With more than 30 years of experience in the fields of strategic and financial consulting, especially knowledgeable and attached to Asia, and more than 5 years leading Techcombank to pioneer digital transformation in the banking industry, CEO Jens Lottner has shared and contributed valuable, highly practical and effective applications, contributing to the orientation of technological solutions in the process of building a Financial Center in Vietnam.

At the conference, experts also suggested some directions 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 believes that there are three product areas in which Vietnam can thrive. 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 of its national energy needs with renewable energy. However, to achieve this, Vietnam will need a huge investment in infrastructure.

The second strength, according to Mr. Jens Lottner, is digital financial services. In Vietnam, one in three people owns digital assets or cryptocurrencies. He believes that Vietnam has a lot of potential to develop digital financial products, including real digital assets and tokenized assets as well as digital currencies. It is businesses that need to use these technologies, and it is these practical needs that will drive innovation in the digital financial sector.

Third is trade finance. This is an area that, according to Mr. Jens, is growing strongly and can be completely rethought 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 shipping thanks to blockchain technology. Thanks to that, all relevant financial information will be fully integrated into the supply chain without any additional procedures," Mr. Jens said.

None of these three areas have been completely dominated by any major financial center. Therefore, Techcombank’s CEO assessed that Vietnam has suitable conditions, including practical needs, talented people, and intellectual potential to develop these three areas.

At the conference, leading experts from 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 Positioning the Financial Center in Vietnam, Mr. Jens Lottner, as CEO of the leading private bank in Vietnam and leader in technology investment and digital banking, continued to share the opportunities and challenges from the perspective of domestic banks in this process.

In the current context of Singapore, a financial center that can conduct foreign transactions, the establishment of an international financial center in Vietnam brings many opportunities for domestic banks. In addition to the specific legal mechanisms prescribed by the State Bank and relevant agencies, domestic banks themselves must upgrade their standards and integrate international payment transactions to meet new requirements such as Basel III, IRF9, etc. This requires domestic banks to invest more in building internal capacity towards international standards, as Techcombank is still striving to do.

The establishment of an international financial center in Vietnam could create conditions for Vietnamese banks and businesses to make foreign syndicated loans domestically instead of abroad as is currently the case. This also opens up opportunities for domestic banks to mobilize large capital sources for business, Mr. Jens added.

The CEO also highly appreciated the opportunities for applying Blockchain in unified financial management as TCBS is implementing, which will also be included to help IFC operate better. 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 for customers in Vietnam... All of these will contribute to the development of products and services to shape IFC.

The CEO's participation and contribution to the national strategy once again affirms Techcombank's leading position as a bank, committed to accompanying the country in effectively implementing the sustainable development orientation, aiming to build Vietnam's position in the global economy.

Source: https://thanhnien.vn/viet-nam-co-the-tan-dung-nhung-loi-the-de-phat-trien-trung-tam-tai-chinh-1852504031629261.htm