Vietnam welcomes Chinese investors in financial centres

Vietnam welcomes Chinese investors in financial centres

On May 25, at the headquarters of the Ministry of Finance, Deputy Minister Nguyen Thi Bich Ngoc held a working session with a delegation of businesses from China and Hong Kong, led by Jonathan Choi, chairman of Sunwah Group and chairman of the Greater Bay Area Entrepreneurs Alliance.

Photo: Duc Minh

Deputy Minister Ngoc welcomed and appreciated the presence of nearly 80 delegates representing around 50 enterprises and organisations from China and Hong Kong during their visit and working trip with Vietnam’s MoF.

Vietnam is currently pursuing new development, focusing on several priority industries and sectors while selectively choosing investors for key strategic projects. For enterprises interested in launching new investment projects in Vietnam, depending on the nature and scale of each project, the MoF stands ready to establish dedicated task forces to work directly with investors.

In addition to listening to business concerns and difficulties regarding ongoing projects in Vietnam that require support from the MoF and local authorities, the deputy minister encouraged the delegation’s enterprises to share their future investment plans aligned with Vietnam’s priority sectors, particularly projects related to green development and growth.

On behalf of the delegation, Choi said that the businesses within the delegation operate across a broad range of sectors, from traditional manufacturing, new materials and renewable energy to high-tech industries such as AI, data centres and healthcare.

The delegation therefore expressed interest in learning more about Vietnam’s policies and strategic direction for attracting foreign investment in high technology, AI, data centres, innovation and digital transformation.

They also sought updated information on mechanisms and policy directions for investors participating in Vietnam’s international financial centres, as well as opportunities for cooperation in pharmaceuticals, biotechnology and health sciences, and investment promotion mechanisms between Vietnam, China and Hong Kong.

Deputy Minister Ngoc noted that the world was entering a period marked by overlapping crises involving energy, technology, geopolitics and governance. In that context, economies such as Vietnam must make decisions that are prudent and bold.

She proposed that Sunwah Group, leveraging its reputation and influence, continue cooperating closely with the MoF, particularly through the Foreign Investment Agency and related departments, to organise investment activities, facilitate business connectivity, introduce investment opportunities and strengthen cooperation.

Such cooperation, she said, would help improve business competitiveness, boost technology transfer and support workforce development, especially high-quality human resources, thereby enabling Vietnamese enterprises to participate more deeply and effectively in regional and global value chains.

The deputy minister said "The MoF has recently received hundreds of expressions of interest regarding the establishment of international financial centres in Ho Chi Minh City and Danang. Around 38 organisations have already registered to become members of Vietnam’s international financial centres, including foreign banks, investment funds, securities firms and payment technology companies."

"The MoF hopes to see strong participation from Chinese and Hong Kong enterprises in these financial centres, with businesses continuing to serve as bridges connecting Vietnam’s International Financial Centres with Hong Kong as one of Asia’s leading global financial hubs," she added.

In addition, the deputy minister encouraged Sunwah Group to provide policy recommendations and advisory support related to investment mechanisms and the development of international financial centres. Such contributions, she said, would help Vietnam refine its institutional and legal framework, create a competitive, fair and transparent business environment aligned with international practices, and facilitate long-term investment activities in Vietnam.

She reaffirmed that Vietnam’s MoF remains committed to accompanying the business community and continuing to improve the investment and business environment in a transparent, stable and investor-friendly direction conducive to long-term investment.

Currently, China ranks sixth among 153 countries and territories investing in Vietnam, with the total registered investment capital reaching $35.87 billion across 6,725 projects in 19 out of 21 economic sectors. Meanwhile, Hong Kong ranks fifth, with total registered investment capital of $40.76 billion across 3,337 projects.

High-quality investment flows from China into Vietnam have grown strongly in recent years, focusing on manufacturing and processing industries, infrastructure, energy and high technology. At the same time, Hong Kong continues to play a strategic role as one of Asia’s leading international financial centres and an important gateway for international capital flows into Vietnam.

Looking ahead, investment cooperation between Vietnam, China and Hong Kong is expected to expand further into strategic sectors such as innovation, international financial centres, digital transformation, AI, green economy, clean energy and high-quality infrastructure development, fully aligned with Vietnam’s strategy of attracting selective, high-quality, efficient and sustainable foreign investment.

VIR