HCMC invites London to build financial centre

March 24, 2011 | 11:25

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A Ho Chi Minh City leader has invited the City of London and other British businesses to take part in building the Thu Thiem financial centre that is expected to become Vietnam ’s “financial heart”.

Ho Chi Minh city - illustration photo

Chairman of the Municipal People’s Committee Le Hoang Quan delivered the invitation to the Lord Mayor of the City of London , Michael Bear, during their meeting on March 23.

“The City of London is an ideal model and has a lot of valuable experience that HCM City can learn from,” the municipal official said.

Quan proposed the City of London help with the training of financial personnel for HCM City , specifically for the HCM Stock Exchange and banks.
He reiterated HCM City ’s policy of attracting individual investors and providing them with every favourable condition possible for partnerships and business activities.

Lord Mayor Bear said the British Government has laid stress on elevating the UK-Vietnam ties to a new height, giving due care to public-private partnerships and financial cooperation.

He affirmed that with its experience and within its capacity, the City of London will assist HCM City in expanding the stock market’s operational scope and building the city’s financial centre.

The City of London was ready to partner and assist HCM City in training personnel in financial and securities fields as well as developing urban infrastructure, Bear noted.

He stressed that British businesses were capable, in terms of experience and technologies, of improving urban infrastructure in HCM City .

During the visit to Vietnam ’s major economic hub, the Lord Mayor held working sessions with the municipal investment promotion centre and the British business community.