TheCityUK shares with Da Nang experience in building an international financial center

DNO - On the afternoon of March 6, Standing Vice Chairman of the City People's Committee Ho Ky Minh had an online meeting with Mr. Andrew Oldland, Head of the International Financial Center Working Group of TheCityUK (currently working in Hanoi ) to exchange information on the Danang International Financial Center project and TheCityUK's experience in preparing to establish an international financial center in Ho Chi Minh City.

Scene of the online working session between Standing Vice Chairman of the City People's Committee Ho Ky Minh and Mr. Andrew Oldland, Head of the working group on the international financial center of TheCityUK. Photo: X.H

Standing Vice Chairman of the City People's Committee Ho Ky Minh worked with Mr. Andrew Oldland, Head of the working group on the international financial center of TheCityUK. Photo: XUAN HAU

Standing Vice Chairman of the City People's Committee Ho Ky Minh introduced information about the Danang International Financial Center project.

Accordingly, the project to build the Da Nang International Financial Center is currently being consulted by the Ministry of Planning and Investment to submit to the Government to propose the National Assembly to amend and supplement a number of articles of Resolution No. 119/2020/QH14 on piloting the organization of an urban government model and a number of specific mechanisms and policies for the development of Da Nang city.

The objective of this project is to take advantage of the current advantages of Vietnam in general and Da Nang in particular in the region and the world to anticipate the trend of shifting investment capital flows from traditional financial markets, while implementing and researching to limit potential risks from the development of an international financial center.

This project will create new momentum for the rapid transformation of the high value-added service structure of Da Nang city according to planning goals.

According to Standing Vice Chairman of the City People's Committee Ho Ky Minh, in order for the international financial center to operate effectively, Da Nang needs to research from many different perspectives.

Therefore, the city hopes that TheCityUK will continue to coordinate in seeking funding sources not only in Vietnam but also internationally to have a research report on the establishment of an international financial center in Da Nang.

The Standing Vice Chairman of the City People's Committee requested TheCityUK to support and connect with corporations and strategic investors to invest in building an international financial center in Da Nang city and connect with the world's leading financial institutions to establish economic organizations in the international financial center in Da Nang.

At the same time, we hope that TheCityUK will cooperate with Da Nang in completing the project to build an international financial center as soon as possible.

Mr. Andrew Oldland pledged to continue to have connections to support Da Nang in completing the project to build an international financial center.

Sharing information and conditions that Da Nang needs to have to establish an international financial center, Mr. Andrew Oldland said that during the project preparation process, Da Nang needs to focus on financial activities and fields in which the city has strengths, and build appropriate mechanisms and institutional frameworks to create conditions for the international financial center to operate effectively.

TheCityUK is an organization appointed by the British Government to implement a project to support Vietnam in realizing its vision of developing Ho Chi Minh City into a regional financial and business center.

TheCityUK will provide technical support to help create a business and regulatory environment in Vietnam that is attractive to global investors and further strengthen bilateral relations between the UK and Vietnam.

SPRING

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