VNBA and HKTDC promote cooperation in finance and fintech

Attending the meeting, on the VNBA side, there were Dr. Nguyen Quoc Hung, Vice Chairman cum General Secretary, leaders of departments and units under the VNBA Standing Office, and representatives of many banks and fintech companies that are VNBA members.

On the Hong Kong Trade Development Council (HKTDC) side, there was Mr. Rimsky Yuen - Chairman of the Service Advisory Committee, representatives of a number of Hong Kong enterprises in the fields of investment consulting, M&A, finance and fintech, etc.

Speaking at the meeting, Dr. Nguyen Quoc Hung warmly welcomed the HKTDC business delegation. He emphasized the strong development potential of the Vietnamese financial market, especially in the field of fintech and digital banking transformation. He hoped that the meeting would be an effective bridge, helping VNBA members to approach, learn from experience and find strategic partners from one of Asia's leading financial centers, Hong Kong.

Recalling the recent business trip of VNBA to Hong Kong, Dr. Nguyen Quoc Hung said that VNBA had the opportunity to exchange and discuss with relevant parties on banking and payment activities, etc., and at the same time, access a lot of practical experience, especially in the fields of anti-money laundering; anti-financial fraud; and human resource development in the fields of finance and banking. According to Dr. Nguyen Quoc Hung, Hong Kong (China) is currently one of the major FDI investors in Vietnam, with many effective projects and stable capital flows. Therefore, VNBA wishes to continue to accompany and support Hong Kong investors in payment activities (including cross-border payments); develop green and sustainable finance; risk management and anti-money laundering; develop capital markets; promote fintech cooperation between Hong Kong and Vietnam; training high-quality human resources in the fields of finance, banking, etc.

At the meeting, Mr. Rimsky Yuen highly appreciated the activities and cooperation results between the two sides in the past time. The representative of HKTDC also sincerely thanked Dr. Nguyen Quoc Hung for his frank and strategic sharing. The factors that VNBA presented will be an important basis for promoting deeper cooperation between the two sides, especially in the fields of foreign direct investment (FDI), fintech and green finance.

According to the representative of HKTDC, in major financial centers such as Singapore and many Asian countries, the governments of these countries have had many policies to promote the development of the production and business environment, supporting family business models - which are an important component of a sustainable business ecosystem. From Hong Kong's experience, the family business model plays a key role in maintaining traditions, connecting information, and sharing resources between generations - thereby creating a foundation for stable economic development. This is also a potential direction that Vietnam can research and develop in the future, if there is support from policies and international cooperation.

At the meeting, representatives of businesses from both sides directly shared and discussed future cooperation opportunities.

A representative of King & Wood Mallesons Law Office - one of the leading law firms in Hong Kong said that with a wide network in both Hong Kong and mainland China, this unit is ready to support Vietnamese businesses in the process of accessing international markets, taking advantage of the Hong Kong bridge to connect more deeply with the East Asia region. King & Wood Mallesons' team of lawyers is committed to accompanying Vietnamese investors in legal consulting, M&A and cross-border dispute resolution.

The meeting is expected to create an important boost, promoting cooperation in the fields of finance and fintech as well as establishing a close partnership between Vietnamese and Hong Kong enterprises, paving the way for effective investment flows and technology cooperation in the future.

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