(29 March 2024)

Sunwah – During the visit to China of the high-level Vietnam government delegation, led by Mr. Nguyen Chi Dung, Minister of Planning and Investment, on the evening of 29 March 2024, Sunwah Group (Hong Kong) and the Ministry of Planning and Investment of Vietnam jointly organized the Seminar titled “Building a Financial Center in Vietnam: Model and Opportunities” in Shanghai. Experts and leaders from well-known Chinese financial management organizations, banks, investment funds, and many more, attended the event. Dr. Jonathan Choi, Standing Committee Member of the National Committee of the Chinese People’s Political Consultative Conference, Chairman of the Chinese General Chamber of Commerce, Chairman of the Hong Kong-Vietnam Chamber of Commerce, Chairman of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance, and Chairman of Sunwah Group (Hong Kong), and Mr. Nguyen Chi Dung, Minister of Planning and Investment of Vietnam, co-chaired the Seminar. They discussed the construction and feasible development model to unleash the potential of Vietnam’s financial center.

 Seminar titled “Building a Financial Center in Vietnam: Model and Opportunities” in Shanghai on 29 March 2024

In his opening remarks, Minister Nguyen Chi Dung shared that the global economy is recovering, and the Government of Vietnam plans to establish international financial centers in Ho Chi Minh City and Da Nang City to enhance Vietnam’s competitiveness and international influence. Therefore, the high-level Vietnam delegation, consisting of about 40 leaders and officials specializing in finance, high-speed railways, and free trade zones and many more, hoped to gain advanced experiences and ideas from the Chinese business leaders to contribute to Vietnam’s development. Minister Nguyen Chi Dung also highly appreciated the significant contributions of Dr. Jonathan Choi, Chairman of Sunwah Group, to the socio-economic development of Vietnam.

Mr. Nguyen Chi Dung, Minister of Investment and Planning of Vietnam

In his speech, Dr. Jonathan Choi welcomed the Vietnam delegation and shared the development of Hong Kong as an international financial center: “Hong Kong can develop into the world’s freest international financial center not only due to its favorable geographical location but also thank to its highly internationalized legal system.” Looking at the development of other international financial centers worldwide, the Dubai International Financial Centre model is also worth considering. The enforcement of international financial laws can enhance investor confidence. Regarding the construction of high-speed railways, Dr. Jonathan Choi stated that China’s high-speed railway technology is highly developed, and the China-Laos railway is one of the successful projects that Vietnam can refer to. He also mentioned that China’s free trade zones are currently the most open and dynamic areas, mainly concentrated in the Guangdong-Hong Kong-Macao Greater Bay Area. In his role as Chairman of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance, he welcomed the Minister and the delegation to visit this rapidly developing area in China.

Dr. Jonathan Choi, Standing Committee Member of the National Committee of the Chinese People’s Political Consultative Conference, Chairman of the Chinese General Chamber of Commerce, Chairman of the Hong Kong-Vietnam Chamber of Commerce, Chairman of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance, and Chairman of Sunwah Group (Hong Kong)

During the discussion, representatives from Chinese banks and the Industrial and Commercial Bank of China shared their experiences in providing cross-border financial services, financial system innovation, internationalization of the Renminbi, and international financing. Representatives from enterprises such as Guotai Junan Securities Company and China Investment and Development Group also shared their views on the international securities market, the relationship between investment, finance, and industrial development, and proposed suggestions based on the practical situation of Vietnam. The discussion also noted many opinions assessing Vietnam’s full potential and advantages to establish an international financial center. All parties expressed readiness to enhance cooperation with Vietnam in the financial sector and support the establishment of Vietnam’s international financial center.

Minister Nguyen Chi Dung (right) and Dr. Jonathan Choi (left)

Attending the Seminar from the Vietnam delegation were: Mr. Mai Ngoc Thuan, Vice Chairman of the People’s Council of Ba Ria-Vung Tau Province; Mr. Le Anh Quan, Standing Vice Chairman of the People’s Committee of Hai Phong City; Mr. Tran Phuoc Son, Standing Committee Member of the Party Committee, Standing Vice Chairman of the People’s Committee of Da Nang City; Mr. Pham Van Linh, Vice Chairman of the Central Theoretical Council; Mr. Nguyen The Tung, Consul General of Vietnam in Shanghai; leaders of departments under the Ministry of Planning and Investment, the State Bank of Vietnam; representatives of departments under Hai Phong City, Da Nang City, Ba Ria-Vung Tau Province, Ho Chi Minh City. From the Chinese side were: Mr. Jesse Choi, Regional Director of Sunwah Group in ASEAN; Mr. Jackson Choi, Regional Director of Sunwah Group in East China; Ms. Diana Dai, Chief Representative of Sunwah Group in Beijing and Southwest China; Ms. Gu Jin, Chief Representative of Sunwah Group in East China; Ms. Le Thu Lua, Chief Representative of Sunwah Group in Hanoi; as well as leaders of China Investment and Development Group, China Construction Bank, and Guotai Junan Securities Company, and many more.