effectively and long-term.

Permanent Deputy Prime Minister Nguyen Hoa Binh and CEO of Luxembourg for Finance (LFF) Tom Theobald - Photo: VGP/Nguyen Hoang

During his visit and work in Luxembourg, on the afternoon of March 20 (local time), Permanent Deputy Prime Minister Nguyen Hoa Binh had a discussion with the Luxembourg for Finance (LFF) and met with Luxembourg businesses operating in the financial sector.

Welcoming the Permanent Deputy Prime Minister to visit LFF, CEO Tom Theobald expressed his honor to be visited by the Deputy Prime Minister and the Vietnamese delegation; highly appreciated Vietnam's rapid development in recent years;

CEO Tom Theobald affirmed that LFF and related businesses are ready to share experiences in building and operating an international financial center, including specific issues such as institutions, legality, public-private partnership mechanisms, and creating connections with entities in the region and around the world.

The Deputy Prime Minister hopes that Luxembourg businesses and experts will share their experience, knowledge and necessary information to build a financial center in Vietnam - Photo: VGP/Nguyen Hoang

Thanking the warm welcome and the presence of many leading financial experts from Luxembourg, Deputy Prime Minister Nguyen Hoa Binh announced Vietnam's major policy in establishing two financial centers in Ho Chi Minh City and Da Nang; affirming that these are very necessary steps for Vietnam's future growth to promote stronger growth of the Vietnamese economy in the coming years.

The Permanent Deputy Prime Minister hopes that businesses and experts from Luxembourg, one of the world's leading successful countries in the financial sector, especially in the field of green financial development, will share their experience, knowledge and necessary information to build a financial center in Vietnam.

At the same time, the Permanent Deputy Prime Minister also called on more than 1,400 members of the Luxembourg for Finance Organization, including many successful and reputable investors, banks, funds, and insurance companies, to invest in Vietnam. Vietnam is always open and creates favorable conditions for Luxembourg enterprises to invest and do business effectively and long-term in Vietnam.

The Permanent Deputy Prime Minister also called on more than 1,400 members of the LFF to invest in Vietnam. Vietnam is always open and creates favorable conditions for Luxembourg enterprises to invest and do business effectively and long-term in Vietnam - Photo: VGP/Nguyen Hoang

At the meeting, members of the Vietnamese delegation and representatives of Luxembourg enterprises discussed important issues in building and developing an international financial center, developing sustainable finance, green finance, digital asset management, crypto assets, and developing the banking system in Vietnam.

Luxembourg businesses expressed their confidence in the development potential of the Vietnamese economy, a dynamic economy with a large domestic market; affirmed their great interest in participating in the construction and operation of an international financial center in Vietnam and expected that on the basis of existing agreements and cooperation, the two sides will continue to strengthen exchanges and expand cooperation in new fields.

Luxembourg for Finance (LFF), established in 2008, is a financial development agency established on the basis of a public-private partnership between the Luxembourg Government and the Luxembourg Finance Industry Federation (PROFIL).

The main objective of the LFF is to promote the development and diversification of Luxembourg's financial services sector, and to connect international investors with the wide range of financial services that Luxembourg offers, such as investment funds, asset management, capital market activities and advisory services.

Nguyen Hoang