The prime minister discusses cooperation with Citi Asia-Pacific CEO

Also present at the meeting were Vietnam’s Minister of Planning and Investment, the Minister of Industry and Trade, the State Bank Governor, and Vietnam’s Ambassador to the US. Babej was joined by other leading US multinational CEOs including Visa Chairman Al Kelly and S&P president Doug Peterson.

Payments, capital markets opportunities, and sustainability were areas covered during the meeting. Citi is partnering with many governments around the world to support them along with its own transition to net-zero.

One very good example of that is the MoU launched between Citi and the Vietnam Ministry of Natural Resources and Environment on environmental, social, and governance financing last week.

The agreement focused on some of the specific areas where Citi can assist the government in scaling the funding necessary to help meet its net-zero objectives.

Specific areas include:

- Carbon pricing and scaling up carbon offset markets. Vietnam has some excellent opportunities for carbon offset projects and Citi teams are looking closely at this.

- Blended finance with private and public capital for sustainable projects. Vietnam is one of the focus countries where these discussions are active.

- Generating the right data to allow investors to identify sustainable assets and understand how businesses plan to reach net-zero.

PM Chinh discussed the possibility of cooperation with Citi, especially in the areas of non-cash payments, capital markets, climate change, and energy transition.

The meeting underlined the strong relationships and dialogue Citi has with relevant stakeholders across the franchise in Vietnam and its commitment to further support both local and multinational clients in the country.