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• 2025
• • 25 March
  • By Gilles DA COSTA
  • 
  • https://luxdev.lu/en/news/rof/ben BEN/005
  • Inclusive and innovative finance
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  BÉNIN - Lancement officiel du programme Finance inclusive et innovante

  Le programme Finance inclusive et innovante a été officiellement lancé le jeudi 20 mars 2025 à Cotonou lors d'une cérémonie officielle. Doté d'un budget de 10 MEUR, ce programme comprend plusieurs composantes, dont l'éducation financière et la protection des clients des systèmes financiers décentralisés à travers les guichets uniques de protection sociale, composante qui a également été lancée à cette occasion.

  L'événement a été présidé par Madame Véronique TOGNIFODE, ministre des Affaires sociales et de la Microfinance, en présence de Monsieur Joseph SENNINGER, chargé d'affaires en pied du Grand-Duché de Luxembourg au Bénin, et de Madame Lyn VOEGELE, représentante résidente de LuxDev Bénin-Togo.

  De gauche à droite : Joseph SENNINGER, Véronique TOGNIFODE et Brice DANSOU, directeur général de la Microfinance (au sein du ministère des Affaires sociales et de la Microfinance) et directeur national du programme Finance inclusive et innovante - Copyright : ministère des Affaires sociales et de la Microfinance du Bénin

  En marge de cette cérémonie, les partenaires du programme ont fait le point sur l'avancement des activités, dont le déploiement a débuté au premier trimestre 2024.

  Une composante-clé : l'éducation financière via les guichets uniques de protection sociale

  Avec un financement de 1,909 MEUR par le Luxembourg, la composante dédiée à l'éducation financière a pour objectif d'améliorer les connaissances et compétences financières et digitales des populations. Sa mise en œuvre, prévue jusqu'’à fin 2026, ambitionne les résultats suivants :

  • formation de 153 agents du ministre des Affaires sociales et de la Microfinance en éducation financière et en microfinance ;
  • recrutement, déploiement et coaching de 48 conseillers en microfinance au sein des guichets uniques de protection sociale ;
  • réalisation de 15 000 sessions de formation par les guichets uniques de protection sociale ;
  • formation et assistance d’au moins 450 000 bénéficiaires en éducation financière ;
  • diffusion de 18 émissions télévisées sur les droits et devoirs des citoyens ;
  • diffusion de 168 émissions radio pour sensibiliser les clients des systèmes financiers décentralisés.

  Un impact durable sur l'autonomisation des populations

  L'un des objectifs majeurs de cette initiative est de positionner les guichets uniques de protection sociale comme des centres de référence en éducation financière. Ils joueront un rôle essentiel dans l'autonomisation économique des populations vulnérables et la construction d'une société plus équitable, résiliente et prospère.

  Les guichets uniques de protection sociale sont des structures déconcentrées du ministère des Affaires sociales et de la Microfinance présents sur l’ensemble du territoire. Ils ont pour mission principale de renforcer la résilience économique et sociale des populations face aux chocs socio-économiques, ce qui inclut l’intégration des activités génératrices de revenus, l’éducation financière et la sensibilisation aux microcrédits.

  Le programme Finance inclusive et innovante constitue ainsi une avancée majeure dans la promotion de la finance inclusive et l'accompagnement des populations vers une meilleure gestion de leurs ressources financières.

  Le programme Finance inclusive et innovante est financé par le Grand-Duché de Luxembourg et mis en oeuvre par LuxDev, l'agence luxembourgeoise pour la Coopéaration au développement.

  ↑ To the top
• • 11 March
  • By Gilles DA COSTA
  • 
  • https://luxdev.lu/en/news/rof/ben BEN/005
  • Inclusive and innovative finance
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  BÉNIN - Lancement officiel du projet pilote d'assurance agricole

  Le 4 mars 2025, le gouvernement du Bénin a officiellement lancé un projet d’assurance agricole à indice de rendement, visant à renforcer la résilience des petits exploitants agricoles face aux effets du changement climatique. La cérémonie, qui s’est tenue à Cotonou, a réuni des représentants du gouvernement, des partenaires techniques et financiers ainsi que des acteurs du secteur agricole.

