During a meeting with Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son on February 12, Bahrain’s Minister of Finance and National Economy, Mr. Shaikh Salman bin Khalifa Al Khalifa, stated that he will instruct his country's investment funds and relevant ministries to support Vietnam in establishing and developing financial centers in Ho Chi Minh City and Da Nang.

At the meeting,  which took place on the sidelines of the 2025 World Government Summit (WGS 2025) in the United Arab Emirates (UAE), both sides also agreed to expedite negotiations and sign investment protection agreements as well as a double taxation avoidance treaty.

Under Vietnam’s plan, international and regional financial centers in Ho Chi Minh City and Da Nang, respectively, are set to be established and operational by 2025. These centers aim to position Vietnam as a key financial hub in the region and globally, serving as a major driver for the country’s goal of annual double-digit economic growth rate in the 2026-2030 period.

During the meeting, Deputy Prime Minister Bui Thanh Son also urged Bahrain to support negotiations for a Vietnam-GCC Free Trade Agreement (FTA) and encouraged Bahraini businesses to explore investment opportunities in Vietnam, particularly in priority sectors such as energy, the Halal industry, digital transformation, and tourism.

"The early signing of economic and trade cooperation agreements will create a favorable legal framework for bilateral cooperation," said Deputy Prime Minister Son.

Bahrain’s Minister of Finance and National Economy expressed his admiration for Vietnam’s recent economic growth and affirmed Bahrain’s commitment to strengthening economic ties with Vietnam. He also pledged Bahrain’s support for Vietnam-GCC trade and investment agreement negotiations and offered Bahrain’s financial services to facilitate the agreement’s implementation in the future.

"Bahrain is actively diversifying its economy and considers Vietnam a top priority investment destination," Minister Shaikh Salman bin Khalifa Al Khalifa stated. He added that Bahrain would soon dispatch an Economic Development Board (EDB) delegation to Vietnam to explore collaboration and investment opportunities.

One of Bahrain’s key interests is financial technology, particularly in providing financial solutions for the telecommunications and aviation industries.

On the same day, Deputy Prime Minister Bui Thanh Son also met with leaders of several UAE-based corporations. He encouraged firms such as Dalam Capital, Gulf Analytica, and Apolonia Capital to support Vietnam in establishing regional and international financial centers, as well as free trade zones. He further proposed that these companies assist Vietnam in developing a legal framework for financial centers and free trade zones while attracting businesses to participate in specific projects.