DNO - On February 27, a delegation of Da Nang city led by Central Party Committee member, City Party Secretary, Head of the city's National Assembly Delegation Nguyen Van Quang began a working program in the United Arab Emirates (UAE).
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| Secretary of the City Party Committee Nguyen Van Quang and Ms. Alya Al Zarouni, DIFC Operations Director. Photo: Working Group |
On the morning of February 27, in Dubai, the city delegation had a working session with the Board of Directors of the Dubai International Financial Center (DIFC).
Secretary of the City Party Committee Nguyen Van Quang highly appreciated the results that DIFC has achieved in recent times and said that this is important information, serving as a foundation for the city to build a strategy to develop the Da Nang International Financial Center.
The City Party Secretary proposed that the two sides continue to expand cooperation in the coming time, especially in implementing training programs and exchanging officials to share experience and knowledge in operating international financial centers.
Ms. Alya Al Zarouni, DIFC Operations Director, said that DIFC management highly appreciates the potential and opportunities of Da Nang in developing an international financial center.
She believes that to successfully build a financial center, Da Nang needs to identify its own strengths compared to existing models in the region to effectively mobilize and exploit resources.
DIFC is willing to share its experience in building a financial center and cooperate with Da Nang to train human resources to serve the operations of the financial center.
DIFC is known as one of the most advanced financial centers in the world and is the leading financial center in the Middle East, Africa and South Asia. DIFC's orientation is to promote the future of finance through innovation, focusing on developing financial technology (fintech).
With 20 years of operations, DIFC connects the region's fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.
DIFC is home to an independent, internationally recognised regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem, with over 46,000 professionals working across over 6,920 registered firms.
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| Secretary of the City Party Committee Nguyen Van Quang (left) presents a souvenir to a representative of Al Tamimi & Co. Law Firm. Photo: Working delegation |
On the same afternoon, the delegation worked with members of the board of directors of Al Tamimi & Co Law Firm to discuss issues related to building a favorable and effective legal framework for the operation of the International Financial Center.
Informing the Board of Directors of Al Tamimi & Co Law Firm, Secretary of the City Party Committee Nguyen Van Quang said that this working trip aims to concretize the policies of the Politburo and the Government in building and developing an international financial center in Vietnam.
The city is closely coordinating with central agencies to develop relevant mechanisms and policies for the operation of this model in Vietnam.
Secretary of the City Party Committee Nguyen Van Quang highly appreciated the exchanges of Al Tamimi & Co. on attracting investment from fund management companies, developing a comprehensive ecosystem, and resolving disputes at the International Financial Center.
At the same time, the company is requested to continue consulting on building a jurisdictional mechanism, legal framework and suitable development model for Da Nang, especially connecting with the Da Nang Free Trade Zone.
Mr. Naief Yahia, Director of the Jurisdiction Department of Al Tamimi & Co Law Firm, said that through many years of experience advising international financial centers, financial centers need a strong, transparent, trustworthy legal and governance environment that is in line with global standards.
Thereby creating trust for businesses and investors in protecting investments and resolving disputes fairly. In addition, senior members of Al Tamimi & Co Company proposed that Da Nang exploit resources from small and medium-sized investment funds, in addition to calling for large-scale investment funds.
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| City delegation in the United Arab Emirates (UAE). Photo: Delegation |
During the working program, the city delegation visited and worked with Expo City Dubai Management Board and Nakheel Infrastructure Development Company.
These are the units that manage and develop Dubai's strategic infrastructure projects such as Dubai South Future City, Dubai Palm Islands with Palm Jumeirah, Palm Jebel Ali and Palm Deira.
WORKING DELEGATION
Source: http://baodanang.vn/kinhte/202502/doan-cong-tac-thanh-pho-da-nang-lam-viec-voi-trung-tam-tai-chinh-quoc-te-dubai-4001413/
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