  Mis en œuvre par le Fonds national de développement agricole, ce projet vise à assurer 100 000 agriculteurs d’ici au 31 décembre 2025. Il doit fournir une couverture aux producteurs de riz, de coton ainsi qu’aux éleveurs de bétail sur l’ensemble du territoire béninois. L’assurance agricole à indice de rendement repose sur l’utilisation de données climatiques et de rendements historiques pour déterminer automatiquement les indemnisations en cas de pertes agricoles, offrant ainsi un dispositif plus réactif et adapté aux réalités du terrain.

  

  Un financement pluridimensionnel

  Le projet pilote est doté d’un budget de 2 340 590 457 FCFA (soit 3,5 MEUR), financé à hauteur de 80 % par le gouvernement du Bénin, la Coopération luxembourgeoise à travers le programme Finance inclusive et innovante, ainsi que la Coopération suisse. Les 20 % restants sont financés par les contributions des bénéficiaires eux-mêmes.

  Une implication du secteur privé

  Deux compagnies privées spécialisées dans l’assurance participent à la mise en œuvre de cette initiative : NSIA Assurance et PULA (InsurTech suisse spécialisée dans l’assurance agricole). Ces entreprises joueront un rôle clé dans la gestion des contrats d’assurance, l’analyse des données climatiques et le déploiement des indemnisations en cas de pertes agricoles.

  Premiers bénéficiaires déjà indemnisés

  La cérémonie de lancement a également été marquée par la remise d’un chèque de 106,945 millions de FCFA (soit 163 037 EUR) à 3 000 producteurs ayant subi des pertes de récoltes en 2024 en raison de conditions climatiques défavorables. Cette indemnité représente une première concrétisation du dispositif et une preuve tangible de l’engagement du gouvernement et de ses partenaires à protéger les producteurs agricoles contre les aléas climatiques.

  Un tournant pour le secteur agricole béninois

  Ce projet d’assurance agricole constitue une avancée majeure pour le secteur agricole béninois, qui représente près de 30 % du PIB national et emploie plus de 70 % de la population active. En offrant une protection financière contre les pertes de production, cette initiative vise à encourager l’investissement dans l’agriculture, à sécuriser les revenus des exploitants et à renforcer la sécurité alimentaire du pays.

  Avec cette nouvelle assurance, le Bénin fait un pas de plus vers une agriculture plus résiliente et mieux adaptée aux défis climatiques du XXI^e siècle.

  Le programme Finance inclusive et innovante est financé par le Grand-Duché de Luxembourg et mis en oeuvre par LuxDev, l'agence luxembourgeoise pour la Coopération au développement.

  ↑ To the top
• • 4 February
  • By Athena VASSILOPOULOS
  • 
  • https://luxdev.lu/en/news/rof/rwa RWA/024
  • Inclusive and innovative finance
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  RWANDA - Path to sustainable finance: building skills for the future

  On January 24, 2025, as part of the project supporting the development of the Kigali International Finance Centre (KIFC), the Luxembourg Green Exchange, in collaboration with the Rwanda Stock Exchange (RSE), hosted a training session titled "Sustainable Debt Instruments and Green Taxonomies". This initiative aimed to strengthen the capacity of the KIFC and its stakeholders to position Rwanda as a leading destination for sustainable finance.

  Over 60 participants from the KIFC ecosystem attended a dynamic training session led by Paul Chahine, the Sustainable Finance Manager at the Luxembourg Stock Exchange (LuxSE) and lead lecturer at LGX Academy. Launched in 2020, LGX Academy was created to enhance sustainable finance education for professionals, primarily in Luxembourg, by promoting a collaborative learning environment. During this session, participants delved into sustainable debt instruments, including Green, Social, Sustainability, and Sustainability-Linked Bonds, all of which are crucial for raising capital to support projects with both environmental and social impact.

