Standing Deputy Prime Minister Nguyen Hoa Binh on March 25 had meetings with heads of leading fintech institutions and investment funds, including KraneShares, Stellar Development Foundation, Polymorphic Capital, TPG Inc., and Kraken as part of a series of activities on the US East Coast to attract investment and foster cooperation for development of the Vietnam International Financial Centre (VIFC).

Standing Deputy Prime Minister Nguyen Hoa Binh (R) receives José Fernández da Ponte, President of the Stellar Development Foundation.

Binh also chaired a working session with UN Deputy Secretary-General Rabab Fatima, leaders of UN agencies, ambassadors and representatives of developing countries to discuss measures to strengthen South - South and trilateral cooperation.

At discussions with financial institutions and investment funds, the Deputy PM said the visit aimed to concretise high-level commitments between Vietnam and the US under their Comprehensive Strategic Partnership, particularly following Party General Secretary To Lam’s US visit in February, while introducing the VIFC and calling for investment and partnerships in the finance and banking sectors.

Jonathan Krane, Founder and CEO of KraneShares, suggested Vietnam develop compelling investment narratives and proposed organising international promotional events such as a “Vietnam Day” at the New York Stock Exchange to showcase the market's potential.

José Fernández da Ponte, President of the Stellar Development Foundation, expressed his interest in cooperating with Vietnam in payment systems and financial infrastructure and pledged participation in upcoming financial events hosted in the country.

Richard Sobel of Polymorphic Capital highlighted key factors for attracting investment, including rule of law, depoliticisation of business activities, human resource development and streamlined administrative procedures.

He described the VIFC as well-timed given the country’s strong workforce potential, strategic location and regional connectivity, while affirming the fund’s readiness to help connect Vietnam with global investors.

Marc Mezvinsky, Managing Director at TPG Inc., noted his long-standing interest in Vietnam and expressed a desire to explore investment opportunities, citing the country’s positive development momentum. TPG manages assets worth more than 300 billion USD globally.

At a meeting with Kraken, CEO David Ripley expressed his willingness to deepen engagement and policy dialogue with Vietnamese regulators on the VIFC development.

The company recommended maintaining open dialogue between businesses and regulators, establishing clear and consistent legal frameworks, balancing innovation with consumer protection, prioritising security and risk management in crypto markets, and adapting international experience to Vietnam’s specific conditions.

Appreciating the recommendations, Binh affirmed that the Vietnamese Government remains committed to accompanying and listening to investors, noting that cooperation with global financial institutions would help refine Vietnam’s pilot policies in emerging fintech sectors.

At the session with ambassadors from African and small island nations, participants discussed promoting South–South and trilateral cooperation for sustainable development.

The Deputy PM stressed that amid global uncertainties, countries should adopt new approaches, making South–South cooperation a new pillar of international relations and a driver of development based on complementary strengths among developing nations.

He noted that the 14th National Congress of the Communist Party of Vietnam set groundbreaking strategic orientations, targeting average GDP growth of over 10% during 2026–2030 as Vietnam strives to become a high-income developed country by 2045 while contributing more actively to global development efforts, particularly among developing nations.

Participants agreed that South–South cooperation has become an increasingly important pillar of global development cooperation. UN Deputy Secretary-General Rabab Fatima highlighted its effectiveness in delivering practical, adaptable solutions grounded in developing countries’ own experiences.

Delegates also described Vietnam as a successful development model, citing economic reforms, international integration, macroeconomic stability and human capital investment.

Priority cooperation areas identified included smart agriculture, food security and agricultural value chains, digital transformation, science and innovation, renewable energy, climate adaptation and mitigation, human resource development, development finance mobilisation and private investment.

The meeting concluded with strong consensus on moving from political commitments to concrete actions through closer coordination among Global South countries, development partners and the UN system.

Later the same day, Binh and the Vietnamese delegation departed New York for their working trip to San Francisco.

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