Mayor of San Francisco City Daniel Lurie affirmed that the establishment of Vietnam’s  International Financial Center (VIFC) is a practical initiative, pledging to support promotion and investment connections into the VIFC during his meeting with Vietnamese Standing Deputy Prime Minister Nguyen Hoa Binh on March 27, the Government News reported.

The meeting took place as part of the Vietnamese official's working visit to the U.S.

Standing Deputy Prime Minister Binh, who is also the Chairman of the Executive Council for the VIFC, said the VIFC is a breakthrough institutional initiative that contributes to economic restructuring and the transformation of the growth model, serving as an effective channel for Vietnam to mobilize capital.

He expressed his hope that the Mayor of San Francisco will continue to support and assist the development of the VIFC in the coming period, and encourage investors, businesses, and financial institutions from San Francisco to invest in the center.

Mr. Lurie, for his side, assessed that local-level cooperation between the two countries is becoming increasingly close, including the sister-city relationship between San Francisco and Ho Chi Minh City.

The Mayor affirmed his readiness to promote cooperation between the two countries as well as between San Francisco and Vietnamese localities.

During the working session between the Standing Deputy Prime Minister and a group of consultants specializing in the financial sector, and U.S. company executives on the same day, Mr. Binh  reiterated the commitment to safeguarding the rights and interests of investors in the VIFC.

He said that Vietnam welcomes U.S. businesses and investors to visit the nation soon to discuss in potential cooperation projects at the VIFC.