  Paul Chahine (LuxSE), Chiara Caprioli (LuxSE), Pierre Celestin Rwabukumba (RSE), Laura Bierer (LuxDev), Valence Mushimwe (LuxDev)

  Exploring sustainable debt instruments

  The training emphasised the International Capital Market Association’s Green Bond Principles, which ensure transparency and accountability through key areas such as project selection, fund management, and impact reporting. Effective reporting plays a crucial role in maintaining investor confidence and tracking the positive outcomes of financed projects.

  To bring these concepts to life, case studies from Rwanda, Tanzania, and Ghana highlighted successful green bond issuances, showcasing real-world applications and lessons learned.

  

  Understanding green taxonomies

  A central theme of the session was the role of green taxonomies — classification systems that define environmentally sustainable economic activities. These frameworks help investors identify credible green projects, ensuring funds are directed toward initiatives that genuinely contribute to sustainability.

  For an investment to be considered "green", it must align with key environmental priorities (i.e., climate change mitigation, biodiversity protection, and resource efficiency). It should also contribute positively to biodiversity conservation and restoration, while adhering to social considerations that ensure fair labor practices and minimise negative social impacts. Additionally, it must not cause significant harm to other environmental objectives.

  Participant takeaways

  "The training has been highly valuable, particularly in highlighting the opportunities and challenges around green and social bonds. As a business development manager focused on attracting investment to Rwanda, I’ve realised the need for larger ticket sizes in bonds to attract international investors. While Rwanda’s market is small, there’s significant potential to develop green bonds that serve the broader African market, leveraging the infrastructure already in place here. The session also shed light on the lack of social bonds in Africa, with only two issued in South Africa. Given the many social projects across the continent, this is a gap we need to address. Investment is crucial, and while the market size remains a challenge, we must explore more commercialised solutions to social issues, moving beyond reliance on grants, as seen in the current landscape", told Cindy Ruvebana, Business Development Manager at Rwanda Finance.

  This training marked project's first in-person event on sustainable finance since the initial virtual session in December 2024. The strong engagement and insightful questions from participants highlighted their dedication to deepening their expertise in the field. Beyond enhancing knowledge, this initiative underscores the continued collaboration between Rwandan and Luxembourgish stakeholders, promoting knowledge exchange and supporting the growth of sustainable finance.

  The Support to the development of Kigali International Finance Centre project is financed by the Grand Duchy of Luxembourg and implemented by LuxDev, the Luxembourg Development Cooperation Agency.

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• 2024
• • 25 June
  • By Frank WOLFF
  • 
  • MAE/019 ALC/002
  • Socio-economic development Inclusive and innovative finance
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  AMÉRIQUE LATINE ET CARAÏBES - Retour sur le "Foro Región MIPYME 2024" et le lancement du Female Entrepreneurship Fund au Salvador

  Du 19 au 21 juin 2024, une délégation luxembourgeoise a participé au Foro Región MIPYME 2024 à San Salvador.

  Ce forum, soutenu par la Coopération luxembourgeoise via le programme régional pour la promotion de l’entrepreneuriat des femmes - phase II (PREFEM) a réuni des acteurs-clés du secteur public, privé et académique de l’Amérique centrale et de la République dominicaine. Il a abordé trois thèmes stratégiques pour le développement des micro-, petites et moyennes entreprises (MPME) dans la région : l'échange commercial, l'accès au financement et l'amélioration de la productivité. Deux thèmes transversaux ont également été discutés : l'entrepreneuriat féminin et la transformation numérique.

  Le forum a été organisé par le CENPROMYPE (Centre régional de promotion des MPME), une organisation créée en juin 2001 dans le cadre du Système d'intégration centraméricain (SICA). Son objectif général est de contribuer au développement productif des MPME et d'améliorer la qualité de vie et l'emploi des personnes qui y travaillent.

  La Coopération luxembourgeoise, représentée par M. Charles SCHMIT, chargé d’affaires e.p. de l’Ambassade du Luxembourg au Costa Rica, a été mise à l'honneur lors de cet événement, notamment lors de la cérémonie officielle de lancement régional du Female Entrepreneurship Fund (FEF). Ce fonds d'impact luxembourgeois, conçu dans le cadre du PREFEM et financé par le ministère des Affaires étrangères et européennes, de la Défense, de la Coopération et du Commerce extérieur, vise à soutenir les MPME dirigées par des femmes dans la région du SICA. Fruit d'un partenariat multipartite, le FEF a été lancé au Luxembourg lors d'un événement organisé par IforD.

