Vietnam is ready to act as a bridge to promote relations between Luxembourg and ASEAN; and hopes that Luxembourg will continue to support strengthening Vietnam-EU relations and EU-ASEAN relations…
According to VNA, on the morning of October 12, at the Government headquarters, Prime Minister Le Minh Hung received Luxembourg Finance Minister Gilles Roth, who is visiting Vietnam.
Prime Minister Le Minh Hung welcomed the visit, which follows high-level meetings and contacts between members of the two governments, contributing to strengthening connectivity and promoting economic , trade, and investment relations between Vietnam and Luxembourg.
The Prime Minister highly appreciated the fact that the two Ministries of Finance completed negotiations and officially signed the Memorandum of Understanding on cooperation in the field of economic and financial cooperation, further deepening the framework of the Strategic Partnership on Green Finance established during the visit of the Prime Minister of Luxembourg to Vietnam in 2023.
Vietnam highly appreciates Luxembourg’s role in the region and the world, especially its strengths and potential in green finance, science and technology , and innovation – areas where Vietnam has a high need and priority for expanding cooperation. Vietnam welcomes Luxembourg’s increasing interest in Southeast Asia; is pleased with the positive developments in bilateral relations; and sincerely thanks Luxembourg for its support and assistance to Vietnam in the past.
The Prime Minister acknowledged the investment activities of Luxembourg businesses in Vietnam, noting that although the number is still modest, the projects are large in scale and focus on sectors that Vietnam is interested in promoting, including information and communication, processing and manufacturing industries, etc.
In his briefing on the key aspects of Vietnam’s socio-economic situation, Prime Minister Le Minh Hung stated that Vietnam is a rapidly growing economy aiming for double-digit growth on a solid macroeconomic foundation. With a significant need for capital, Vietnam is actively mobilizing resources for development based on science , technology, innovation, and high-quality human resources, thereby increasing productivity, quality, and competitiveness of the economy.
Vietnam will continue to improve its legal framework in accordance with international practices, ensuring openness, transparency, and predictability to strengthen the confidence of foreign investors. In the future, Vietnam will continue to be an attractive destination for foreign investors in general, including those from Luxembourg.
To further promote cooperation between the two sides, the Prime Minister proposed that the two sides coordinate the substantive implementation of the 2023 Strategic Partnership Framework on Green Finance, the recently signed Memorandum of Cooperation between the two Ministries of Finance, and the Protocol signed by the two sides in 2020 on cooperation in the finance and banking sector; specifically, concretizing these into concrete action programs, prioritizing sustainable finance, capital markets, fund management, fintech, training and capacity building, and management and supervision of the finance and banking sector.
Furthermore, Luxembourg aims to strengthen capital flows from Luxembourg and Europe to Vietnam; it encourages investment funds, financial institutions, and businesses to increase long-term capital allocation to Vietnam, especially in key strategic infrastructure sectors, renewable energy, technology, logistics, fintech, cryptocurrencies, innovation, green economy, and green cities. The Luxembourg government supports Vietnam in developing green financial instruments and mobilizing capital for green transformation and sustainable finance through the Luxembourg Financial Technology Transfer Agency.
The Prime Minister also proposed strengthening cooperation and support for Vietnam in building and developing Vietnam’s International Financial Center; Luxembourg should share its experience in institution building, fund management, asset management, green finance and financial supervision, support human resource training, connect Luxembourg financial institutions with the ecosystem of Vietnam’s International Financial Center, and encourage these organizations to participate from the initial operational phase.
In addition, both sides will continue to strengthen business connections and promote investment; Luxembourg will continue to support and encourage the remaining EU member states to soon complete the ratification of the Vietnam-EU Investment Protection Agreement (EVIPA), further concretize the content of the Vietnam-EU Comprehensive Strategic Partnership, promote cooperation in strategic infrastructure, minerals, etc., and cooperate with the European Investment Bank.
The Prime Minister proposed that the two countries continue to coordinate closely in multilateral forums and within the framework of ASEAN-EU relations; jointly promote green growth, sustainable finance, and respond to global challenges, especially climate change and international economic and financial volatility. Vietnam is ready to act as a bridge to promote relations between Luxembourg and ASEAN; and hopes that Luxembourg will continue to support strengthening Vietnam-EU relations and EU-ASEAN relations.
Conveying greetings, best wishes for good health, and an invitation for the Prime Minister of Luxembourg to visit Vietnam at a suitable time, the Prime Minister expressed confidence that the Minister’s visit would create new momentum for Vietnam-Luxembourg relations, especially in developing cooperation in the fields of investment and finance in a more substantive and effective manner.
Luxembourg’s Finance Minister Gilles Roth thanked the Prime Minister for taking the time to meet; he expressed hope that the visit would be a new beginning in the partnership between the two countries. He stated that Luxembourg, though small in area, is located in the heart of Europe, possesses a major financial center and a wide-ranging global network of financial and banking cooperation, as well as large asset management funds. The country can support Vietnam through cooperation from its financial centers, investment funds, green finance cooperation, and other areas, as well as strengthening relations with the EU.
Highly appreciating Vietnam’s strong economic growth, he suggested that the two sides could continue to promote relations in various fields, especially in legislation, human resource training, finance and banking, and mobilizing private capital, with specific action plans. He affirmed that he would continue to strive to contribute to deepening cooperation between the two countries in the areas and fields mentioned by the Prime Minister, particularly cooperation in securities, bond issuance, transportation infrastructure, digital finance, and blockchain.
Reportedly, as of September 2026, Luxembourg has 68 active FDI projects in Vietnam with a total registered capital of approximately US$2.79 billion, ranking 19th out of 154 countries and territories investing in Vietnam and 4th in the EU; the average capital size is approximately US$41 million per project, about 3.5 times the overall average.
