Financial Markets ADB expert identifies ways to make HCMC a financial hub By Thanh Thom Tuesday, Nov 19, 2019,15:44 (GMT+7) ADB expert identifies ways to make HCMC a financial hubBy Thanh Thom An office and commercial building complex in HCMC’s District 1. HCMC joins a growing list of cities from Colombo to Kuala Lumpur that aim to become international financial hubs – PHOTO: PHAM LE HCMC – An expert at the Asian Development Bank (ADB) has recommended several ways to help transform HCMC into a financial center, including developing a comprehensive legal framework, creating a solid market infrastructure and ensuring monetary policy independence. In a blog post, Donald Lambert, principal private sector development specialist at ADB’s Southeast Asia Department, made his recommendations based on information discussed at the 2019 HCMC Economic Forum, held last month, which focused on turning the city into a global financial center. With key financial reforms, Lambert stated, the southern metropolis has the potential to follow the models of Tokyo, Shanghai, Mumbai and other global cities that have achieved financial prominence. “HCMC joins a growing list of cities from Colombo to Kuala Lumpur that have announced their intentions to become international intermediators of capital,” he said. He pointed out the… Read full this story
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