  

  

  LuxDev était quant à elle représentée par Thierry GIRARD, chargé de programmes au Salvador, Francesca RANDAZZO, experte en finance durable et inclusive, Frank WOLFF, représentant résident pour l’Amérique latine et les Caraïbes, ainsi que par l'équipe locale du PREFEM.

  

  Le programme régional pour la promotion de l’entrepreneuriat des femmes - phase II est financé par le Grand-Duché de Luxembourg et mis en oeuvre par LuxDev, l'agence luxembourgeoise pour la Coopération au développement et CENPROMYPE.

  Copyright photos : CENPROMYPE

  ↑ To the top
• • 6 June
  • By Jeanne RENAULD
  • 
  • MAE/019 ALC/002
  • Socio-economic development Inclusive and innovative finance
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  An impact fund to support women entrepreneurs in Central America

  On Friday 24 May 2024, the Female Entrepreneurship Fund (FEF) was launched at an event organised by IforD in Luxembourg. As a result of a multi-stakeholder partnership, this blended finance impact fund is helping to shape the future of female entrepreneurship in Central America by improving the financial inclusion of small and medium-sized enterprises (SMEs) run by women.

  

  

  The FEF was created as part of the Regional Programme for the Promotion of Women's Entrepreneurship in Central America, financed by the Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade (MFA) and implemented by LuxDev, the Luxembourg Development Cooperation Agency, and CENPROMYPE, the Centre for the Promotion of Micro, Small and Medium-sized Enterprises of the Central American Integration System (SICA). Luxembourg’s Development Cooperation has chosen to invest four million euros in the FEF, to incentivize the private sector to contribute more systematically and strategically to its development objectives.

  “Ensuring financial inclusion of female entrepreneurs in Central America is essential for catalyzing economic development and achieving the Sustainable Development Goals, as it enhances innovation, alleviates poverty, and advances gender equality. This is where the FEF will come in, which is why we, in line with our current projects in Central America, have decided to provide the initial sponsorship and the concept for setting up the technical assistance programme through LuxDev, our implementing agency", emphasises Christophe SCHILTZ, Director for Development Cooperation and Humanitarian Affairs.

  "CENPROMYPE and the Grand Duchy of Luxembourg have been working together on female entrepreneurship since 2018. The launch of the FEF is one more step in the consolidation of this strategic alliance in favour of women entrepreneurs in the SICA region", adds David CABRERA, Managing Director of CENPROMYPE.

  Promoting the economic autonomy of women entrepreneurs

  The FEF aims to strengthen the financial inclusion of women entrepreneurs and improve their access to financial products and services, enabling them to seize more market opportunities and thereby contribute to the region's development. In Central America, SMEs run by women are sorely lacking access to finance tailored to their needs and face a series of obstacles linked to the social and cultural biases that persist in the region. "The FEF is a key element in changing the way in which local financial institutions approach and assess the risks of women-led SMEs, thereby increasing the number and volume of loans and the amount of credit granted to them", explains Manuel TONNAR, Director General of LuxDev.

  Alongside the fund, a technical assistance programme will be set up. Its aim is to support the financial institutions in which the FEF invests, as well as the women-led SMEs that are clients of these institutions. By combining financial and technical support, the purpose is to demonstrate that it is possible to innovate, as a financial institution, to include the women-led SMEs segment in the investment portfolio, without damaging it. By combining financial and technical support, the purpose is to demonstrate that it is possible to innovate, as a financial institution, to include the women-led SMEs segment in the investment portfolio, without damaging it.

   

  

  CENPROMYPE promoter

  With its in-depth knowledge of the challenges faced by SMEs, the factors that determine their growth and the specific issues affecting women-led businesses, CENPROMYPE has positioned itself as a promoter of the FEF. "With a desire to build bridges between women-led businesses and the financial ecosystem, we identified the need to create a financial vehicle that would provide a sustainable response to the lack of funding for women entrepreneurs", David CABRERA points out.

