HCM City seeks Hong Kong ’s experiences in financial management

14:09 | 24/09/2018 Economy

Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong voiced his hope that Hong Kong (China), as a leading financial center of Asia and the world, will share its experiences in financial management, helping HCM City become a financial hub of the region.

Chairman of the HCM City People’s Committee Nguyen Thanh Phong (R) and Paul Chan Mo-po, Financial Secretary of Hong Kong - Photo: hcmcpv.org.vn

Chairman Phong expressed the wish while receiving Paul Chan Mo-po, Financial Secretary of Hong Kong, in HCM City on September 20.

Relations between Hong Kong (China) and Vietnam, including HCM City, are thriving, notably in trade, investment and economy, he said.

According to the chairman, Hong Kong is currently a major trade partner of Vietnam and HCM City in particular, with two-way trade recorded at US$17.5 billion in 2017.

As of August this year, Hong Kong ranked 7th among 100 countries and territories investing in HCM City with 747 projects worth US$2.4 billion in total.

HCM City will create favourable conditions for foreign companies, including those from Hong Kong, to invest and do business in the city in the time ahead, Phong said.

The city also wants to work with Hong Kong to promote cooperation in tourism and cultural exchanges, he added.

For his part, Chan stressed that the bilateral ties have been strengthened over the years, adding that businesses of Hong Kong have paid heed to the Vietnamese market in the spheres of garment and textiles, banking, real estate and logistics, among others.

Hong Kong wants to invite Vietnamese firms to join its financial market and tap China’s potential in the Guangdong Bay area, the Financial Secretary said.

He also thanked the city’s leaders for their assistance in the successful organisation of the recent “2018 In Style – Hong Kong Expo” in HCM City, adding that Hong Kong is willing to assist and share experiences in financial management with the city, along with providing technical support and financial sources if HCM City issues bonds at the Hong Kong financial market.

Hong Kong will facilitate HCM City’s technological companies and start-ups through venture investment funds, he said.

In addition, the two sides hold great potential in cultural and tourism cooperation, Chan noted, saying that Hong Kong hopes to increase the exchange of delegations in those fields to bolster mutual understanding, friendship, and collaboration.