The event was organized by the Ministry of Finance in coordination with the Ho Chi Minh City People's Committee, gathering more than 400 domestic and international leaders and financial experts, discussing development strategies and orientations to make Vietnam an international financial center with its own identity.
With more than 30 years of experience in strategic and financial consulting, especially knowledgeable, and attached to Asia, and more than 5 years of leading Techcombank to pioneer digital transformation in the banking industry, CEO Jens Lottner has shared, made valuable contributions, high-practiveness and has the ability to effectively apply, contributing to orienting technology solutions in the process of building a Financial Center in Vietnam.
At the conference, experts also suggested some orientations for Vietnam to successfully build this model. In particular, Ho Chi Minh City is oriented to develop into a financial center with its own "identity", in addition to learning from successful international models.
Mr. Jens Lottner, General Director of Techcombank, said that there are three product areas that Vietnam can develop strongly. The first is the green finance sector. According to him, Vietnam is one of the few industrialized countries, leading in trade, capable of meeting all national energy demand with renewable energy. However, to achieve this, Vietnam will need a huge investment in infrastructure.
The second strength, according to Jens Lottner, is digital financial services. In Vietnam, one in three people own digital assets or cryptocurrency. He said that Vietnam has great potential to develop digital financial products, including real digital assets and asset encryption as well as digital currencies. It is businesses that need to use these technologies, and it is those practical needs that will promote innovation in the digital finance sector.
Third is trade finance. This is a field that, according to Mr. Jens, is developing strongly and can be completely rethinked thanks to technology. Vietnam will become a smart manufacturing hub, with a series of investments in artificial intelligence (AI) from large FDI corporations such as Foxconn... "We can easily imagine a world where every product, for example an iPad, can be tracked from the assembly line to transportation thanks to blockchain technology. As a result, all relevant financial information will be fully integrated into the supply chain without any additional procedures, Jens said.
These three fields are not completely dominated by any major financial center. Therefore, the General Director of Techcombank assessed that Vietnam has suitable conditions, including practical needs, talented people, and intellectual potential to develop these three areas.
At the Conference, leading experts in the world and Vietnam also highly appreciated the role and importance of financial institutions and banks in operating the International Financial Center in Vietnam.
In the third discussion session on the positioning of the Financial Center in Vietnam, Mr. Jens Lottner, as General Director of a leading private bank in Vietnam and leading in technology investment, digital banking also continued to share opportunities and challenges from the perspective of domestic banking in this process.
In the current context like Singapore, a financial center can transact abroad, so the establishment of an International Financial Center in Vietnam brings many opportunities for domestic banks. In addition to the specific legal mechanisms stipulated by the State Bank and relevant agencies, domestic banks must upgrade standards themselves, integrate international payment transactions to meet new requirements such as Basel III, IRF9 standards... This requires domestic banks to invest more in building internal capacity towards international standards as the way we Techcombank is still striving to implement.
The establishment of an International Financial Center in Vietnam could create conditions for Vietnamese banks or enterprises to be able to make foreign-invested loans domestically instead of abroad as at present. This also opens up opportunities for domestic banks to mobilize large capital sources to serve business. Mr. Jens shared more.
This CEO also appreciated the opportunities for applying Blockchain in unified financial management as TCBS is implementing will also be included to help operate better than IFC. Currently, TCBS is pursuing the Wealthtech financial technology strategy, pioneering the application of Blockchain and Smart Contract in bond issuance, transaction management and corporate bond ownership rights for customers in Vietnam... All of these will contribute to the development of products and services of the IFC formation.
The CEO's participation and innovative contribution to the national strategy once again affirms Techcombank's position as a leading bank, committed to accompanying the country in effectively implementing the sustainable development orientation, towards building Vietnam's position in the global economy.
