Da Nang calls for TheCityUK’s support in int’l financial centre building
Standing Vice Chairman of the Da Nang city People's Committee Ho Ky Minh on March 6 called on TheCityUK, the industry-led body representing UK-based financial and related professional services, to coordinate with the Vietnamese central locality in building an international financial centre (IFC) there as soon as possible.
Da Nang (VNA) – Standing Vice Chairman of theDa Nang city People's Committee Ho Ky Minh on March 6 called on TheCityUK, theindustry-led body representing UK-based financial and related professionalservices, to coordinate with the Vietnamese central locality in building aninternational financial centre (IFC) there as soon as possible.
At an online working session with Andrew Oldland, headof TheCityUK’s IFC working group, Minh briefed the guest on the IFC project in DaNang, where all investors will be considered foreign businesses.
The centre is expected to create momentum forsocio-economic development of Vietnam and Da Nang city in particular, enablingthem to join the global economic value chain at a higher level, and advancingtheir position in the international arena, he said.
The project also features the proposal to pilot a freetrade zone in the city association with Lien Chieu Port, and some special mechanismsand policies for local development, the official continued.
He appealed to TheCityUK to coordinate with Da Nang inseeking more funding sources for IFC research in the city and Vietnam at large.
Minh suggested TheCityUK connect with corporations andstrategic investors in building IFCs in Da Nang and HCM City, and with theworld’s leading financial institutions in establishing economic organisationsin the centres.
For his part, Oldland noted that Da Nang should focuson financial activities, and the building of mechanisms and institutional frameworksduring project preparation to ensure the operational efficiency of the centreonce it is formed.
The UK government has appointed TheCityUK to supportVietnam’s goal of developing a regional financial and business centre in HCMCity, according to the British Embassy in Hanoi.
In partnership with the UK government, TheCityUK willprovide technical support to help create a business and regulatory environmentin Vietnam that is attractive to global investors and to further strengthenbilateral ties between the UK and Vietnam./.
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At the online working session. (Photo: VNA) 
