On the evening of March 16, 2025 (local time), during his official visit to the United Kingdom, Deputy Prime Minister Nguyแป
n Hรฒa Bรฌnh met with officials and staff of the Vietnamese Embassy in the UK and members of the Vietnamese Intellectual Society in the UK & Ireland (VIS). This event underscored the Vietnamese governmentโs strong commitment to engaging with the Overseas Vietnamese community and highlighted VIS’s significant contributions to Vietnamโs socio-economic development.
The meeting commenced with a report by Professor Nguyen Xuan Huan, Middlesex University, President of VIS. Founded in 2020 with the support of the Vietnamese Embassy, VIS has grown rapidly, bringing together more than 200 members from over 60 universities, including 15 professors and 40 associate professors. The association has organized numerous impactful events to foster collaboration between Vietnam and the UK, particularly in education, training, science, and technology.
Deputy Prime Minister Nguyen Hoa Binh commended VIS for its valuable contributions and emphasized the strategic partnership between Vietnam and the UK. He highlighted that the UK remains one of Vietnamโs key economic, trade, and investment partners in Europe. The purpose of his visit is to further strengthen this partnership and implement the establishment of two international financial centers in Ho Chi Minh City and Da Nang.
The Deputy Prime Minister emphasized that the development of these international financial centers would serve as a catalyst for Vietnamโs economic growth, propelling the country into a new era with the ambition of becoming a developed industrialized nation with an average per capita income of $17,000 per year. He also underscored key objectives such as building an efficient and streamlined scientific framework, expanding development opportunities for localities, enhancing decentralization and delegation of authority, and attracting high-quality human resources.
During the meeting, Professor Dang Viet Anh, University of Manchester, Vice President of VIS, represented the advisory group and financial experts of VIS in presenting a proposal for the establishment of international financial centers in Ho Chi Minh City and Da Nang. He emphasized the importance of learning from global best practices, creating a financial ecosystem that attracts foreign investors, and implementing robust corporate governance mechanisms to ensure sustainable development.
The advisory group of VIS provided several key insights:
โข Associate Professor Ho Quoc Tuan, University of Bristol, proposed both short-term and long-term development strategies for the financial centers.
โข Associate Professor Nguyen Hoai Linh, University of St Andrews, emphasized the importance of selective foreign investment attraction, direct market access, and flexible policies.
โข Professor Nguyen Huy Tam, University of Nottingham, highlighted the critical role of corporate governance in enhancing transparency and investor confidence.
โข Professor Bui Thi Minh Hong, Birmingham City University, advocated for workforce development and the establishment of specialized training centers.
โข Professor Quach Manh Hao, University of Lincoln, focused on leveraging the expertise of overseas Vietnamese intellectuals to foster domestic and international knowledge exchange.
The discussion was dynamic and enriched by valuable contributions from experts and advisors from leading universities, research institutions, and the Bank of England. Key topics included financial sector development, risk management, technological advancements, banking regulations, and financial system governance.
Deputy Prime Minister Nguyen Hoa Binh expressed his hope that VIS would continue to play an active role in shaping Vietnamโs international financial centers, contributing to the countryโs progress toward a prosperous and dynamic future.
