UK helps HCM City develop financial and business center

Thursday, 23/02/2023 18:25
The UK government has appointed TheCityUK to support Vietnam’s goal of developing Ho Chi Minh City as a regional financial and business center, according to the British Embassy in Hanoi.

Accordingly, in partnership with the UK Government, TheCityUK will provide technical support to help create a business and regulatory environment in Vietnam that is attractive to global investors and to further strengthen bilateral ties between the UK and Vietnam.

The UK government pledged support for HCM City’s development as a regional financial and business center. (Photo: the British Embassy)

This project will see TheCityUK working alongside the UK Government to bring together regulators and firms across the industry in both the UK and Vietnam to share best practice and develop recommendations that will support Vietnam’s long-term sustainable growth and attract UK and international investors.

The collaboration underlines the deep partnership between the two countries, which are celebrating 50 years of diplomatic relations.

According to a representative of TheCityUK, a strong regulatory, policy and legal framework along with an open business environment will be important conditions for this market to be more successful.

As one of the world’s leading international financial centers, the UK is well positioned to support Vietnam’s expectations and provide and share technical expertise.

Iain Frew, British Ambassador to Vietnam, said that supporting the development of Ho Chi Minh City as a regional financial and business center is another example of the strong bilateral relations between the UK and Vietnam.

Vietnam is a high-growth, dynamic market and, by working collaboratively on this important project and sharing UK expertise in a sector where it has clear global market strength, he hoped to align mutual policy priorities and support long-term sustainable growth across the country./.