Ho Chi Minh urges American companies to invest in infrastructure policy

Ho Chi Minh urges US companies to invest in hinh anh 1 infrastructure A working meeting between the delegation of Ho Chi Minh City and Bank of America (BofA). Photo: sggp.org.vn

Ho Chi Minh City (VNA) – From July 18 to 25, a delegation from Ho Chi Minh City led by Municipal People’s Committee Chairman Phan Van Mai begins a visit to the United States to gain experience and call for investment in finance and infrastructure.

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, BofA’s executive vice president of global business and investment banking, announced the opening of a branch in Vietnam, specifically in Ho Chi Minh City, with an investment of $150 million. 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 in an international management consulting firm McKinsey & Company about the experience related to the management and operation of the financial district of New York, the combination of the model of the traditional financial center and the model of the support center of startups, the technological incubator and the Fintech ecosystem.

Ho Chi Minh urges US companies to invest in hinh anh 2 infrastructureThe signing ceremony of the Memorandum of Intent of Cooperation between the City Planning and Architecture Department and the Sasaki Company. Photo: sggp.org.vn

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 in order to share design experience, update new trends, methods and technologies in urban planning and landscaping design.

Then the delegation of Ho Chi Minh City held a working meeting with the KKR investment fund, a leading global investment company that has invested more than 1 billion US dollars in Vietnam in more than ten 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 southern metropolis, but also the entire region, Fan Wang Mai said.

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. – VNA

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