31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Vietnam looks for UK support in finalizing financial regulations: NA Chairman
Ngoc Mai 11:48, 2022/07/01
Vietnam and the UK would strengthen cooperation in green finance, and digitalization of the financial sector, with the UK's assistance in providing the required resources for Vietnam to realize its commitments at the COP26.

Vietnam expects to receive UK’s support in finalizing legal frameworks in the field of banking and finance, as well as a performance evaluation system for businesses.

 Chairman of the National Assembly Vuong Dinh Hue and the Acting Mayor of the City of London Peter Estlin. Source: VNA

Chairman of the National Assembly Vuong Dinh Hue expressed his hope during a meeting with the Acting Mayor of the City of London Peter Estlin on June 29 (local time) in the UK’s capital.

At the meeting, Hue highlighted the role of London as one of the world’s largest financial centers in the world, while many UK finance-banking institutions such as Prudential, HSBC, and Standard Chartered have been effectively operating in Vietnam over the years.

In this regard, Hue called for the UK’s support to help transform Ho Chi Minh City into an international financial center.

“Vietnam wants to learn experience from different countries and financial centers to adopt the best practices that are suitable with the country’s characteristics,” Hue said.

In this regard, Hue called for the UK to share its expertise in the capital, finance, and monetary markets with Vietnam.

 Overview of the meeting. 

Acting Mayor Estlin expressed his delight at welcoming Vietnam’s National Assembly Chairman to London’s financial district.

He said the UK is willing to cooperate with Vietnam at different levels, as the Southeast Asian country remains a key partner in the UK-ASEAN relations, expressing his support for the partnership between UK banks and Ho Chi Minh City during the city’s quest to become a financial hub.

Estlin also agreed with Hue’s proposal on cooperation in green finance, digitalization of the financial sector, and providing the required resources for Vietnam to realize its commitments at the COP26.

Both sides also expected closer cooperation between the two sides in legal framework consultation, credit rating, and improving liquidity for businesses, with the immediate priority of resuming exchange activities that have been disrupted by the pandemic and boosting bilateral trade.

RELATED NEWS
TAG: Vietnam UK Vietnam National Assembly vietnam london vietnam cop 26
Other news
18:21, 2022/21/08
Vietnam's positive outlook lures foreign investors back to stock market
The central bank’s flexible management of monetary policy and the return of capital into markets around the world would have positive impacts on Vietnam’s market.
20:42, 2022/42/04
Banking industry urged to complete digital transformation legal framework
The banking industry needs to continue investing in shared payment and credit information infrastructures.
15:40, 2022/40/04
VND remains most stable currency in region: Report
With the internal strength of the currency and the central bank's flexible management, the VND is expected to depreciate by a maximum of 3% in 2022.
13:07, 2022/07/31
Big techs pay Vietnam US$20 million in taxes in three-month period
Vietnam is now among the first four Southeast Asian countries collecting taxes from offshore service providers that currently do not have a representative office in the host country.
10:01, 2022/01/29
Vietnam’s consumer demand for gold surges 11%
The surge in gold demand comes from fears of inflation and the weakness of the Vietnamese dong.
18:06, 2022/06/27
Vietnam’s Q3 GDP growth at 10.8%: Standard Chartered
Standard Chartered economists expect the State Bank of Vietnam (SBV) to keep the policy rate on hold at 4.0% in 2022 to support economic growth and businesses, despite rising inflation.