From 24 July to 1 August 2026, an Agribank delegation led by General Director Pham Toan Vuong accompanied Deputy Prime Minister Nguyen Van Thang and the Government delegation on a working visit to Switzerland and the Netherlands. This important economic diplomacy mission focused on studying international experience in developing an international financial centre and capital markets, as well as advancing green finance and fintech, while strengthening links with global investment funds and financial institutions.

Switzerland: The appeal of policy stability and a fintech foundation

During the visit to Switzerland, the delegation attended the roundtable entitled “New Business Opportunities in the Era of Financial and High-Tech Cooperation” in Zurich. The event brought together representatives of numerous Swiss investment funds, enterprises, banks and technology companies.

Leaders of the State Bank of Vietnam, Agribank and BIDV, together with other delegates, attend the roundtable “New Business Opportunities in the Era of Financial and High-Tech Cooperation” in Switzerland

At the roundtable, Swiss delegates emphasised that they placed greater importance on Vietnam’s policy stability and capacity to implement policy than on short-term incentives. International partners affirmed that, in addition to providing capital, they were prepared to contribute professional expertise, management experience and networks, as well as support Vietnam in developing its investment ecosystem. Investors also proposed that Vietnam establish mechanisms enabling partners to contribute to policy advice and workforce training, with a view to building long-term cooperation.

In response, the delegation provided detailed information on the special regulatory framework governing banking activities, foreign exchange management and capital flows, with the aim of turning the international financial centre into a channel for mobilising international resources for infrastructure, digital transformation and high technology.

Deputy Prime Minister Nguyen Van Thang (centre), Agribank General Director Pham Toan Vuong (far right) and members of the delegation pose for a commemorative photograph with representatives of investment funds, enterprises and partners in Switzerland

The Agribank delegation also attended a working session with the Crypto Valley Association (CVA) in the city of Zug. During the session, CVA representatives shared in-depth experience in developing a technology ecosystem, emphasising that fintech development requires a coordinated combination of a clear yet flexible legal framework, government support for innovation and a highly skilled workforce.

Regarding emerging trends such as stablecoins and asset tokenisation, the Swiss representatives noted that their feasibility in practice depends heavily on each country’s legal framework, know-your-customer and anti-money laundering systems, as well as mechanisms for determining legal ownership and resolving disputes.

The Netherlands: Unlocking green capital and strengthening the banking system

Continuing the working visit, the delegation attended the Vietnam–Netherlands Business Roundtable, where sustainable finance and the capacity of Vietnam’s domestic banking system were central to the discussions.

At the roundtable, enterprises and investment funds showed particular interest in and repeatedly raised questions about capital mobilisation needs for green development projects, including clean energy, waste treatment, water supply, green transport, seaports, logistics and climate-resilient infrastructure. Dutch partners recommended that Vietnam take measures to strengthen the financial capacity of its banking system and consider foreign ownership policies that could attract foreign investors with long-term governance expertise.

Agribank General Director Pham Toan Vuong poses for a photograph with delegates attending the Vietnam–Netherlands Business Roundtable

Responding directly to these views, Deputy Prime Minister Nguyen Van Thang briefed investors on the Government’s recent policies and plans to increase the capital of state-owned commercial banks, including Agribank. This reflected the Government’s close attention to strengthening the role and financial capacity of the key pillars of the domestic banking system, as well as their capacity to supply credit.

Regarding foreign ownership, leaders of the State Bank of Vietnam clarified that foreign ownership levels remain below the statutory limits, indicating that there is still room to attract additional capital. The decision not to raise the general foreign ownership cap immediately is intended to ensure transparency, prevent cross-ownership and safeguard systemic stability. Specific proposals, however, will continue to be carefully considered.

While in the Netherlands, the Agribank delegation also attended a working session with APM Terminals to study a development model anchored in the strengths of the real economy. The Netherlands’ experience shows that the financial system should be designed to directly support sectors in which the country holds competitive advantages, such as seaports, logistics and water management.

Participation in this high-level working visit not only enabled Agribank to gain first-hand insight into the core concerns of foreign capital providers, but also reaffirmed its readiness for international integration as it progressively strengthens its financial capacity and operational transparency in support of Vietnam’s strategy to develop an international financial centre and a green economy.

Kylie Nguyen