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| A view of the forum promoting investment in the Vietnam International Financial Centre (VIFC), held in New York on March 23__Photo: VNA |
Standing Deputy Prime Minister Nguyen Hoa Binh on March 23 visited and held working sessions with NASDAQ and the New York Stock Exchange (NYSE), and attended a forum promoting investment in the Vietnam International Financial Centre (VIFC).
At a working session with NASDAQ, Binh expressed his hope that the exchange would become a key partner in the development of the VIFC. He proposed enhancing policy dialogue to help refine Vietnam’s capital markets, alongside cooperation on listing standards, technology development, governance capacity and human resource training for the country’s stock market and the VIFC.
NASDAQ described Vietnam as a fast-growing economy with significant opportunities for cooperation and showed its readiness to support Vietnamese companies seeking access to US capital markets, including potential listings on the NASDAQ exchange.
At a meeting with the NYSE, Chris Taylor, Vice President of Listings and Services, expressed his hope that Vietnamese firms would soon list on the exchange and underlined the establishment of the VIFC as an important step in its financial development strategy.
Binh called on the NYSE to share experience in building and operating an international exchange, particularly in applying digital technologies to market management and supervision, attracting institutional investment flows, and dispute resolution mechanisms aligned with global standards. He also suggested establishing regular coordination mechanisms between relevant Vietnamese agencies and the NYSE.
The NYSE, for its part, proposed cooperation in areas such as sharing market data, enhancing information exchange and policy dialogue, as well as boosting stronger links with Vietnam’s domestic exchanges.
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| Standing Deputy Prime Minister Nguyen Hoa Binh speaks at the forum promoting investment in the Vietnam International Financial Centre (VIFC), held in New York on March 23__Photo: VNA |
Meanwhile, the investment promotion forum, organised by Warburg Pincus in coordination with the VIFC in Ho Chi Minh City and the Permanent Mission of Vietnam to the United Nations, drew more than 100 major US corporations, investment funds and financial institutions.
Addressing the forum, the Deputy PM stressed that the VIFC represents a strategic breakthrough for Vietnam, expected to boost productivity, modernise the growth model and advance national development goals in the new period.
He called on US businesses and investors to partner with Vietnam in building and operating the centre, particularly in developing specialised financial products and services that could give the hub a distinct competitive edge and position it as an important node in the global financial network. He also urged US investors to act as pioneers in attracting other major US capital to the project.
US companies and investment funds described Vietnam as a top priority in the Association of Southeast Asian Nations (ASEAN), commending the government’s determination to implement major policies swiftly while noting its openness to business feedback. They expressed a desire for more frequent and in-depth consultation during policy formulation.
Financial institutions also recommended upgrading market infrastructure to international standards, further improving foreign ownership rules, refining IPO regulations for technology firms, developing infrastructure investment funds, ensuring policy stability and strengthening investor consultation mechanisms.
On the sidelines of the forum, Binh met Christopher Turner, Managing Director at Warburg Pincus, who affirmed the firm’s strong interest in Vietnam due to its high growth potential, dynamic start-up ecosystem and opportunities in the technology sector. With more than six decades of experience, the fund expressed its readiness to support Vietnam’s capital market development and participate in the VIFC.
Earlier the same day, Binh also visited the headquarters of the Permanent Mission of Vietnam to the United Nations and held a working session with Vietnamese representative agencies in New York.- (VNA/VLLF)
