Vietnam seeks UK expertise in green finance and international capital mobilisation

Vietnam seeks UK expertise in green finance and international capital mobilisation

On the afternoon of May 22, at the headquarters of the Ministry of Finance, Minister Ngo Van Tuan received Iain Frew, Ambassador of the United Kingdom of Great Britain and Northern Ireland to Vietnam.

Minister Ngo Van Tuan and Ambassador Iain Frew. Photo: Duc Minh

At the meeting, Minister Tuan expressed his appreciation for Ambassador Frew’s close cooperation and support in developing Vietnam’s capital market and coordinating with FTSE Russell to facilitate the upgrade of Vietnam’s stock market classification.

He also acknowledged the UK’s assistance in building institutional frameworks for international financial centres, as well as mobilising capital from international markets to support sustainable development programmes and green bonds.

The minister expressed his hope that the MoF would continue to receive support from the ambassador going forward.

Minister Tuan also thanked the ambassador for the UK’s initial assistance in establishing the legal framework for international financial centres in Ho Chi Minh City and Danang.

He proposed that the British Embassy, TheCityUK, along with British agencies, organisations, businesses and experts, further analyse Vietnam’s characteristics, competitive advantages and challenges in comparison with existing financial centres in the region.

He also called on the UK side to continue sharing international experience in improving legal frameworks and to accompany Vietnam in reviewing and refining regulations related to the capital market and international financial centres in line with international practices, while remaining suitable for Vietnam’s practical conditions.

Ambassador Frew said he was impressed by Vietnam’s progress in completing legal frameworks and appointing key personnel in Ho Chi Minh City and Danang related to the operation of international financial centres. He reaffirmed that the UK stands ready to continue supporting Vietnam in strengthening the presence of market participants within these financial centres.

Discussing green finance and sustainable development, Minister Tuan stated that to achieve double-digit economic growth over the next decade, total social investment capital will need to reach approximately 40 per cent of GDP. As a result, all capital mobilisation channels will need to increase by between 1.7 and 2 times compared to the previous period.

“We are carefully considering mobilisation on international capital markets, particularly credit sources, with interest rates compatible with the economy’s repayment capacity. Green finance is a channel in which we place high expectations, not only for capital mobilisation but also as a product that can enhance the competitiveness of financial centres,” the minister said.

He also proposed that the UK support the deployment of experienced experts in green finance to assist Vietnam’s MoF in coordinating, developing and implementing the UK’s Partnering for Accelerated Climate Transitions programme. He further suggested support for specialised state management areas where the UK government has strengths, including green finance, green bonds and carbon credits.

Ambassador Frew thanked the minister for recognising the important role of green finance. He noted that KPMG was currently ready to support Vietnam in integrating these critical elements into the development of its financial centres and capital markets.

The UK reaffirmed its commitment to helping Vietnam improve access to capital for achieving its Net Zero targets through initiatives such as UK PACT and Just Energy Transition Partnership, focusing on improving green finance regulations, developing sustainable financial instruments and mobilising private capital.

Ambassador Frew also said that the UK hoped to cooperate with Vietnam’s MoF in developing an action plan for the UK-Vietnam Green Finance Partnership.

In addition, the two sides held in-depth discussions on plans by UK Export Finance to co-organise a high-level conference with Vietnam’s MoF in June 2026 during the visit of UK Trade Envoy Matt Western.

The conference aims to mobilise at least $6.5 billion in guarantees or direct commercial loans for Vietnam’s priority sectors, including railway projects, power transmission infrastructure, offshore wind power, public hospitals using equipment imported from the UK, and other strategic sectors.

The dialogue concluded with open discussions on improving legal frameworks, excise tax policies and commitments to ensuring a fair and transparent investment environment for businesses from both countries.

VIR