The Vietnam Investment Summit 2024 event took place in Ho Chi Minh City on December 5, co-organized by Techcombank , bringing perspectives and opportunities for a new investment era in Vietnam.

Fintech plays a very important role

Assessing investor behavior, Mr. Jens Lottner - General Director of Techcombank (Hose: TCB) said that in the period of 2020-2021, investor confidence was quite positive and they were still optimistic about the future, even during the Covid pandemic. In 2022-2023, despite the fluctuations, he still believes that investors will continue to be optimistic.

“The middle-income population will continue to grow and there is still room for further expansion. TCB’s services will be further enhanced, focusing on providing what customers need most, meeting their financial and non-financial needs.

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We can learn from surrounding markets, for example Thailand. Many services and products that have been seen in Thailand will be seen in Vietnam. We all agree that Vietnam's development speed is very fast compared to other countries," Mr. Jens Lottner added.

According to Mr. Jens Lottner, Fintech plays a very important role. Especially in awakening traditional banks to always pay attention to keep up with technological developments. "I believe that in the future, Fintech startups and traditional banks will have harmony and resonance between the two sides to strengthen each other's strengths."

Banks - the driving force for economic development

According to Mr. Jens Lottner, in the current context, Vietnam needs to prepare for many different scenarios of economic development.

“Personally, I believe that Vietnam is the place to produce the products that the world needs. From there, we must attach to low-cost production. Vietnam is currently a great destination for those needs. Of course, when the economy grows, the banking and finance sector is the driving force for that development,” Mr. Jens Lottner shared.

According to him, when investing, it is necessary to look more broadly from the context of business management to the context of national management operators, to calculate whether the investment is effective or not.

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Techcombank's CEO believes that if you want to differentiate and compete with your competitors, you need to identify your own advantages.

Techcombank has capacity and technology, but is still limited in terms of human resources. With the current human resources, we must focus on training, how to upgrade consulting capacity to support customers better.

It is also important to be able to replicate the technology to reach every employee, and from there to every customer. Empowering employees, especially those who directly advise customers, is an important aspect that banks should focus on.

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Vietnamese people will get richer and more and more people will have the money to invest. Techcombank must find a way to approach this group and build trust with them.

Talking about how to diversify investment tools in Vietnam, Mr. Jens Lottner said that when investment channels are limited, the asset market (lacking diversity) becomes unstable and easily creates bubbles.

“I think with the current legal framework, we have enough room to create and diversify products. In particular, securities companies need to create more differentiated products to meet the needs and risk appetite of more investors.

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Product building needs to be customer-centric and we must pay attention to proper risk management.

We should also focus on creating investment funds aimed at promoting the domestic economy and connecting these funds with international investors; in this, there must be a combination of the private sector and the State to develop legal frameworks,” said Mr. Jens Lottner.

Banks connect with supporting factors for the economy

At the event, Ms. Nguyen Hoai Thu - CEO of Securities Division of VinaCapital Fund Management JSC also said that the driving force of economic growth in 2025 will be different from the previous 2 years. Accordingly, production and export will no longer be the main driving force but will mainly come from public investment.

In addition, the Government will have appropriate policies to stimulate the real estate market, helping the market recover. When the real estate market recovers, it will bring more excitement to consumers, thereby indirectly helping domestic consumption grow.

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“Vietnam’s resilience is much better than other countries, for example, after 2 years of Covid, growth is still positive and the economy still receives FDI while many other ASEAN countries have negative growth. I believe that a GDP growth rate of 6.5% in 2025 is feasible, with a growth rate of 8%, the Government may introduce many new policies in the following months to achieve this target,” Ms. Thu added.

Mr. Nguyen Duc Hoan - General Director of ACB Securities Company (ACBS) acknowledged that the Government is determined to streamline the apparatus, improve the administrative apparatus to create policy mechanisms for domestic enterprises and the investment environment, attracting FDI into Vietnam. To achieve GDP growth of 7-8%, it is necessary to improve infrastructure (public investment), and the Government is currently doing so very drastically.

Bui Huy