Viet Nam -Singapore Partner to Build International Financial Centers

During an official working visit to Singapore from January 10–14, 2026, Vietnam's Permanent Deputy Prime Minister Nguyen Hoa Binh held talks with Singapore’s Deputy Prime Minister Gan Kim Yong, who also serves as the Minister for Trade and Industry and Chairman of the Monetary Authority of Singapore (MAS). The meeting reaffirmed a proactive approach in executing the Vietnam-Singapore Comprehensive Strategic Partnership and fostering economic-financial ties in this new era.

📌 Strengthening the Comprehensive Strategic Partnership 

Both leaders expressed high satisfaction with the robust growth of bilateral relations. Economic cooperation remains a highlight, with Singapore maintaining its position as the largest investor in ASEAN and the second-largest globally among 153 countries and territories investing in Vietnam, boasting over 4,400 active projects with a total registered capital exceeding $90 billion. The Vietnam-Singapore Industrial Parks (VSIP) were recognized as a highly effective model, now expanding to 21 parks across 14 provinces nationwide.

📈 Developing International Financial Centers 

During the talks, Deputy PM Nguyen Hoa Binh briefed on the establishment of Vietnam's International Financial Centers, aimed at mobilizing high-quality resources—particularly financial capital—for the next development phase. The Vietnamese delegation expressed a desire to learn from Singapore’s experience in designing organizational models, operational mechanisms, and financial supervision to ensure national financial security. He also proposed that Singapore share expertise in connecting international financial hubs and research practical cooperation programs between the financial centers in Ho Chi Minh City, Da Nang, and Singapore.

🏙️ Financial Investment from Singapore to Vietnam 

Deputy PM Binh welcomed UOB Bank’s upcoming groundbreaking ceremony for its headquarters at the Ho Chi Minh City International Financial Center and called for more Singaporean banks and financial funds to increase their presence in Vietnam. Deputy PM Gan Kim Yong praised Vietnam's decision to establish these centers, affirming that Singapore is ready to support and share operational experiences to foster financial connectivity between the two nations.

🧠 Lessons from Singapore and Strategic Direction 

The Singaporean Deputy PM highlighted key lessons:

• Ensuring the central role of the Central Bank and the domestic banking system.

• Building a network of cooperation with foreign financial institutions.

• Establishing a legal framework that is both progressive and stringent.

• Prioritizing high-quality human resources, both domestic and international.

Source: VNA / VietnamPlus / VOV – January 2026.