  A first for LuxDev

  LuxDev, for its part, supported CENPROMYPE in the reflections that led to the structuring of the FEF. "LuxDev has already been involved in the management of a technical assistance facility for an impact fund. However, this is the first time we have contributed to the process of setting up a fund", emphasises Manuel TONNAR.

  A Luxembourg-regulated fund

  From a technical point of view, the FEF is part of SICAV IforD, a public limited company incorporated as an alternative investment fund, regulated in Luxembourg, and benefiting from the European passport. IforD's structure was particularly useful in setting the FEF up. In an increasingly complex regulatory environment, it is becoming more and more complicated for small funds such as the FEF to function alone. IforD, through its umbrella fund platform, offers a solution to navigate this environment. As funds and the ideas behind them grow, they can evolve into their own legal form. "IforD does not offer this as a service to the impact fund market but will actively involve itself in a select project where it can actively contribute. This is the case for FEF and we are excited to play our part in the development of the fund", says Kaspar WANSLEBEN, Director of Asset Servicing at iForD.

  Convincing other investors to join the fund

  As investment advisor, Total Impact Capital is responsible for identifying potential financial intermediaries in which the FEF could invest and for monitoring those in which it has invested. Using its knowledge of local financial institutions, Total Impact Capital will identify the banks, credit cooperatives and microfinance institutions best suited to increase access to credit for women-owned and led SMEs. It will then assess their ability to take on financing from FEF and structure the financing in the most appropriate way. Once a loan has been disbursed, it will monitor its performance, ensuring that the funding increases access to credit for women-owned and led SMEs and that it does so in a financially sustainable way.

  For the time being, LuxDev, on behalf of the MFA, is the anchor investor. "We expect other official donors and private foundations to join LuxDev in the most concessional tranche of capital. We then expect impact investors committed to the region to provide the commercial equity and debt capital", concludes John SIMON, Founder and Managing Partner of Total Impact Capital.

  

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• 2023
• • 3 February
  • By Jeanne RENAULD
  • 
  • Niger Office NIG/028 NIG/029 NIG/030 NIG/031 NIG/032
  • Education, vocationnal training and employment Water and sanitation Governance Inclusive and innovative finance
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  NIGER - Lancement officiel du Programme indicatif de coopération IV

  Ce vendredi 3 février 2023, à la salle de conférence de l’hôtel Noom à Niamey, s’est tenue la cérémonie officielle de lancement et de présentation des programmes du Programme indicatif de coopération (PIC) IV entre le Niger et le Luxembourg à Niamey. Cette cérémonie fait suite à la signature du PIC entre les deux pays en mai 2021, et à la formulation et signature des différents programmes du PIC en juillet 2022.

  

  D’une durée de quatre ans (2022-2026), le PIC IV vient en appui aux secteurs de l’éducation et de la formation, de l’emploi et de l’employabilité, de l’eau et de l’assainissement, de la gestion des finances publiques, de la finance inclusive ainsi que de la sécurité alimentaire, avec un financement total de 148,1 MEUR. 

  L’événement fut l’occasion de présenter la vision du changement du PIC IV et ses différents programmes mais également de fédérer les acteurs locaux, nationaux et internationaux qui contribuent à l’atteinte des objectifs que se sont fixés les deux gouvernements. 

  Présidée par le Secrétaire général du ministère des Affaires étrangères et de la coopération de la République du Niger, M. Ado Elhadji Abou, et le Directeur de la Coopération au développement et de l’Action humanitaire du ministère des Affaires étrangères et européennes luxembourgeois, M. Christophe Schiltz, la cérémonie a réuni les partenaires et amis de la Coopération luxembourgeoise au Niger.

  

  Étaient notamment présents les représentants des ministères sectoriels partenaires et les principaux partenaires d’appui du PIC IV, à savoir LuxDev, l’ONG ADA, le PAM, le FNUAP, le CICR ainsi que la Croix-Rouge luxembourgeoise.

