Prime Minister visits Luxembourg Stock Exchange
VGP – Prime Minister Pham Minh Chinh visited Luxembourg Stock Exchange (LuxSE) on Friday as part of his on-going official visit to Luxembourg.
In his remarks at LuxSE, Prime Minister Pham expressed his wish to boost cooperation with Luxembourg in advancing the development of Viet Nam's stock market, particularly in such aspects like policy-making, digital transformation, and human resource development.
Pham also witnessed the signing of an agreement between LuxSE and the Viet Nam Exchange (VNX), which is expected to further attract investors to the Southeast Asian country's stock market.
Luxembourg is one of the fastest growing economies in the European Union, with the GDP growth accelerating to 3.3 percent in 2019 and 6.5 percent in 2021.
Service sector in general and finance-banking services in particular are the key driving force for Luxembourg' impressive growth, contributing over 80 percent to the country.
LuxSE, which has played a key role in Luxembourg' economic success story, was established in 1928 and inaugurates its first trading session in 1929.
During our first two decades in operations, LuxSE focused on European issuers that listed securities denominated in local European currencies. It opened up to global markets in 1953 when we listed the first bond in US dollars, issued by the World Bank. To this day, the World Bank is one of our leading issuers.
Following the introduction of the European Currency Unit (ECU) in 1979, LuxSE lists the first bond denominated in ECU, issued by SOFTE. On 1 January 1999, ECU was replaced by the euro.
In July 2007, LuxSE became the first exchange in the world to list a green bond – issued by the European Investment Bank (EIB) to finance part of its climate projects. A number of issuers have listed since; in early 2016 LuxSE marked the listing of the 100th green bond.
LuxSE hits the 1,000 sustainable bonds mark in May and celebrates its 5th anniversary in September 2021. The platform expands its scope with the Climate Bonds-LGX Climate Aligned Issuers section in partnership with the Climate Bonds Initiative, and the LGX DataHub expands its coverage to close to the entire universe of the world's listed sustainable debt securities./.