Vietnamese Minister of Finance Nguyễn Văn Thắng (right) and Lord Mayor of the City of London Alastair King. — VNA/VNS Photo

LONDON — Việt Namese Minister of Finance Nguyễn Văn Thắng has urged London’s financial hub to work closely with HCM City and Đà Nẵng to develop an international financial centre in Việt Nam.

During a working session in London on September 17 morning (local time) with Lord Mayor of the City of London Alastair King, Thắng praised London’s financial market as a preeminent hub in Europe and globally, a status affirmed by international organisations and experts.

Thắng expressed gratitude for the UK’s active role in supporting Việt Nam’s efforts to draft a National Assembly resolution on creating an international financial centre. The City of London, he noted, provided pivotal insights and recommendations to shape the groundwork and development roadmap for this hub.

Under the direction of the Party General Secretary and the Prime Minister, Việt Nam is advancing institutional reforms, building a legal framework and accelerating digital transformation to drive economic breakthroughs, he said.

According to him, the Vietnamese legislature already issued the Resolution No. 222 greenlighting international financial centre in HCM City and Đà Nẵng, set to launch in December 2025. The legal framework draws heavily on global models, including that of London.

Thắng thanked London for its expertise and collaboration, urging deeper partnerships in adopting common law systems, training financial talent, and finance. He invited UK investors and financial institutions to expand their footprint in Việt Nam to bolster its stock market classification and fuel economic growth.

Lord Mayor King praised Việt Nam’s resolve, consistency and close coordination in pursuing the financial centre, stressing the City of London’s readiness to share expertise and collaborate, particularly through TheCityUK. He welcomed Thắng’s proposal to leverage the UK’s centuries-old common law system to cut costs and streamline dispute settlement, and pledged to connect Việt Nam with partners to train and nurture financial talent.

He also voiced enthusiasm for exploring cooperation in pension financial products in Việt Nam. — VNS