  

  

  ↑ To the top
• 2021
• • 7 September
  • By Cam Do Hoang Le
  • 
  • Asia Office VIE/032
  • Inclusive and innovative finance
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  VIETNAM - Online training benefits during the Coronavirus pandemic

  Even though most of social and commercial activities in Vietnam are frozen during continuous lockdowns lasted by the turbulence of COVID-19’s Delta variant since late July this year, the Capacity Building in the Financial Sector – VIE/032 project managed to keep its activities go on with regular catching-ups with its counterparts and stakeholders. 

  

  Members of Group 1. The class was divided into 4 groups

  The last days of August, 2021 were marked by the first ever “Online Training-of-the-Trainers” course which aimed to consolidating online teaching skills for trainers of Securities Research and Training Center (SRTC) being under the management of the State Securities Commission (SSC) and having responsibilities to organize and implement researches, training and incentive training about securities, securities market, capital market, providing training services for organizations and individuals in securities fields.

  

  Participants work on slido.com as an example for virtual training practice

  This specific course came into reality despite face-to-face classes were impossible during the last few months whilst real need on online securities-relevant subjects from market learners soars (when people stay at home, more money is invested in stocks!), hence the needs for improving skills for trainers who deliver virtual courses fortifies. Not only SRTC trainers attended in the event, the target participants were extended also to visiting trainers from other market institutions such as Vietnam Securities Depository, Hanoi Stock Exchange, SSC, Securities Magazine and securities firm. This actually goes in line with the project document and plans of reaching out to wider groups of trainers in the entire capital market, who would be spreading their knowledge to employees within their organisations and other market players.

  

  Ice Breaking

  Sitting at their home offices across the currently quiet city of Hanoi, the trainees were introduced to and guided through various functions of the MS Teams itself and other training supporting platforms like Kahoot, Slido, Quizzi, Mentimeter and particularly MS Whiteboard for finance and securities contents. While some at the beginning showed their lack of confidence working with new software and sites, the training was confirmed informative and helpful with lot of interaction and practice. “Very interesting! We now know quite a bit of tips and I am happy there are still lots to be explored and applied. The trainer has been super supportive”, Mr. Minh Vu from Vietnam Securities Depository expressed. He was not the only one who appreciated such a course as Ms. Huong Nguyen, SRTC’s Deputy General Director and also a participant said when closing the course: “It is absolutely on-time for us and I could see clearly how it would help us: saving time and costs, reaching for more learners, making screen-to-screen classes much more lively.” “We have received remarkable funding from Luxembourg for many of our activities during the last two years and been so thankful for LuxDev and VIE/032’s meaningful supports”, she said her center would be more efficient and more market oriented in the coming time with “SRTC fully operational with digitalized resources and systems thanks to those great supports”.

  

  Participants attending Online Training-of-the-Trainers course, 25-26 August 2021

  Final evaluation of the course received very positive feedbacks and the demand for an advanced follow-up course was raised. Financial market has never been an easy playfield, even for those who are behind the podiums or with the whiteboards delivering lessons.

  The Capacity Building in the Financial Sector – VIE/032 project is co-financed by the Government of Vietnam and the Grand-Duchy of Luxembourg and is implemented by the Vietnamese State Securities Commission and LuxDev, the Luxembourg Development Cooperation Agency.

  ↑ To the top
• • 21 June
  • By Cam Do Hoang Le
  • 
  • Asia Office VIE/032
  • Inclusive and innovative finance
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  VIETNAM - The project VIE/032 continues supporting to Vietnam’s development of Financial Market Development Strategic Plan 2021-2025

  A virtual roundtable on “Vietnam Financial Market Development Strategic Plan 2021-2025, Vision to 2030" drawed attention of almost 50 speakers and advisors, including officials and technical experts representing such strategic economic and financial organisations of Vietnam as Central Institute for Economic Management or Department of Finance and Monetary from Ministry of Planning and Investment, National Institute for Finance and Department of the Insurance Supervisory Authority of Ministry of Finance, State Bank of Vietnam, State Securities Commission, Securities Companies, Insurance Companies, Commercial Banks.

