Chairman of Ho Chi Minh City People's Committee works with US investors on International Financial Center

During the working trip to the United States, the delegation of Ho Chi Minh City led by comrade Nguyen Van Duoc, member of the Party Central Committee, Deputy Secretary of the City Party Committee, Chairman of the Ho Chi Minh City People's Committee, worked with many agencies on cooperation in building an International Financial Center in Ho Chi Minh City.

Comrade Nguyen Van Duoc witnessed the signing ceremony of the Memorandum of Understanding on cooperation between Ho Chi Minh City University of Economics and the New York Institute of Finance.

Cooperation in human resource training

On October 17 (local time), within the framework of a working trip to the United States, the Ho Chi Minh City delegation led by Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc witnessed the signing ceremony of the Memorandum of Understanding (MOU) between the Ho Chi Minh City University of Economics and the New York Institute of Finance.

According to the agreement, the University of Economics Ho Chi Minh City and the New York Institute of Finance will implement a practical training program in finance and investment according to international standards, aiming to build a team of high-quality financial experts, consultants and operators, serving directly for the International Finance Center in Ho Chi Minh City. This is considered a strategic first step in the process of connecting global academics - policies - practices that Ho Chi Minh City is pursuing.

Comrade Nguyen Van Duoc and the delegation worked with the New York Institute of Finance.

Mr. Lee Tian, ​​Executive Director of the New York Institute of Finance, commented that Ho Chi Minh City is one of the fastest growing cities in Southeast Asia. To build an effective International Financial Center, it must start from human resources. Therefore, the city needs to pay attention to education and training of future human resources.

Affirming that the core foundation of every International Financial Center is still human, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc emphasized that the city needs to build a team of financial human resources that meets international standards, has a deep understanding of the domestic market, but is also capable enough to operate effectively in a global environment. Therefore, the cooperation between the Ho Chi Minh City University of Economics and the New York Institute of Finance is extremely important. The Institute will work with the city to lay the first brick for the foundation of the International Financial Center.

Connecting investors to build super cities

On the same day, comrade Nguyen Van Duoc had a working session with Mr. Jake Siewert, Global Director in charge of public policy and political risk of Warburg Pincus Group.

Delegation at the working session with Mr. Jake Siewert

Mr. Jake Siewert said that Warburg Pincus Group started investing in Vietnam in 2013. It has now become the largest and most active global private equity investor in Vietnam, with about 2 billion USD.

Mr. Jake Siewert emphasized that the three important things that make the group confident in investing in Vietnam are stable policies, dynamic business culture, open government, and meeting the needs of investors. Currently, the group is moving towards the next step in developing a data center, which its partner, Becamex Group, is also very interested in. In addition, Warburg Pincus Group also wants to contribute to the construction of an International Financial Center in Ho Chi Minh City.

Highly appreciating the investment efficiency of Warburg Pincus Group in Ho Chi Minh City in particular and Vietnam in general, Chairman of Ho Chi Minh City People's Committee Nguyen Van Duoc suggested further promoting the tradition of cooperation between Warburg Pincus and Becamex in the field of industrial parks.

Currently, Ho Chi Minh City is restructuring its economy towards a strong digital economy. The Ho Chi Minh City High-Tech Park has been attracting data center projects. In addition, railways are also quite an attractive investment field, especially the connecting routes from Bau Bang to Cai Mep - Thi Vai, which the city has assigned Becamex to develop. The Chairman of the Ho Chi Minh City People's Committee suggested that Warburg Pincus Group be interested in seeking investment opportunities, connecting investors, and contributing to the construction of the super city of Ho Chi Minh City.

Ho Chi Minh City and N asdaq signed a cooperation agreement on the International Financial Center

Also on October 17 (local time), in New York, Comrade Nguyen Van Duoc had a working session with Mr. Chuck Mack, Senior Vice President of Nasdaq Stock Exchange; witnessed the signing ceremony of the Memorandum of Understanding (MOU) between Nasdaq and the Ho Chi Minh City Department of Finance on promoting cooperation in developing the Vietnam International Financial Center in Ho Chi Minh City.

The delegation witnessed the signing ceremony of the Memorandum of Understanding between Nasdaq and the Ho Chi Minh City Department of Finance.

Accordingly, Nasdaq and the Ho Chi Minh City Department of Finance will cooperate in five main areas, including: Promoting strategic cooperation in governance, capacity building, cross-listing and product development; exchanging practical experiences in building legal frameworks, operating mechanisms, risk management, product development and attracting international investment; supporting technology and technical services and other services, serving the construction and operation of the International Financial Center in Ho Chi Minh City; training human resources for the International Financial Center in the city, especially in the fields of securities, bonds, derivatives, digital assets and carbon credit markets; strengthening connections between the Vietnamese, US and international financial communities.

Mr. Chuck Mack assessed that this is a strategic MOU between the two sides, sharing a common vision, verifying the financial infrastructure that can be developed in cooperation between the two sides. On this occasion, Mr. Chuck Mack congratulated the Vietnamese stock market on being upgraded to an emerging market by FTSE Russell.

Chairman of Ho Chi Minh City People's Committee and delegation at the working session with Mr. Chuck Mack, Senior Vice President of Nasdaq Stock Exchange

Thanking Nasdaq for the warm welcome, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc emphasized that the Central Government has assigned Ho Chi Minh City to become the National Innovation Center, the country's economic locomotive, especially the place to implement new mechanisms. In particular, the International Financial Center in Ho Chi Minh City chose Nasdaq to cooperate with and be a companion, because Nasdaq is the world's leading stock exchange with advanced technology. According to comrade Nguyen Van Duoc, after signing the MOU, the two sides will still have a lot of work to do and make efforts so that the International Financial Center in Ho Chi Minh City can come into operation in 2026.

On this occasion, the delegation from Ho Chi Minh City visited the Nasdaq stock exchange, witnessing the official listing ceremony of a company. This is also the listing place of leading technology corporations such as Apple, Microsoft, Google, Amazon, Meta, Tesla, PayPal and Intel...

Source: https://ttbc-hcm.gov.vn/chu-tich-ubnd-tphcm-lam-viec-voi-nha-dau-tu-hoa-ky-ve-trung-tam-tai-chinh-quoc-te-1019801.html