Prime Minister Pham Minh Chinh chaired a discussion with representatives of the world’s leading banks and financial investment funds about the potential and opportunities to invest in Vietnam’s financial market, in Davos, Switzerland, on January 17.

The discussion draw the participation of many financial experts and leaders of large financial corporations, including former Swedish Prime Minister Carl Bildt, former German Vice Chancellor Philipp Rösler, Chairman of the Association of Swiss Asset and Wealth Management Banks Pascal Gentinetta, SEB Group Chairman Marcus Wallenberg, Board Member at SIX Swiss Exchange AG Soren Mose, along with representatives of Standard Chartered Bank, HSBC, and Hyosoung Group.

Delegates evaluated Vietnam’s financial market in 2023 and investment opportunities in the coming time; models and experiences in building international financial centers; and investment plans of world financial corporations. They agreed that Vietnam is one of the fastest growing economies in the world and it has great potential to become a financial center of the region and the world.

Representatives of relevant Vietnamese ministries answered delegates’ questions regarding the legal framework for financial market development; anti-money laundering laws; the operation of banking services; a roadmap for building a financial center; infrastructure for financial market development; and stake ownership at Vietnamese credit institutions.

In his address, Prime Minister Pham Minh Chinh called on global corporations and investment funds to share experiences and consult about appropriate development models and solutions to develop a financial center in Vietnam.

He proposed that experts, banks, and financial investment funds support Vietnam in providing policy consultations, promoting entrepreneurship and innovation, restructuring banks, developing infrastructure, and training human resources.

The PM affirmed that the Vietnamese Government always accompanies and creates favourable conditions for foreign investors in general and Swiss investors in particular to do business effectively and sustainably in Vietnam.

To build a financial centre in Vietnam, he said a working group will be established and it will be chaired by former German Vice Chancellor Dr. Philipp Rösler, Vietnamese Minister of Planning and Investment Nguyen Chi Dung, and Chairman of Ho Chi Minh City People’s Committee Phan Van Mai.

VOV