Vietnam seeks stronger green finance cooperation with Luxembourg
Standing Deputy Prime Minister Nguyen Hoa Binh is set to pay a visit to the Grand Duchy of Luxembourg, a trip expected to open new avenues for cooperation, particularly in green finance and sustainable development, given flourishing bilateral relations.
Speaking with the Vietnam News Agency (VNA)'s reporter on the threshold of the visit, Nguyen Van Thao, Vietnamese Ambassador to Belgium and Luxembourg, as well as Head of the Vietnam Mission to the European Union, outlined key objectives of the visit and prospects for the bilateral cooperation in the coming time.
According to the ambassador, the trip aims to study Luxembourg’s experience in developing an international financial center and to explore opportunities for bilateral cooperation with the local government, financial institutions, investment funds, and banks. These discussions are expected to contribute to Vietnam’s plans to establish international and regional financial centers in Ho Chi Minh City and Da Nang.
Vietnam and Luxembourg have enjoyed a steadily growing partnership over the past five decades, establishing a strategic partnership on green finance in 2023. Thao noted that the visit would provide fresh impetus for the bilateral relations as the two countries look to deepen collaboration in areas where Luxembourg has strengths and Vietnam has needs, including finance, banking, digitalization, and sustainable development, according to VNA.
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| Nguyen Van Thao, Vietnamese Ambassador to Belgium and Luxembourg, and Head of the Vietnam Mission to the European Union. (Photo: VNA) |
Luxembourg, a country with 50 years of experience in financial services, has successfully transitioned from an economy based on agriculture and steel production to a global center for green finance, Thao noted. He said the Vietnamese delegation could draw on the country’s expertise in this sector while fostering cooperation in fintech, green and sustainable finance, innovation, startups, and digital transformation – areas that align with Vietnam’s development requirements.
According to the diplomat, during his visit, Binh is expected to hold meetings with Luxembourg’s Government officials, financial management agencies, and financial institutions. He will also meet with Vietnamese professionals working in the European nation’s finance and banking sector.
Thao stressed that there remains significant untapped potential for bilateral cooperation in financial and banking, particularly in green finance and fintech, and that both countries should work together to maximize the benefits of the strategic partnership on green finance.
Cold snap hits northern Vietnam, temperatures drop below 10°C
A strong northeast monsoon is set to bring a cold spell to northern and north-central Vietnam from the afternoon and night of March 15, causing temperatures to plunge below 10°C in several areas, according to the National Center for Hydro-Meteorological Forecasting.
Hanoi will be affected by the cold air mass, with temperatures expected to drop to between 14°C and 16°C. Across the northern region, lows will range from 13°C to 16°C, while mountainous areas will experience severe cold, with temperatures falling below 10°C. In the north-central region, temperatures are forecast to dip to between 14°C and 17°C.
The East Sea is expected to see strong winds and rough seas, with waves reaching up to 5.5 meters high, reported VOV.
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| Photo: VOV |
The cold front may also bring showers, thunderstorms, and an increased risk of tornadoes, lightning, hail, and strong winds, potentially impacting crops, livestock, and transportation.
Residents are advised to take precautions against the cold, protect crops and livestock, and stay updated on weather warnings. Fishermen are urged to limit offshore activities when strong winds are forecast to ensure safety.
Vietnam - bright spot in Italy's Asia strategy
Vietnam is considered a country with great growth potential and is highly valued by Rome and Italy in their strategies to develop partnerships, heard a conference held in Rome on March 14.
The conference brought together more than 120 delegates from diplomatic missions, government agencies, and businesses, discussing key issues in bilateral relations, particularly in trade, culture, and tourism between Italy and Asian countries.
Attending the event, Vietnamese Ambassador to Italy Duong Hai Hung emphasised that the Vietnam-Italy Strategic Partnership has developed robustly over the past years.
Vietnam is currently Italy's largest trading partner in ASEAN, with bilateral trade turnover reaching 6.9 billion USD in 2024, an increase of 13.1% year-on-year, cited VNA.
