Minister Nguyen Van Thang receives the delegation from HSBC Group. Photo: Ministry of Finance.
The Ministry of Finance announced that Minister Nguyen Van Thang recently met and worked with a delegation from HSBC Group, led by Mr. Georges Elhedery, CEO of HSBC Group. Also present at the meeting were leaders from several departments within the Ministry of Finance and members of the delegation. The meeting focused on solutions for mobilizing international capital, developing the capital market, and training high-quality human resources.
At the meeting, Minister of Finance Nguyen Van Thang affirmed that HSBC is a reliable strategic partner that has accompanied the Ministry of Finance through many important development stages, especially playing a key advisory role in the issuance of government bonds to the international market in 2005, 2010 and 2014.
The Minister stated that Vietnam is developing a plan to bring government bonds to the international market with the goal of ensuring feasibility and reasonable fundraising costs. Strengthening contact and promotion with international investors is a key factor in achieving this goal. In the past, the Ministry of Finance has implemented many activities working with investors in major financial centers and will continue to promote market outreach and marketing programs in the coming period.
In terms of market size, by the end of 2025, the total market value of government bonds will reach approximately VND 2.62 trillion, equivalent to 20.4% of GDP; in 2025 alone, the State Treasury will have issued approximately VND 371,500 billion in government bonds. The investor structure continues to shift positively, with the proportion of long-term holdings by non-bank financial institutions reaching approximately 62%.
Minister Nguyen Van Thang particularly emphasized the strategic vision of upgrading Vietnam's national credit rating as soon as possible. “This is a key task to affirm macroeconomic stability, help reduce borrowing costs, and enhance the credibility of the Vietnamese economy among international investors. With its network and in-depth experience, HSBC will continue to advise on the roadmap and necessary technical solutions to realize this goal,” Minister Nguyen Van Thang expressed his expectations.
In addition, Minister Nguyen Van Thang affirmed Vietnam's determination to promote sustainable finance. The Ministry of Finance is focusing on perfecting the green classification standards system and developing the carbon credit market to create strong appeal for major investors worldwide.
In addition, the Minister also requested HSBC's support in providing in-depth training and seconding officials from the Ministry of Finance to work in major financial centers to access modern market operating procedures; at the same time, the two sides should closely cooperate to remove technical bottlenecks, promote the roadmap for upgrading the Vietnamese stock market, and create the most favorable conditions for international investors to strongly participate in the development of the economy.
Mr. Georges Elhedery, CEO of HSBC Group, affirmed that HSBC Group always considers Vietnam a key strategic market and is committed to being a solid bridge bringing the world's largest capital flows to Vietnam. He fully agreed with the Minister of Finance's priority of Vietnam's early upgrade in national credit rating and considered this an important driving force to attract long-term financial institutions.
“Upgrading the national credit rating will create a significant competitive advantage for Vietnam. HSBC is committed to supporting the Ministry of Finance in building a sustainable financial framework and advanced risk management practices that meet international standards to protect the national financial system against global fluctuations,” Mr. Georges Elhedery emphasized.
The CEO of HSBC also committed to implementing training programs and seconding officials from the Ministry of Finance to the group's international branches to transfer in-depth knowledge; at the same time, he stated that the international investment community is very positively assessing Vietnam's reform efforts and stability. HSBC will continue to act as a representative voice, conveying this information to reputable credit rating agencies and institutions to promote the roadmap for upgrading the country's credit rating and stock market, thereby strongly facilitating the flow of foreign capital into Vietnam.
The Minister of Finance and the CEO of HSBC expressed confidence that the cooperation between the two sides will continue to yield many breakthrough results, contributing to elevating Vietnam's financial standing and creating momentum for sustainable economic development in the new era. Minister Nguyen Van Thang also expressed his desire for HSBC to continue expanding its operations in Vietnam, increasing credit volume, and strengthening cooperation in future programs for issuing Vietnamese government bonds to the international market.
