Ho Chi Minh City cooperates with Tony Blair Institute to build international financial center

Quang cảnh buổi làm việc. Ảnh: UBND TP Hồ Chí Minh

Working session scene. Photo: Ho Chi Minh City People's Committee

On October 28, Vice Chairman of Ho Chi Minh City People's Committee Nguyen Van Dung received Mr. Damian Hickey, Director of Southeast Asia, Tony Blair Institute for Global Change (TBI), during his visit and working in the City.

At the meeting, Vice President Nguyen Van Dung thanked the TBI Institute for accompanying Vietnam and Ho Chi Minh City in the process of building the International Financial Center (IFC) project. He said that Ho Chi Minh City is the largest economic center in the country, contributing 23% of GDP and nearly 30% of the national budget, with more than 11,000 FDI projects with a total registered capital of over 85 billion USD.

After expanding its administrative boundaries with Binh Duong and Ba Ria - Vung Tau , the City aims to become a regional and international center of economy, finance, trade, high-tech industry and sea tourism. In which, the old Ho Chi Minh City area plays the role of "financial and high-tech center"; the old Binh Duong is the "industrial center"; and the old Ba Ria - Vung Tau becomes the "marine economic center", the gateway to logistics and energy industry.

Vice Chairman Nguyen Van Dung emphasized that the Vietnam International Financial Center in Ho Chi Minh City will be developed according to the model of a modern financial technology center, in which AI and Blockchain are the two main pillars. These platforms will support the development of multi-asset trading floors, digital banks, cross-border payments and digital investment systems based on big data analysis.

Mr. Dung said the City wishes to cooperate with the TBI Institute in training human resources to operate the International Financial Center, as well as perfecting the legal framework for this model. Ho Chi Minh City is committed to building a transparent investment environment, tax incentives, a one-stop legal mechanism and modern infrastructure, attracting international strategic investors.

Speaking at the meeting, Mr. Damian Hickey said that the Tony Blair Institute is a non-profit policy consultancy organization, operating in more than 45 countries. The Institute has supported Vietnam in researching the international financial information model, serving the project development process in Ho Chi Minh City and Da Nang.

Mr. Hickey expressed his willingness to cooperate and advise the City in the process of forming and operating the International Financial Center; at the same time, support international connections, share management experiences, develop green and sustainable financial models and fintech sandboxes to encourage innovation while still ensuring risk control.

Vice Chairman of the Ho Chi Minh City People's Committee Nguyen Van Dung highly appreciated the commitment of the TBI Institute, affirming that this is an important step of cooperation, contributing to making Ho Chi Minh City become the leading financial technology center in the ASEAN region and raising the position of Vietnam in the global financial network.

Source: https://vtv.vn/tp-ho-chi-minh-hop-tac-vien-tony-blair-xay-trung-tam-tai-chinh-quoc-te-100251029092049488.htm