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| Vietnamese Ambassador to Italy Duong Hai Hung speaks at the event. (Photo: VNA) |
The presence of the Leonardo Group along with credit institutions SACE and Simest in Vietnam has contributed to boosting trade and investment flows between the two countries and promoting "made-in-Italy" products in the 100 million-strong Vietnamese market.
The conference featured four thematic discussion sessions, attracting over 20 speakers. Experts focused on discussing the cultures and traditions of four Asian countries closely linked to Italy - Vietnam, Thailand, China, and Japan - as well as issues related to tourism, agriculture, sustainable development, trade, and contemporary arts.
Speaking to the Vietnam News Agency (VNA)'s correspondents in Italy, Francesca Leoncini, a representative of the Rome City Council, affirmed that Asia is a market full of potential for Italian businesses. Particularly, Vietnam is considered a country with great growth potential and is highly valued by Rome and Italy in their strategies to develop partnerships.
In terms of tourism, experts highlighted the important role of Asian tourists in Italy's tourism industry.
Elia Rosciano, President of the Federation of Italian Non-Hotel Guest House Associations, expressed his confidence in the potential for cooperation between the two sides, especially in attracting more Vietnamese tourists to Italy.
Representatives of Italian companies, such as wine producer Marchesi Mazzei and consultancy firm Mediterraneo, noted that Vietnam is a promising market with increasing consumer demand and a favorable investment environment.
Vietnam becomes attractive destination for global semiconductor and AI industry
At an international conference on AI and semiconductors held in Hanoi in mid-March, experts affirmed Vietnam's crucial role in the global technology landscape.
Following the success of the International Industrial AI Conference (IIAC) at Stanford University, Vietnam was chosen to host the 2025 International Conference on Artificial Intelligence and Semiconductors (AISC).
This significant event brought together leading experts in AI and semiconductors, offering access to the latest technological advancements while reinforcing Vietnam’s position in the global value chain of this industry.
Christopher Nguyen, PhD, founder of Aitomatic from Silicon Valley, shared insights on AI breakthroughs in automating complex manufacturing decisions.
The two co-creators of AlphaChip—Anna Goldie, PhD, from Google DeepMind, and Azalia Mirhoseini, PhD, from Stanford University—presented new advancements in AI-driven chip design, from concept to production.
In response to these passionate contributions from scientists, Nguyen Mai Duong, Director of the Innovation Department under the Ministry of Science and Technology (MOST), emphasized that in the era of the 4.0 Industrial Revolution, innovation is no longer an option but a vital factor for enhancing national competitiveness.
AI and semiconductors are not just cutting-edge technologies but also strategic drivers propelling Vietnam forward in a new development cycle.
Recognizing the opportunities and potential of science, technology, and innovation, Vietnam has implemented numerous policies to promote these fields.
Duong said that to institutionalize these initiatives, particularly Resolution 57, MOST is urgently finalizing a draft amendment to the Law on Science and Technology, cited VNN.
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| Dr Azalia Mirhoseini from Standford University at AISC (photo: NIC) |
The draft includes bold policies to boost innovation, such as decentralization, delegation of authority, simplification of administrative procedures in state management, promotion of digital transformation, and enhancement of transparency, ethics, and integrity in science and technology activities.
“The draft law will introduce new policies with specific regulations, providing a legal foundation for science and technology to develop quickly and sustainably, keeping pace with global trends,” Duong said.
“MOST will also expand the scope and subjects of the law to include the non-public sector to promote scientific research,” he added.
With strong support and decisive leadership from the government, alongside improving innovation policies, Vietnam is steadily establishing itself as an attractive destination for the semiconductor and AI industries.
MOST is committed to becoming businesses’ fellow-traveler, working with businesses, experts, and scientists to build a dynamic innovation ecosystem, enabling Vietnam to create value in the future technological revolution.
Vu Quoc Huy, Director of the National Innovation Center (NIC), said that technical insights from representatives of international corporations have helped Vietnam identify transformation potential and reshape its AI and semiconductor industries.
The discussions also provided valuable perspectives on leveraging advancements in AI and semiconductors to promote sustainable growth. “Vietnam is ready to embrace this challenge,” Huy said.
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