  The event took place on 15 June 2021 and jointly organised by the National Financial Supervisory Commission (NFSC) and Project VIE/032 – Capacity Building on Finance Sector on both online and offline platforms. This was to ensure Vietnam government’s required distancing during the heat of Hanoi’s summer and fourth wave of COVID-19.

  

  
  Mr Hung Xuan PHAM opens the virtural roundtable

  The roundtable focused on: 

  • development model of financial markets in the coming time: bank-based or market-based (focusing on strong capital market development);
  • establishment of a Regional Financial Centre in Vietnam;
  • orientation and solutions to develop digital economy and digital banking (fintech);
  • promotion of fair competition and transparent information on financial market and protection of financial consumers; 
  • supervision and ensuring of safety and soundness of the financial system.

  
  _{Mr Kien LE from State Bank of Vietnam on his presentation on national finanancial market supervision standards}

  Based on opinions, advices and policy recommendations at the roundtable, NFSC would complement and finalise their Report on Strategy and Orientation for Vietnam Financial Market Development that would be submitted to the Prime Minister. 

  
  _{Financial and economic experts discussing protection of financial consumers in Vietnam}

  Being one of the project’s active stakeholders, in late 2019, NFSC received supports from the project for organising its annual National Financial Report Launching Workshop that was warmly welcomed by national and international financial and economic institutions, donors and press media. Since the 2020 event could not happen due to the global pandemic, NFSC saved this roundtable opportunity to collect and advocate ideas with top technical experts and professionals. Mr Hung Xuan PHAM - General Director of Financial Supervisory Policy Coordination and Research Department of NFSC and his colleagues expressed great appreciation to Luxembourg and LuxDev’s meaningful cooperation and supports so far, not only in organisation of these critical high-expertise events but also in other training and capacity building activities to the NFSC.

  
  Screen recorded 32 online participants attending the Roundtable

  The Capacity Building in the Financial Sector – VIE/032 project is co-financed by the Government of Vietnam and the Grand-Duchy of Luxembourg and is implemented by the Vietnamese State Securities Commission and LuxDev, the Luxembourg Developmen Cooperation Agency.

  ↑ To the top
• • 17 May
  • By Cam Do Hoang Le
  • 
  • Asia Office VIE/032
  • Inclusive and innovative finance
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  VIETNAM - Luxembourg continues supporting Vietnam’s Securities Market Development Strategy for 2021-2030

  With continual and fast growing stock market in Vietnam, Vietnamese securities regulators are paying their great attention to the next development of the Securities Market Development Strategy for 2021-2030 which is responsible by the State Securities Commission (SSC). The expected strategy heads to a more comprehensively structured, more open and integrated as well as more competitive plus resilient market. 

  ^{Virtual forums are quite efficient in gathering comments and opinions from experts all over the world during COVID-19 times.}

  To this effort under the VIE/032 project scope, Luxembourg has played key role and so far only a mobiliser of technical assistance in supporting this action. 

  From 06 to 19 April 2021 the SSC in Hanoi organized 07 continuous virtual meetings focused on various key topics including

  • securities trading markets and development of products;
  • securities registration, depository, clearing and settlement;
  • development of securities companies;
  • fund industry;
  • supervision, inspection and sanctions; and
  • international integration.

  The participants from Ho Chi Minh City Stock Exchange (HOSE), the Hanoi Stock Exchange (HNX) and the Securities Depository Centre (VSD), Securities Research and Training Center (SRTC) and technical departments of SSC attended the meetings. 

  

  ^{Sustainable and green finance attracted great attention from regulators and market stakeholders in Vietnam during elaboration process of Securities Development Strategy}

  The workshop was facilitated by international and regional advisors who are from the Association of the Luxembourg Fund Industry (ALFI), Luxembourg Institute of Directors, and Luxembourg Blockchain Association, the United States, and Thailand. The meetings provided the opportunities to the participants to exchange ideas, share best experiences and lessons learnt from world market as well as recommendations for the Vietnam’s market direction.

