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Working meeting between Ho Chi Minh City delegation and Bank of America (BofA), July 18 in the USA.

Photo: SGGP/CVN

On July 18, during a working meeting with Bank of America (BofA), the second largest banking institution in the United States, Phan Van Mai, also Secretary of the Party Central Committee, Permanent Deputy Secretary of the Municipal Party Committee, expressed his desire to gain experience from BofA to make Ho Chi Minh City an international financial center.

Ho Chi Minh City also invites investment funds and American investors to invest in the fields of finance, high technology, digital transformation, infrastructure, education, health care…” he said.

For his part, Madhu Kannan, executive vice president of Global Business and Investment Banking BofA, announced the opening of a branch in Vietnam, more precisely in Ho Chi Minh City, with an investment of 150 million US dollars. According to him, the implementation of the project is slow due to the consequences of COVID-19. As such, he expressed his desire to use the support of the southern metropolis for this project so that the BofA branch can be up and running quickly.

Confirming his support for the establishment of a BofA branch, Phan Van Mai expressed his hope that the management of BofA will visit Ho Chi Minh City to discuss further cooperation.

On the same day, the chairman of the Ho Chi Minh City People’s Committee held meetings with relevant parties regarding the construction of the financial center and innovative urban district of Ho Chi Minh City.

He worked with the international management consulting company McKinsey & Company on experience related to the management and operation of the financial district of New York, a combination of the traditional financial center model and the start-up support center model, technology incubator and Fintech ecosystem.

Exchange of experience in urban planning

During a working meeting with Sasaki Associates Inc., the chairman of the Ho Chi Minh City People’s Committee said he hopes the company will cooperate and share ideas with the southern metropolis so that it can effectively use Saigon’s waterfront. The river, as well as land along the city’s main transport routes and railway network.

On this occasion, the City Department of Planning and Architecture and the Sasaki Company signed a memorandum of intent to cooperate to share design experience, update new trends, methods and technologies in urban planning and landscaping design.

Then there was a working meeting of the delegation of Ho Chi Minh City with the KKR investment fund, the world’s leading investment company, which has invested more than 1 billion US dollars in Vietnam for more than 10 years.

Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai called for investment in three transport projects, namely the subway, the urban railway network and the Ho Chi Minh City – Can Tho railway. These projects will contribute to the development of the metropolis of the South, but also the entire region, Phan Van Mai emphasized.

In the evening of the same day, the delegation visited the Permanent Mission of Vietnam to the UN.

Chairman of the Municipal People’s Committee Fan Wang Mai expressed hope that the mission will help the southern metropolis to establish ties and cooperate with companies in the United States.

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