(VOVWORLD) - The UK government has appointed TheCityUK to support Vietnam’s goal of developing a regional financial and business centre in Ho Chi Minh City, British Embassy in Hanoi announced on Wednesday.
 TheCityUK has been appointed to support Vietnam’s goal of developing a regional financial and business centre in Ho Chi Minh City. Photo: British Embassy in Hanoi |
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.
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.
Miles Celic, TheCityUK's Chief Executive Officer, said that Vietnam is a hugely exciting country with a compelling story for growth and prosperity. Given the country’s rapid development and increased demand for sophisticated financial products, there is great potential for British firms and other international investors to enter the market.
Ensuring robust regulatory, policy and legal frameworks and an open business environment will be essential to its success.
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 on a sector where it has clear global market strength, we hope to align our mutual policy priorities and support long-term sustainable growth across the country.