HCMC – The British Embassy in Hanoi and the Vietnam Banks Association (VNBA) co-held the UK–Vietnam Financial Services Summit on November 7, bringing together senior government officials, bankers, and fintech executives from both countries to discuss ways to strengthen financial cooperation and transparency.
The event came as the two countries elevated their relationship to a Comprehensive Strategic Partnership, paving the way for greater collaboration in banking, fintech, and financial innovation.
British Ambassador to Vietnam Iain Frew said the summit reflected the growing and dynamic relationship between the U.K. and Vietnam, adding that London was committed to supporting Hanoi in modernising its financial markets and developing International Financial Centers (IFCs).
“As a global financial hub, the U.K. stands ready to share its expertise in regulatory reform, fintech, green finance, and digital transformation — supporting Vietnam’s ambition to become a high-income economy by 2045,” Frew said.
He also cited the role of U.K. companies such as Prudential, HSBC, and Standard Chartered in helping Vietnam build a transparent and secure financial system.
Nguyen Quoc Hung, vice chairman and secretary general of the VNBA, said more than 95% of transactions at major Vietnamese banks are now digital, reflecting the country’s rapid progress in financial technology adoption.
He introduced the Trade Finance Registry (TFR), a national trade finance database developed by the VNBA, the State Bank of Vietnam, the British Embassy, and Boston Consulting Group. The system aims to increase transparency, prevent fraud, and enable data-sharing between banks, customs, and logistics firms.
Vu Minh Chau, acting director general of the State Bank of Vietnam’s International Cooperation Department, said financial ties between Vietnam and the U.K. had expanded steadily since 2008.
“The U.K. is a leading global financial centre with deep experience in fintech, open banking, and green finance. Vietnam looks forward to further strengthening this partnership,” she said.
Can Van Luc, chief economist at BIDV and a member of the Prime Minister’s Economic Advisory Council, said the summit took place at a “triple milestone” moment — the elevation of bilateral ties, the fifth anniversary of the UK–Vietnam Free Trade Agreement (UKVFTA), and the U.K.’s recent accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Panelists from Boston Consulting Group, Traydstream, Techcombank, Standard Chartered, and Ozone API said the Trade Finance Registry would serve as a foundation for a more transparent and globally connected financial system in Vietnam.
They also said Vietnam could seize an opportunity to accelerate growth by strengthening trusted data systems, cybersecurity, and public–private collaboration.
