Jamale Chouaibi, Ambassador of the Morocco Embassy in Việt Nam (on the left side), visits the plant of Q&T Hi-tech Polymer in Hòa Lạc Hi-tech Park on Friday. — Photo courtesy of Q&T

Ly Ly Cao

HÀ NỘI — Việt Nam's emergence as a hub for high-tech currency production has reached new heights, establishing the nation as a key player in delivering comprehensive currency solutions.

This was highlighted during a recent visit by African ambassadors and representatives to the Hòa Lạc Hi-tech Park and Q&T Hi-tech Polymer facilities on Friday.

The National Banknote Printing Plant of Việt Nam (NBPP) and Q&T are transforming the future of currency manufacturing, showcasing Việt Nam’s potential as a partner for countries seeking cost-effective and secure solutions.

Q&T, located in the Hòa Lạc Hi-tech Park, has successfully developed polymer substrates for banknotes, marking a significant advancement that enhances the durability, security, and environmental sustainability of currency.

This innovation complements NBPP's two decades of expertise in polymer technology, enabling Việt Nam to provide comprehensive services that encompass substrate production and high-quality banknote printing.

Nguyễn Đức Cường, chairman of NBPP, emphasised this collaboration, stating: "We can produce all types of notes in the world using polymer, with a capacity of up to five billion pieces annually. This partnership reduces costs and enhances efficiency."

Việt Nam’s expertise offers invaluable solutions for countries grappling with high outsourcing costs and vulnerabilities to counterfeiting.

During his visit, Ambassador Jamale Chouaibi of Morocco noted that many African nations are incurring high expenses to print their currency abroad. “What we saw here today offers the same, if not better, quality at a much lower cost,” he remarked.

Delegates attend a discussion session at Q&T. — Photo courtesy of Q&T

A catalyst for South-South cooperation

The delegation's visit aimed not only to showcase technological capabilities but also to strengthen ties within the Global South. Ambassador Chouaibi highlighted the shared objectives between Morocco and Việt Nam.

"Together, we can become stronger and more prosperous. The potential for collaboration is immense, particularly in tackling challenges like counterfeit currency in Africa,” he stated.

He also informed Việt Nam News that discussions have taken place between the Central Bank of Morocco and the Central Bank of Việt Nam regarding payment issues faced by some Vietnamese enterprises in Africa.

Mozambique’s Ambassador Ilundi Dos Santos echoed this sentiment, proposing that Việt Nam supply both raw materials and printing services for Mozambican currency.

"There is potential for us to collaborate and work on something meaningful here," she said, emphasising Việt Nam’s extensive experience in currency production.

Despite these advancements, challenges remain. As a representative from Q&T noted, the polymer banknote production sector is dominated by a few global players, posing significant barriers for smaller nations.

However, Việt Nam’s success in overcoming these obstacles sets a precedent for others. By sharing its technology, Việt Nam paves the way for countries to attain greater self-reliance in currency production.

“Our slogan, ‘Together to Be Better,’ encapsulates our vision of a fairer world. We are eager to share our technology and expertise to foster international collaboration in polymer banknote production,” stated Q&T's representative.

This philosophy not only empowers nations to modernise their monetary systems but also promotes sustainability by reducing dependence on foreign suppliers.

The involvement of Southern African nations in this collaboration holds particular promise. Vuyiswa Tulelo, South Africa's Ambassador to Việt Nam, underscored the broader implications of Q&T’s technology.

"This goes beyond printing money; it’s about the security, integrity, and identity of nations. South-South relationships are critical, and Q&T’s work illustrates the transformative potential of such partnerships," she remarked.

Việt Nam’s ability to provide full-package services—from polymer substrate production to high-quality printing—positions it as an essential partner for African nations and beyond.

This partnership model signifies not only a technological achievement but also a milestone of South-South cooperation.

"Together, we can become stronger, brighter, and more prosperous,” Ambassador Chouaibi concluded. — VNS