During his working session on Wednesday in Singapore with the CGS International Securities Pte. Ltd. (CGS International), Secretary of the Da Nang Party Committee introduced Da Nang’s growth, and exchanged experiences in building international financial centres and free trade zones.

Secretary of the Da Nang Party Committee Nguyen Van Quang (right) and a representative of CGS Securities International.

CGS International Securities, with the ambition to become the largest investment bank in Asia, has showed special interest in the Da Nang International Financial Centre project. It is an award-winning and market leading integrated financial services provider.

Accordingly, the two sides had in-depth discussions on the International Financial Centre model suitable for Da Nang, especially the difference between the law applicable in the International Financial Centre and civil law.

Da Nang has the clear orientation for the development of the International Financial Centre, and is committed to ensuring safety for investors and capital flows.

Leaders of Da Nang and representatives of CGS Securities International.

CGS Securities International emphasised the importance of building a legal framework based on Common Law, creating separation from the domestic market and attracting international investors. The company, at the same time, suggested a multi-ownership model and proposed that Da Nang take the lead in capital flows from Europe to Asia.

During the meeting, experts from CGS Securities International made important recommendations on tax and visa incentives, saying that Da Nang needed to have competitive policies to attract investment.

In addition, Viet Nam's advantages such as strategic location and partnership with the United States, and developing economy were also highlighted during the working session.

The interest of CGS Securities International, a leading financial group, affirmed the potential and attractiveness of Da Nang. The central coastal city not only looks for investment capital, but also wants to build a strategic partnership, based on sharing experiences and a common vision.

Reporting by Working delegation - Translating by M.DUNG