The State Bank of Vietnam published a readout of Governor Pham Duc An's meeting with Singapore's Ambassador to Vietnam, Rajpal Singh, focused on bilateral banking cooperation and Vietnam's plans to develop an international financial center. The governor asked for continued experience sharing and practical support from Singapore, particularly from authorities with direct experience in supervising and developing a globally recognized financial center. Singapore indicated it is ready to support Vietnam by linking regulators, institutions, and businesses and by providing technical assistance. The discussion also covered recent macroeconomic developments and the State Bank of Vietnam's policy management. In setting out the international financial center project, the governor said it is intended to develop a modern financial market, improve connectivity with international markets, and attract high quality international investment flows to Vietnam. He identified Singapore's experience in financial regulation, capital market development, risk management, anti-money laundering, green and sustainable finance, and financial technology as particularly relevant for Vietnam's work on designing and operating the center.
State Bank of Vietnam2026-05-21
State Bank of Vietnam seeks Singapore support for Vietnam's international financial center development
The State Bank of Vietnam reported on a meeting between Governor Pham Duc An and Singapore’s Ambassador to Vietnam on bilateral banking cooperation and Vietnam’s plans to develop an international financial center. The governor sought continued experience sharing and technical support from Singapore, which signalled readiness to link regulators, institutions and businesses and provide assistance in financial regulation, capital markets, risk management, anti-money laundering, green and sustainable finance, and financial technology.