Chairman of the HCM City People’s Committee Phan Van Mai (seventh from left) and other officials at the meeting with representatives of the Bank of America (Photo: sggp.org.vn) At the meeting with the Bankof America (BOA) - the second largest bank in the US, Mai highlighted some ofhis city’s advantages for investors, including political and macro-economic stability.
As HCM City is the largest economichub of Vietnam and working to develop itself into an international financialcentre, it wishes to earn from the BOA’s experience so as to make appropriatemoves. It also hopes investment funds and enterprises of the US will come toinvest in such fields as finance, high-tech industry, digital transformation,infrastructure, education and health care, he said.
Madhu Kannan, Executive Vice Chairof Global Corporate and Investment Banking at the BOA, said his bank has decidedto open a Vietnam branch based in HCM City, which will create many favourableconditions for investors when they come to the city.
However, the branch openingis lagging behind schedule to the COVID-19 pandemic, so the BOA hopes thatlocal leaders will give support so that the branch will become operationalsoon.
In reply, Mai pledged topromote the branch opening, expressing his hope that BOA executives will visitHCM City in the near future to discuss cooperation.
During their visit until July25, the Vietnamese delegation also had working sessions with the parties involvedin the building of a financial centre and an innovative city in HCM City.
They met representatives of McKinsey& Company, a provider of management and strategy consulting services, whichshared experience in managing and operating New York’s Financial District, andin combing a traditional financial centre with the model of a startup andinnovation support centre, technology incubator and fintech ecosystem.
Talking to Sasaki AssociatesInc., Mai said he hopes the company will coordinate with the HCM CityDepartment of Planning and Architecture to make the general planning for ThuDuc city and share knowledge to help HCM City effectively tap into the banks ofthe Sai Gon River and land in the vicinity of arterial roads.
At the meeting with the KKRinvestment firm, the Chairman presented three transport projects in his city,namely a metro system, a railway network connecting localities in the HCM Cityregion, and a railway linking HCM City with the Mekong Delta city of Can Tho.
He called for KKR to investin those projects, which he said are critical to the development of not onlyHCM City but also the entire southern region./.
VNA
