Los Angeles eyes direct flights to HCMC

Los Angeles International Airport executives have shown an interest in opening a direct service to Ho Chi Minh City, Vietnam’s largest economic hub.

The airport (LAX) representatives, during their meeting with HCMC Mayor Phan Van Mai in the U.S. on Tuesday, said LAX is setting its sights on the HCMC market as the fifth-busiest airport in the world has resumed over 60% of international and more than 80% of domestic flights.

To date, no direct air services link the two major cities. National flag carrier Vietnam Airlines launched its direct U.S. service last November, connecting Hanoi and San Francisco. Meanwhile, its domestic competitor Bamboo Airways inaugurated its non-stop service to America last September, linking Hanoi and Danang with San Francisco, Los Angeles, and Seattle.

Los Angeles is the largest city in California and the second most populous in the U.S., while San Francisco is also in the state. California’s economy is the largest in America and ranks as the world’s fifth-largest with strong technology development in Silicon Valley, dominance in domestic agricultural produce, and the world’s movie and entertainment capital Hollywood.

Prior to his meeting with LAX executives, the HCMC mayor had a meeting with NASDAQ stock exchange leaders. Mai said his megacity was aiming to become an international financial center offering diversified financial services, expecting to integrate into global markets.

He said he hoped NASDAQ experts would share their experience and support HCMC in developing as an international financial center.

In another meeting on Monday, Bank of America executive vice chair Madhu Kannan told Mai the U.S. commercial bank was in the process of opening its HCMC branch with $50 million in investment – the second in Vietnam after the Hanoi branch, launched in 1995.