Promoting connectivity and cooperation between Vietnam and South American countries in currency production

Promoting connectivity and cooperation between Vietnam and South American countries in currency production: Mr. Lương Ngọc Anh, Chairman of Q&T, takes a commemorative photo with South American Ambassadors. (Photo: Ngọc Anh)

Attending the program were Mr. Luong Ngoc Anh, Chairman of Q&T Hi-tech Polymer; Argentina's Ambassador to Vietnam, Marcos Antonio Bednarski; Colombia's Ambassador to Vietnam, Camila María Polo Floréz; Dominican Republic's Ambassador to Vietnam, Reinaldo Rafael Espinal Núñez; and Panama's Ambassador to Vietnam, Nubiela Yanarith Ayala Modes.

Speaking at the meeting, Chairman of Q&T Hi-tech Polymer Luong Ngoc Anh expressed the honor of welcoming the Ambassadors to visit the Q&T factory. He affirmed that this is a valuable opportunity for Vietnam and South American countries to connect, exchange, and discuss significant advancements in currency production, especially the shift from paper to polymer money.

Mr. Luong Ngoc Anh, Chairman of Q&T Hi-tech Polymer, affirms that the working session is a valuable opportunity for Vietnam and South American countries to connect, exchange, and discuss significant advancements in currency production. (Photo: Ngoc Anh)

According to Mr. Luong Ngoc Anh, “this transition is not only a global trend but also a strategic move to enhance anti-counterfeiting capabilities, extend the lifespan of currency, optimize issuance costs, and contribute to environmental protection. Polymer money is much more durable than paper money, helping reduce printing and maintenance costs; at the same time, the environmentally friendly material aligns with sustainable development commitments.”

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However, the Q&T Chairman also pointed out a challenging reality: current polymer currency production technology is dominated by a few large corporations, creating significant barriers for countries wishing to modernize their monetary systems. “Limited access to technology and resources is causing difficulties for many countries in developing their currency,” he emphasized.

In this context, Mr. Luong Ngoc Anh proudly announced that the polymer substrate developed by Q&T has been trusted and used by the Vietnam National Printing House. The product has been officially circulated and received very positive feedback from the public and experts. This is clear evidence of Vietnam's technological autonomy and international cooperation potential when “we no longer depend on external resources for this crucial process – contributing to national monetary security.”

Additionally, based on the motto “Together for Better,” Q&T Chairman called for international cooperation with the aspiration to build a fairer world where knowledge and technology are shared to overcome common challenges.

“Q&T is ready to share technology, experience, and technical support with countries wishing to develop polymer substrate production systems for currency. We can jointly enhance internal capabilities and build a more autonomous and sustainable future,” Mr. Luong Ngoc Anh expressed confidence.

Particularly, Chairman Luong Ngoc Anh also emphasized the crucial role of diplomats in this process: “You are the bridge of friendship and cooperation between countries, and an important factor in promoting an environment of innovation and development. Your support and connections will be significant in shaping the future of the polymer currency industry in the region.”

Q&T Hi-tech Polymer representatives introduce some advanced technological solutions. (Photo: Ngoc Anh)

During the working session, Q&T representatives introduced some of the company's advanced technological solutions, notably POLYSECURE® SHIELD, a “tamper-proof” structure with security elements embedded directly within the polymer substrate, enhancing durability, security, and offering comprehensive design freedom. Q&T's capabilities have been affirmed through consecutive international tenders to supply security paper for the Vietnam National Printing House over the past three years, along with ISO certifications and recognition from many reputable currency printing partners worldwide.

Argentina's Ambassador to Vietnam, Marcos Antonio Bednarski, expresses interest in Q&T's strategy. (Photo: Ngoc Anh)

After listening to the presentations from Q&T representatives, Argentina's Ambassador to Vietnam, Marcos Antonio Bednarski, noted that transitioning from traditional paper money to polymer is a “quite challenging” but also “very appealing” process due to the longer product lifecycle. The Ambassador also pointed out similar challenges in Argentina, where the nominal value of paper money is high, but the actual value is very low (for example, the highest denomination is less than 20 USD).

This situation, coupled with high inflation, has caused significant difficulties for large transactions and ATM systems, forcing people to use USD for important transactions. Therefore, the diplomat is particularly interested in Q&T's strategy and current “production capacity,” as ensuring stable supply throughout the transition requires a substantial investment, which is a primary concern.

Panama's Ambassador to Vietnam, Nubiela Yanarith Ayala Modes, shows special interest in Q&T's technology. (Photo: Ngoc Anh)

Meanwhile, Panama's Ambassador to Vietnam, Nubiela Yanarith Ayala Modes, also expressed special interest in Q&T's technology, aiming for potential future cooperation related to the country's high-security paper needs, particularly “seafarer's licenses.”

The Ambassador explained that this type of document has high-security standards similar to passports, and Panama is currently importing blanks from a partner in Spain, while hoping for future direct meetings with Q&T to discuss specifics and promote cooperation opportunities between the two countries.

Colombia's Ambassador to Vietnam, Camila María Polo Floréz, appreciates Vietnam's experience in currency printing. (Photo: Ngoc Anh)

For her part, Colombia's Ambassador to Vietnam, Camila María Polo Floréz, appreciates Vietnam's experience. According to her, Colombia is in great need of autonomy in security technology, as the country currently relies on a single supplier for important documents like passports, causing many difficulties in public procurement processes. Ambassador Floréz sees Q&T's success as a significant opportunity for cooperation and invites the company to consider investing in Colombia to meet the growing demand and help countries achieve technological autonomy together.

The Ambassadors visit Q&T's polymer production factory. (Photo: Ngoc Anh)

Also during the reception, the Ambassadors visited Q&T's polymer production factory. Here, in an interview with The World and Vietnam Report, Argentina's Ambassador to Vietnam, Marcos Antonio Bednarski, expressed deep impressions with the polymer currency printing technology. The Ambassador shared that this was his first time experiencing this technology, as Argentina is still using traditional paper money.

Ambassador Marcos Antonio Bednarski answers an interview with The World and Vietnam Report. (Photo: Ngoc Anh)

Once again emphasizing the polymer technology as “extremely interesting” and having “a bright future,” although the technology transition is a “challenge” requiring a process, Ambassador Bednarski believes the visit has opened up “a new area for cooperation” and affirmed that he will “inform the government about this very successful visit.”

Additionally, sharing with The World and Vietnam Report, Mr. Luong Ngoc Anh, Chairman of Q&T Hi-tech Polymer, highly valued the working session, especially as many countries are trending towards polymer money.

He emphasized that Vietnam has over 20 years of successful experience with this type of currency due to its superior advantages such as high durability, economic efficiency, and very low counterfeiting rates.

From dependency, Vietnam has now achieved complete technological autonomy, and Q&T seeks to share this experience to expand the market, particularly with Central American partners. The company is actively working with many countries and preparing to send expert teams to assist in design, while affirming readiness to invest abroad if suitable cooperation mechanisms are in place.

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