{
  "id": 8011572,
  "title": "Trust and transparency take centre stage at VIFC forum",
  "url": "https://urgent.news/2026/09/17/trust-and-transparency-take-centre-stage-at-vifc-forum",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-17T10:56:08.000Z",
  "source": {
    "name": "Vietnam Investment Review",
    "slug": "vietnam-investment-review",
    "url": "https://vir.com.vn/trust-and-transparency-take-centre-stage-at-vifc-forum-160937.html"
  },
  "original_language": "en",
  "account": "On September 14, during the 25th anniversary celebration of ACCA Vietnam, a high-level forum was held in Hanoi to discuss Trust and Transparency in Vietnam's International Financial Centre (VIFC). Helen Brand, ACCA's chief executive, emphasized that VIFC could serve as a vital platform to connect Vietnam's investment needs with international pools of sustainable capital. She expressed strong support for the development of high-quality international sustainability reporting standards, including those from the International Sustainability Standards Board. These standards create a common language among businesses, investors, regulators, and financial institutions, improving decision-making and building confidence in sustainable finance.\n\nFor VIFC to succeed, ACCA's chief executive highlighted the importance of a strong legal and regulatory foundation, effective governance and risk management, high-quality financial and sustainability information, and professionals with the necessary skills and ethical judgment. This is where the accountancy profession plays a crucial role.\n\nHelen Brand, chief executive of ACCA, noted that to address investor access and confidence in VIFC, three key issues must be tackled. First, policy predictability is essential, requiring a stable, structured, and consistent regulatory system. Investors need a clear understanding of the framework to make informed decisions and benefit from their investments. Second, VIFC members must be able to generate reliable information, starting with the financial reporting standards framework. The Ministry of Finance's decision in August to allow the use of International Financial Reporting Standards (IFRS) is a positive step, as is the government's July scheme for comprehensive financial market reform. This consistency will help reconcile and compare the financial statements of VIFC members with other components of the Centre.\n\nThe third issue is the reliability of information, particularly in green finance. Vietnam issued its Green Taxonomy in 2025, providing criteria for classifying projects. However, the next step is developing the reporting framework and establishing assurance mechanisms for those reports to enhance the reliability of financial information.\n\nDinh Hong Hanh, a partner in the financial services leader at PwC Vietnam, identified three key issues related to investor access and confidence in VIFC. The first is policy predictability, which requires a stable regulatory system. The second factor is the ability of VIFC members to generate reliable information, starting with the financial reporting standards framework. Lastly, the reliability of information is crucial, including reporting related to green finance. Hanh emphasized the importance of developing reporting frameworks and assurance mechanisms to make financial information more reliable.\n\nTran Minh Hoang, relationship manager at VPBank, suggested that VIFC's role should not be limited to creating additional frameworks or procedures for financial institutions. Instead, VIFC should provide practical mechanisms to help banks scale up capital raising and support the economy. In the short term, Hoang proposed that VIFC should focus on standardizing and aligning Vietnam's Green Taxonomy framework with international green principles and standards. This would help reduce the need for companies and banks to repeatedly explain their standardisation to international lenders when seeking international funding.\n\nHoang also stressed the importance of developing measurement, reporting, and verification (MRV) mechanisms to support companies in meeting and maintaining green criteria throughout the life of a loan or investment. When investors provide long-term loans or invest in bonds, they need assurance that companies can meet specific criteria over time. This alignment between international green principles and Vietnam's criteria is crucial for reducing the need for re-verification or adjusting portfolios when seeking international funding.",
  "summary": "Policy predictability the reliability of financial information and a green standards framework aligned with international practices are emerging as key foundations for Vietnam s International Financial Centre to build investor confidence and expand its ability to attract international capital flows",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}