Ho Chi Minh City encourages Luxembourg businesses to expand their investment and business activities in the city, especially in the fields of finance, high technology, green economy, and infrastructure.
According to the Ho Chi Minh City People’s Committee, today, October 13th, Vice Chairman of the City People’s Committee Truong Minh Huy Vu received Mr. Gilles Roth, Minister of Finance of the Grand Duchy of Luxembourg.
Luxembourg currently manages assets worth over 9 trillion Euros and is a leading international financial center.
The Vice Chairman of the People’s Committee of Ho Chi Minh City expressed his hope that Luxembourg would share its experience in institution building, fund management, asset management, green finance, and financial supervision; support human resource training; and connect Luxembourg’s financial institutions with the financial center’s ecosystem.
Ho Chi Minh City leaders also encouraged Luxembourg businesses to expand their investment and business activities in Ho Chi Minh City, especially in the fields of finance, high technology, green economy , and infrastructure. The city is ready to cooperate with Luxembourg investment promotion agencies and business organizations to organize investment networking activities, introduce suitable projects, and support investors in accessing information and contact points in the city.
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| Representatives of the Ho Chi Minh City People’s Committee pose for a photo with the Luxembourg delegation. |
The Luxembourg Finance Minister pledged to support Ho Chi Minh City in examining whether the current legal framework of the Vietnam International Finance Corporation (VIFC) complies with common European or international regulations and standards. Based on this examination, the delegation will provide feedback to Vietnam so that it can improve its legal regulations to ensure compliance with international standards. Compliance with these regulations is a mandatory condition for the city’s participation in the international financial union.
To attract green finance and private equity into infrastructure projects, the Luxembourg Finance Minister proposed that experts from both sides exchange information through in-person or online meetings to provide legal support and research ways to facilitate bond issuance for both the Vietnamese and European markets.
This bond issuance will help Vietnam access investment capital from Europe. Newly established Long-Term Investment Funds (ELTIFs) in Luxembourg can invest in large, long-term projects such as public transport and solar energy in Vietnam.
