(MPI) Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc hosted a reception in Hanoi on February 6 for Patrich Hemmer, Ambassador of Luxembourg to Vietnam and Thailand.

At the reception. Photo: MPI

Deputy Minister Ngoc spoke highly of the close coordination between Luxembourg and Vietnamese localities in exchanging experiences in financial market development.

With its experience in green trading platforms as well as Environmental, Social, and Governance (ESG) funds to support green growth objectives, Deputy Minister Ngoc suggested Luxembourg and the Luxembourg for Finance (LFF) to share their experiences with Vietnam in policy planning and appropriate legal frameworks for the construction and operation of regional and international financial centers (IFCs); connecting, mobilizing investment resources, and developing IFCs in Vietnam; and supporting the training and development of human resources in finance.

This cooperation will help Vietnam strengthen its financial capacity to prepare the groundwork and facilitate the development of IFCs, particularly in terms of infrastructure resources, as well as quickly access and attract strategic investors and financial institutions to invest in local IFCs, she emphasized.

The Ministry of Planning and Investment (MPI) affirms its continued close coordination with the relevant Luxembourg agencies and the LFF to further deepen discussions on issues of mutual interest, thereby enhancing the cooperative and friendly relations between Vietnam and Luxembourg.

For his part, Luxembourg Ambassador Patrick Hemmer thanked the MPI for their warm reception, adding that Luxembourg and Vietnam had close cooperation in various areas such as healthcare, science - technology, education and training, and development of human resources in finance.

Patrick expressed his hope to explore and invest in sectors where Vietnam has needs and which are strengths of Luxembourg, and pledged to share experiences with Vietnam in areas related to the development of IFCs, such as infrastructure development, improving the legal environment, and training human resources.

Luxembourg also shared information, practical lessons, and the latest developments at the Luxembourg IFC to build a financial model that serves as an international financial center. The ambassador stated that Luxembourg is ready to accompany and support Vietnam with a commitment to elevate bilateral relations to a new height, especially as the two countries commemorate 50 years of diplomatic relations./.

Bao Linh

Ministry of Planning and Investment