Hanoi (VNA) – Vietnam and Luxembourg have agreed to strengthen cooperation in capital markets, green finance and investment funds to attract more international capital to Vietnam and support its economic growth goals.
At a working session in Hanoi on October 12, Vietnamese Minister of Finance Ngo Van Tuan and his Luxembourg counterpart Gilles Roth discussed economic and financial developments, policy orientations and ways to expand bilateral cooperation.
Tuan highlighted the long-standing and effective cooperation between the two countries, particularly following high-level visits by their Prime Ministers. Luxembourg has provided practical support for Vietnam in developing capital markets and green finance, as well as improving supervisory capacity and information disclosure.
Briefing his counterpart on Vietnam’s socio-economic performance, he said the country’s gross domestic product (GDP) grew 9.01% in the first nine months of 2026, putting it on track to achieve its annual growth target of at least 10%. Total trade reached 888.02 billion USD, up 30.4% year-on-year, while disbursed foreign direct investment stood at 21.07 billion USD, the highest level in five years.
He stressed that achieving annual growth of at least 10% over the coming decade would require substantial resources for development investment, particularly through international investment funds – a strength of Luxembourg.
Roth shared Luxembourg’s experience in maintaining fiscal discipline, managing public debt and preserving its AAA credit rating. He also discussed financial policy priorities within the European Union (EU), including issues considered by the Economic and Financial Affairs Council (ECOFIN) and the Eurogroup.
Despite its small size, Luxembourg manages more than 9 trillion EUR in assets and ranks among the world’s leading international financial centres, he noted.
The two sides agreed to promote stronger links in capital markets and encourage Luxembourg’s investment funds and financial institutions to expand their long-term investments in Vietnam.
Luxembourg expressed interest in channelling more capital into Vietnam, particularly through alternative investment funds, which mobilise private capital alongside public funding, and European Long-Term Investment Funds (ELTIFs).
Following visits to public transport systems and infrastructure facilities in Hanoi, the Luxembourg delegation identified these as priority areas where Luxembourg could provide financing support.
The two sides also discussed strengthening connections between the Vietnam Stock Exchange (VNX) and the Luxembourg Stock Exchange (LuxSE), particularly in dual listings and information disclosure for green financial instruments. Such cooperation could leverage Luxembourg’s position as a major European financial centre while improving Vietnam’s access to international capital markets and expanding links with the ASEAN region.
Regarding the Vietnam International Financial Centre, Tuan said the country aimed to develop the centre, located in Ho Chi Minh City and Da Nang, into a regional and global hub for green finance.
Vietnam called on Luxembourg to share its experience in developing legal frameworks and financial products and services, including investment and asset management funds and green bonds. It also sought support for workforce training and stronger links with Luxembourg’s green finance ecosystem.
Digital transformation and human resource development are other priorities. The two sides expressed interest in exchanging experience in risk-based supervision, regulatory sandboxes for financial technology (fintech), the EU’s regulatory framework for crypto-assets, and the use of artificial intelligence in financial market management and supervision.
Vietnam’s Ministry of Finance also called on Luxembourg to help connect its financial institutions and investors with the Vietnamese market to mobilise international capital for socio-economic development.
Within the Vietnam-EU framework, Vietnam further urged Luxembourg to continue supporting efforts to encourage the remaining EU member states to ratify the EU-Vietnam Investment Protection Agreement (EVIPA), which would help establish a more favourable legal framework for expanding investment and economic cooperation.
At the meeting, the two ministers signed a memorandum of understanding on cooperation between the finance ministries of the two countries. The agreement provides a framework for sharing knowledge and experience, strengthening institutional capacity and training personnel in areas of mutual interest, including sustainable and green finance, fintech, investment fund management, capital markets, banking services and insurance./.
VNA
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