Roundtable on building financial centers in Vietnam held in Germany

A roundtable on the building of financial centers in Vietnam was held in Frankfurt on March 24 as part of the working visit to Germany by Permanent Deputy Prime Minister Nguyen Hoa Binh.

The event drew the participation of leaders of several Vietnamese ministries, sectors and localities; representatives from the German Asian-Pacific Business Association and the German federal trade and investment organization, along with leaders of 35 banks, financial funds, investment funds, associations, and companies operating in the international financial sector in Germany.

Addressing the event, Mr. Binh proposed German businesses to support Vietnam in building the financial centers, as well as to recruit high-quality personnel from Vietnam to train on how to operate such centers.

He also called on them to join Vietnam and become the first foreign investors to establish a presence at Vietnam's international financial center.

Vietnam is studying various measures to promote growth, including the establishment and operation of financial centers, creating a favorable, transparent, attractive, and reputable environment for foreign investors, he said.

It is also taking various solutions such as significantly reducing administrative procedures, especially those related to businesses; perfecting the legal system to create a transparent, clear legal framework that meets international standards; and improving infrastructure, including transportation, energy, and digital infrastructure, he added.