First Vietnam Dialogue opens new avenues for Vietnam-Germany financial cooperation

Vietnamese Deputy Prime Minister and Minister of Finance Ho Duc Phoc delivered a video message emphasising the country’s vast potential for development.

Participants at the first Vietnam Dialogue in Frankfurt on November 19. (Photo: VNA)

Vietnam will create the best conditions possible and offer consistent policies to attract foreign investment, the official affirmed. With a commitment to advancing the digital and green economy, high-tech platforms, artificial intelligence (AI), and equitable energy transition, Vietnam is looking forward to the participants' contributions of ideas and investments joining Vietnam in fostering growth in the new era.

Dr Karsten Stroborn, Director General for Markets at Germany’s independent central bank Deutsche Bundesbank, noted the robust growth of the two countries’ relations and their positions as a key trade partner of one another in their respective regions. He expressed his hope that the dialogue would become an annual event, serving as an essential platform to bolster bilateral trade and investment cooperation.

Vietnamese Ambassador to Germany Vu Quang Minh shared his wish that Vietnam could capitalise on domestic and international resources, as well as support from German investors and organisations, in a bid to drive development in the coming era.

Jens Rübbert, Managing Director and Regional Head of Asia/Pacific at Germany’s Landesbank Baden-Württemberg (LBBW) and Chairman of the EU-ASEAN Business Council, praised Vietnam’s impressive growth and steady foreign direct investment (FDI) inflows. He emphasised the trade enhancement role of the EU-Vietnam Free Trade Agreement (EVFTA), effective from 2020, and Vietnam's potential to take advantage of shifting investment flows amid global trade tensions.

Nguyen Phi Lan, Deputy Director General of the Forecasting and Statistics Department at the State Bank of Vietnam (SBV), noted that the central bank has made significant strides in promoting environmentally responsible banking and supporting green investment projects. In the first nine months of 2024, green credit grew at over 22% annually, reaching approximately 650 trillion VND (25.57 billion USD).

Vietnamese financial institutions have increasingly adopted advanced financial tools to support sustainable development, he added.