The mission's goal is to promote cooperation between Vietnam and Australia in areas such as technology (Fintech) in finance - banking and education, with a special focus on technology development, digital transformation and human resource training.
Speaking at the meeting, Dr. Nguyen Quoc Hung welcomed the visit of the Austrade mission, and emphasized the strong development of bilateral cooperation between the two countries, especially in the fields of finance, banking, technology and education and training.
Dr. Hung believes that this visit will open up many new cooperation opportunities, promote investment and trade between the two countries, and at the same time enhance the capacity of the Vietnamese finance - banking sector in the current context of the strong digital transformation process.
Meeting view
Introducing the Vietnam Banks Association, Dr. Nguyen Quoc Hung said that VNBA currently has 75 member organizations, divided into 4 groups: Group 1 is banks; Group 2 is consumer finance companies; Group 3 is payment intermediary group; Group 4 is Training and Communication group.
VNBA is responsible for protecting the legitimate rights and interests of member organizations. Member organizations have the right to participate in the activities of the Association such as seminars, workshops, etc. In addition, in the organizational structure of the VNBA Standing Body, there are a number of affiliated organizations, typically: Legal Club; Consumer Finance Club; Fintech Club; AMC Club, etc.
The Association plays a role in protecting the legitimate rights of its members, and at the same time acts as a policy bridge between state management agencies and the banking community.
Mr. Nguyen Quoc Hung expressed his hope that the two sides will have effective cooperation in the coming time.
At the meeting, Mr. Jonathan Saw expressed his impression of Vietnam's strong development, especially in the field of finance and banking. He hopes that the two sides will soon establish a close cooperation platform, creating conditions for businesses of the two countries to access each other's markets, share advanced technology and develop human resources, focusing on strengthening the connection between Vietnamese Fintech businesses and Fintech businesses in Australia.
He said that the Australian Government is currently supporting many businesses to participate in the "Landing Pad" program, helping Australian businesses access the Vietnamese market. To date, more than 40 businesses have received consultation and 20 businesses have come directly to Vietnam to survey and seek cooperation opportunities.
Mr. Jonathan Saw said that Australia currently possesses many advanced financial solutions, with 12 prominent technology unicorns, especially in the fields of cybersecurity and safety. The Australian Government also encourages international cooperation in human resource training, technology transfer and development of Fintech solutions in the financial - banking ecosystem.
Austrade assessed Vietnam as one of the important markets in the Australian Government's foreign policy in Southeast Asia, especially after the two countries upgraded their relationship to a comprehensive strategic partnership in 2024.
Mr. Jonathan Saw commented that Vietnam is not only an attractive destination for technology companies thanks to its rapid digital transformation and young population, but also a potential partner in developing the global Fintech ecosystem.
Mr. Jonathan Saw emphasized that promoting cooperation between Vietnam and Australia in the fields of information technology, security and FinTech is extremely important. Australian companies are looking for opportunities to expand their market in Vietnam, especially in the areas of fintech, digital technology and banking.
The two governments have had many years of close cooperation in programs and projects supporting education, training and economic development. Developing relationships between banks and financial institutions in the two countries is very important, as the units can coordinate to promote opportunities for developing financial and banking markets, as well as promote digital transformation in banking and finance activities.
Training and human resource development play a key role in the cooperation between Australia and Vietnam. Vietnam can learn from Australian education and training models to improve the quality of human resources, especially in the fields of finance and banking, contributing significantly to the sustainable development of the Vietnamese finance and banking sector.
At the end of the meeting, the two sides agreed to sign a memorandum of understanding (MOU) between VNBA and Austrade around June 2025, with the aim of creating an official foundation to promote technology exchange activities, organize seminars and connect businesses. Through the MOU, it will be the foundation for more extensive cooperation activities in the future.
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