Ernesto Torres Cantú, Citi’s head of International and a member of the group's Executive Management Team, made the remarks during a meeting with Vietnam's Deputy Prime Minister Nguyen Van Thang in Hanoi last Friday.

Citi sees significant opportunities to contribute further to Vietnam’s efforts to achieve its growth targets, Cantú was quoted by the Vietnamese government's news portal as saying.

He thanked Vietnamese authorities for their strong support, adding that this assistance would enable Citi to make a greater contribution to the country’s development.

Citi’s leadership also praised the Vietnamese government for its efforts to improve the business environment, saying the group’s engagement with regulators had become increasingly convenient and open.

Bringing international investors to Vietnam is Citi's mission, Cantú said, adding that the group stood ready to help Vietnamese businesses access international markets.

Deputy Prime Minister Thang said the government was firmly committed to achieving average annual GDP growth of at least 10% during the 2026-2030 period while maintaining macroeconomic stability.

The economy had shown very positive signs over the first nine months of the year and received strong assessments from international organizations, he said. Realized foreign direct investment exceeded $21 billion during the period, up 76.4% from a year earlier, "reflecting strong foreign investor confidence in Vietnam’s business environment".

He praised Citi for maintaining stable, safe and efficient operations in Vietnam and complying with local laws, demonstrating "a cooperative approach and proactive risk management".

The deputy prime minister thanked Citibank for providing modern financial solutions in corporate banking, trade finance and cash management, as well as for implementing community programs focused on education and skills development that deliver practical benefits to Vietnamese society.

As Vietnam and the United States continue to advance their Comprehensive Strategic Partnership, Vietnam values long-established U.S. businesses such as Citi and hopes they will continue to serve as a bridge for attracting high-quality investment and helping Vietnamese companies connect with global financial networks, Thang said.

The Vietnamese government values foreign businesses, listens to their concerns and stands ready to facilitate long-term, effective investment and operations in the country, particularly by major U.S. financial institutions such as Citi, he added.

Thang said Vietnam’s ambitious growth targets required the mobilization of all available social resources, including funding from international financial institutions.

He called on Citi to continue sharing international expertise and working closely with Vietnamese regulators on digital transformation, international payments and solutions to support sustainable business development.

The Vietnamese leader also urged Citi, as a global financial institution, to support Vietnam in developing the International Financial Center, located in both Ho Chi Minh City and Danang.

He further called on the bank to convey to the U.S. government Vietnam’s goodwill and commitment to cooperation in efforts to conclude negotiations on a reciprocal, fair and balanced trade agreement at an early date, in the interests of businesses and people in both countries.

Noting that Vietnam will host APEC 2027, Thang called on Citi to send a senior leadership delegation to the APEC CEO Summit and work closely with the Vietnamese government to ensure the successful organization of the event.

APEC 2027 is expected to help Vietnam further open its markets, attract investment, facilitate technology transfer, and strengthen the competitiveness of its economy, he added.

Citi set its first footprint in Vietnam before 1975, and over the years expanded its full suite of offerings including corporate and investment banking, capital markets and transactional banking services.

On March 1, 2023, Citi announced it had completed the sale of its Vietnam retail banking and consumer credit card businesses to Singapore's United Overseas Bank Limited (UOB), which included the transfer of approximately 575 related staff.