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| The high-ranking delegation from Ho Chi Minh City worked and presented souvenirs with Bank of America leaders. (Photo: TTO) |
On July 18 (US time), the delegation worked with Bank of America (BofA), currently the 2nd largest banking institution in the US and one of the world's leading wealth management firms.
At the meeting, Chairman of the People's Committee of Ho Chi Minh City Phan Van Mai expressed his impression with the development of BofA, and said that one of the tasks of the delegation during this business trip is to invite BofA to join the development of Ho Chi Minh City.
He also shared some advantages of Ho Chi Minh City such as political stability and macroeconomic stability. Ho Chi Minh City accounts for a quarter of the country's GDP, is the economic locomotive of the country. Currently, Ho Chi Minh City is orienting and developing into an international financial center. It wants to learn from BofA's experience to take reasonable steps in building an international financial center.
At the same time, Ho Chi Minh City wishes to invite investment funds and US investors to invest in the fields of finance, high-tech industry, and projects related to digital transformation, infrastructure floors, education and health.
BofA representative, Mr. Madhu Kannan, Executive Vice President of Global Corporate and Investment Banking, said that BofA currently has areas of activity compatible with the wishes of Ho Chi Minh City's leaders. He also expressed his desire to have more in-depth working sessions to focus on the issues that the city is concerned about.
Mr. Madhu Kannan said that BofA is currently applying to open a branch in Vietnam. It is expected that the branch will be located in Ho Chi Minh City with an investment capital of USD50 million.
Mr. Phan Van Mai affirmed that he would continue to promote the establishment of a BofA branch in Ho Chi Minh City, and wished that BofA leaders would visit Ho Chi Minh City so that the two sides could exchange more related to the development of both sides.
On the same day, Chairman of Ho Chi Minh City People's Committee Phan Van Mai and members of the delegation had working sessions with units related to the construction of financial centers and creative urban areas. The delegation worked with consulting firm McKinsey & Company, which provides strategic and management consulting services to businesses, governments and organizations; Sasaki Associates Inc., which specializes in the field of architectural planning design operating in the US; KKR Investment Fund, the world's oldest private investment fund, currently with a capital of USD500 billion USD.
The delegation also visited the Vietnamese Delegation to the United Nations. On behalf of the delegation, Chairman of Ho Chi Minh City People's Committee Phan Van Mai highly appreciated the contributions and achievements of the diplomatic sector over the past time, and at the same time appreciated and shared the difficulties and challenges of the delegation, affirming that Ho Chi Minh City would be the rear for the delegation's activities, and hoped that the delegation would support the city to connect and cooperate with businesses in the US./.