Vice Chairman of the Da Nang People's Committee Ho Ky Minh asked for support from TheCityUK to help the city connect with strategic corporations and investors to build an international financial centre (IFC) in the locality as soon as possible during his online working session with Mr. Andrew Oldland, Head of TheCityUK’s IFC working group on Wednesday.                                                       

Vice Chairman of the Da Nang People's Committee Ho Ky Minh works with Mr. Andrew Oldland. Photo: XUAN HAU

Mr. Minh also introduced information about the Da Nang International Financial Centre project.

Accordingly, the purpose of the project is to take current advantage of Da Nang and Viet Nam as a whole to catch the trend of shifting investment capital flows in traditional financial markets to limit potential risks from the development of an international financial center.

This project will create new momentum for quickly shifting the structure of high value-added services of Da Nang according to planning goals.

According to Vice Chairman Minh, in order for the international financial center to operate effectively, Da Nang needs to research from many different angles.

Therefore, the city wanted TheCityUK to continue to coordinate and seek funding sources not only in Viet Nam but also the world to produce a research report on the establishment of an international financial center in Da Nang.

Vice Chairman Minh hoped that TheCityUK will coordinate with Da Nang in completing the project to build an international financial center as soon as possible.

Mr. Andrew Oldland pledged to continue making connections to support Da Nang to complete the project.

He stressed the need for the city to focus on financial activities and fields which are the city's strengths, as well as build appropriate mechanisms and institutional frameworks in order to facilitate the international financial center to operate effectively.

TheCityUK is an organisation designated by the British Government to implement a project to support Viet Nam in developing Ho Chi Minh City into a regional financial and business center.

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

Reporting by X.HAU - Translating by M.DUNG