Vietnam and Luxembourg agree to expand financial training and cooperation

Vietnam and Luxembourg have signed a memorandum of understanding covering financial expertise and training. Their ministries agreed to cooperate on topics ranging from banking and insurance to capital markets, investment funds, fintech and sustainable finance.

Possible activities under the memorandum include exchanging regulatory and product information, holding courses online or in either country, and helping identify experts for studies. In-person training would primarily target Vietnamese financial executives and officials at Vietnam’s finance ministry and central bank. The countries may also explore joint initiatives aimed at encouraging bilateral investment.

At the ceremony, Minister Tuan sought Luxembourg’s help with Vietnam’s capital-market development and efforts to attract investment funds. He also outlined ambitions for international financial centres in Da Nang and Ho Chi Minh City, including becoming a hub for green financial transactions. Minister Roth said Luxembourg was prepared to share knowledge of fund regulation and green finance, and facilitate contacts with European financial institutions.

During talks after the signing, the ministers agreed to pursue closer capital-market ties and encourage long-term investment in Vietnam by Luxembourg-based funds and financial institutions. They considered possible collaboration involving the Vietnam Stock Exchange and its Luxembourg counterpart on listing green financial instruments and disclosing related information.

The ministers also showed interest in exchanging expertise on risk-based supervision, fintech sandboxes, EU crypto-asset regulation and using AI to oversee financial markets. For Vietnam’s planned financial centres, Tuan requested assistance with legal frameworks, financial products and workforce training, alongside closer connections to Luxembourg’s green finance ecosystem.