Vietnam has officially urged the United Kingdom and the City of London to bolster their support for the development and promotion of its international financial center (IFC). The call extends to facilitating connections with investors and attracting capital from London to participate in Vietnam's evolving financial market.

Permanent Deputy Prime Minister Nguyen Hoa Binh delivered these remarks at the UK-Vietnam High-level IFC Conference, held in Hanoi on September 15. 

Following the National Assembly's resolution on the development of the IFC in Ho Chi Minh City and Da Nang, and the government's subsequent action program, significant progress has been made across various key tasks. These include the construction of a legal framework, preparation of skilled human resources, establishment of globally connected infrastructure in both cities, ensuring financial security, and setting up efficient dispute settlement mechanisms within the financial centers.

The Permanent Deputy Prime Minister emphasized that this crucial implementation process profoundly requires the sustained assistance of experienced partners, particularly those from the UK.

Highlighting the City of London as one of the world’s foremost and most reputable financial centers, Mr. Binh expressed his optimism that the conference would provide Vietnamese leaders from ministries and sectors, as well as those from Ho Chi Minh City and Da Nang with practical and invaluable insights.

According to British Ambassador to Vietnam Iain Frew, the conference marked a significant milestone in the working visit to Vietnam by Lord Mayor of the City of London Alastair King and Lord Justice Richard Snowden.

The event stands as a symbol of the deepening strategic partnership between the United Kingdom and Vietnam, underscoring the UK’s enduring commitment to supporting Vietnam in its efforts to build a modern, transparent, and globally integrated financial system, the ambassador noted.

He highlighted Vietnam’s ongoing journey toward establishing a globally competitive financial ecosystem. He noted that Ho Chi Minh City, as the nation’s largest economic and financial centre, is poised to lead in key sectors such as capital markets, banking, and commodity trading. Meanwhile, Da Nang—with its strategic location and progressive outlook—holds strong potential to become a frontrunner in sustainable finance, green finance, and digital financial services.

Drawing on the UK’s centuries of expertise in financial services, the UK ambassador  reaffirmed the UK's readiness to accompany Vietnam on this transformative path. He expressed confidence that with visionary leadership, strategic planning, and robust international cooperation, Vietnam will soon emerge as a dynamic and attractive financial destination both regionally and globally.

Lord Mayor Alastair King echoed this sentiment, expressing his willingness to share knowledge and expertise to support Vietnam’s ambition of becoming a strong and modern international financial centre.

During the conference, both sides engaged in candid and constructive discussions on a range of critical topics. These included resource mobilisation; international best practices for International Financial Centres (IFCs); the importance of an independent judicial system within such centres; capacity building and human resource development; fostering innovation in fintech, capital markets, and green finance; and establishing ethical standards and strategic approaches to attract global investors.