The State Bank of Vietnam (SBV) hosted a meeting between Deputy Governor Nguyen Ngoc Canh and Ms Alexandra Smith, Consul General of the United Kingdom in Ho Chi Minh City, joined by representatives of UK fintech businesses, to discuss Vietnam-UK cooperation in the financial and banking sector, including digital payments and trade finance initiatives. The discussion covered UK support to SBV-linked projects on developing a financial centre and promoting green finance, as well as efforts to improve the transparency and efficiency of trade finance. SBV highlighted the long-term presence of UK banks in Vietnam, including Standard Chartered and HSBC, and noted 2025 bilateral trade turnover of USD 9.3 billion, up 10.7% year on year, with the Vietnam-UK Free Trade Agreement cited as a key driver. Ms Smith welcomed the establishment of international financial centres in Ho Chi Minh City and Da Nang and offered UK experience to support Vietnam’s digital transformation, while also pointing to progress on a Database Platform on Trade Finance in Vietnam. The meeting also reviewed Vietnam’s non-cash payments growth, including more than 87% of adults holding accounts and 24/7 real-time processing via the Financial Transfer and Electronic Clearing System averaging more than 30 million transactions per day, alongside SBV’s focus on payment security and risk control.

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