  The workshops discussed sustainable finance opportunities for Vietnam, in line with Ministry of Finance’s direction. This is also an obvious advantage from Luxembourg as a hub of global financial market, where Vietnam could much benefit from exploring and learning from its broad experiences and advanced practices. 

  According to Pierre Oberlé, Senior Business Development Manager at ALFI: “sustainable finance will become the norm and investors will be keen to pay or to integrate the additional costs that this type of product has to deal with.”

  ^{Luxembourg Fund Industry practice}

  Oberlé also pointed out in one of the virtual discussions with SSC that when it comes to attract foreign investors into the sustainable market in Vietnam, the country would first need to access what type of assets its currently has, which meet the sustainable finance criteria and norms in different jurisdictions. Additionally, Vietnam ought to develop the expertise necessary for the sustainable financial market development, in terms of market capacity and human resource training.

  As a number of complex issues were raised, discussed and cleared during these online forums thanks to the straightforward exchanges by the participants and the advisors, the SSC gladly welcomed all comments and recommendations contributed. Mr. Pham Hong Son, Vice Chairman of SSC who chaired the overview session expressed: “we highly appreciated the support from Luxembourg Government to the SSC of Vietnam, that has been well managed and implemented by LuxDev, particularly shown via these interactive and fruitful workshops. We have learnt a lot.”

  ^{A brief overview of Vietnam Asset Management Market Share}

  The Strategy is now being consolidated as it is expected to receive comments from relevant market stakeholders in May and thereafter to be submitted for approval from Ministry of Finance on 2nd June 2021.

  The Capacity Building in the Financial Sector – VIE/032 project is co-financed by the Government of Vietnam and the Grand-Duchy of Luxembourg and is implemented by the Vietnamese State Securities Commission and LuxDev, the Luxembourg Development Cooperation Agency.

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• 2020
• • 2 July
  • By Do Hoang Le Cam
  • 
  • Asia Office VIE/032
  • Inclusive and innovative finance
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  VIETNAM - Improving securities knowledge through online training

  As an immediate response to the COVID-19 pandemic, a first online course was organized by the Securities Research and Training Center (SRTC), under the State Securities Commission of Vietnam (SSC), with funding for training equipment and digitalised content provided by Project VIE/032 – Support Vietnam’s Securities Market Consolidation and Improve Training Capacities. The course on “Law on Securities and Stock Market” has been on the wish list of many market participants since the beginning of the year, when the virus outbreak started to prevent all gatherings.

  Mrs. Ta Thanh Binh – First “online” trainer for the SRTC “Law on Securities and Stock market” course

  The training not only complied with the requirement of social distancing, but also serves as a milestone for the dissemination of securities knowledge for the SRTC’s first online dissemination activity regarding securities knowledge. Mrs. Ta Thanh Binh, Trainer and General Director of the Market Development Department of SSC, stated that “Investors or those who need a certificate to perform as market practitioners will have access to the required knowledge in the most convenient way, which is also more widely disseminated. Students are excited about the convenience and the time gained with this form of learning form, which is both trendy and necessary, especially for those who come from remote geographical areas”.

  

  

  The digitalisation of the securities knowledge training programs actually has been a part of SRTC’s strategic plan for a while, but was not realised until VIE/032 stepped in to support the centre to keep up with a modern teaching & learning style and the high demand of learners. In the near future, more trainings will be conducted by using the technical infrastructure supported by the project with the aim of improving the quality and of diversifying the training products of SRTC, given that it is the only securities training institution for the time being. Practitioners and investors now have a better choice of courses with flexible timeframes and better fees.

  

  

  On the opening day of the course – a milestone for SRTC - on behalf of a beneficiary, Mr. Hoang Manh Hung, Director, was happy to state that his centre “will apply information technology to deliver knowledge to the web system and provide software for students, and that the knowledge will be accessible for not only domestic investors but also international investors who consider investments in Vietnam.”

  The training course titled “Law on Securities and Stock Market” takes place at 17:30 – 21:30 on Mondays, Wednesdays, and Fridays between 10 June and 10 July 2020.

   

   

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