Resonance creates breakthroughs
Da Nang's current major competitive advantage is that it is the only city in Vietnam that is implementing two new development models: a free trade zone and a financial center, which go hand in hand and complement each other.
According to Associate Professor Dr. Le Van Huy, Principal of the University of Economics (University of Danang), the financial center will be the focal point for integrating capital, technology and human resources, strongly supporting the startup ecosystem. Meanwhile, the Danang Free Trade Zone and the regional logistics chain will complement trade.
Mechanisms that are present for the first time in Vietnam, such as the legal sandbox testing framework for digital assets, digital currencies, cross-border payments; preferential tax and foreign exchange policies or legal testing space, are the fundamental conditions for Da Nang to attract capital, attract brainpower and form a real financial gateway of the Central region.
For the international financial center in Da Nang, Resolution No. 222/2025/QH15 dated June 27, 2025 of the National Assembly on the international financial center in Vietnam has established specific mechanisms and policies for the city to create a competitive investment environment.
Specifically: more flexible market access conditions and corporate income tax incentives are applied; special mechanisms in the use of land and production and business premises, helping to speed up the process of leasing, transferring and using land for large financial projects, minimizing administrative barriers;
establish a number of business rules according to international standards, especially on management and compliance (AML/KYC)... In addition, Resolution No. 05/2025/NQ-CP dated September 9, 2025 of the Government on piloting the crypto asset market opens up opportunities for Da Nang to pioneer in the field of new technology, promote transparent capital flows, and contribute to the development of the Vietnam International Financial Center in the city.
To implement the above orientation, immediately after the policy on developing the Vietnam International Financial Center in Da Nang was issued, in addition to consulting and coordinating with central ministries and branches to complete the legal framework, the city urgently deployed investment in infrastructure, human resources and improved living and working environment to serve the formation of an ecosystem for the international financial center.
Specifically, the city will arrange locations right in the city center, within a radius of 5-10 km from Da Nang International Airport. Therein, the financial center will be connected with free trade zones and resort tourism, ensuring working and living space according to international standards. In addition, a 22-storey building with a floor area of over 27,000m2 at Da Nang Software Park No. 2 is ready to be the initial headquarters for the International Financial Center.
The city is also developing 7 data centers; has 5G coverage with the highest average speed in Vietnam; is preparing procedures to deploy investment in the second submarine fiber optic cable station, contributing to ensuring Vietnam's international connections. This will be a competitive advantage for Da Nang to attract and retain talent, as well as global corporations.
Identifying human resources as the key factor, Da Nang has selected talented staff, including internationally trained doctors, associate professors, financial experts, and judges, to send them for internships and to attend specialized training courses at major financial centers.
At the same time, training institutions in the city are building long-term training programs on international finance, financial technology (fintech) and international trade law in a bilingual direction, integrating international vocational certificates to provide high-quality human resources, directly serving the financial center.
The city established a preparatory committee and a working group, established an advisory council, and at the same time, deployed a trial operation of the International Financial Center's executive agency, developed a one-stop administrative procedure set, and compiled an investment handbook based on international experience to prepare for actual implementation after the Vietnam International Financial Center is established.
“Recently, Da Nang has signed nearly 20 memorandums of cooperation with global financial and technology institutions, including Abu Dhabi Global Market, Binance, Bybit, Tether, DTCpay, APEX Group, Swiss Fintech Association... to share management, operation, human resource training experiences, connect and introduce investors, financial institutions, and investment funds to the Vietnam International Financial Center in Da Nang city.
“Completing the institutional and legal framework is a key task to ensure that the financial center operates according to a unique and superior mechanism. Da Nang considers the implementation of the financial center not only a task, but also a golden opportunity to establish a unique and pioneering development model in Vietnam, thereby affirming its position as a growth pole and a reliable destination for international investors and financial institutions,” said Ms. Tran Thi Thanh Tam, Director of the Da Nang Department of Finance.
Turn expectations into motivation
Not only are the national-level decisions trusted by the Central Government, but more importantly, the new dynamic models of Da Nang have been spreading into common beliefs.
Mr. Le Duc Tri, Vice Chairman of the People's Committee of Ba Na Commune, a locality with 4 locations planned for the construction of the Da Nang Free Trade Zone, acknowledged that when projects in the free trade zone come into operation, the demand for local labor will increase, helping people have more job opportunities, solving part of the labor and employment in the locality.
In addition, infrastructure works such as transportation, electricity, water, telecommunications, residential areas, public utilities, etc. will be invested synchronously in an urban direction, contributing to significantly changing the appearance of rural infrastructure.
“The commune has organized to collect opinions from the community regarding the local adjustment of the city's master plan until 2030, with a vision to 2045 (content at the locations of the establishment of the Da Nang Free Trade Zone); coordinated to contribute opinions during the process of preparing for investment in the resettlement area project to serve the clearance of functional areas in the free trade zone. In the coming time, when the city has a policy, the commune will step up propaganda and mobilization work for the people, helping people understand the meaning and long-term benefits of the project to create high consensus among the people,” Mr. Tri shared.
In addition to the 5th position that has been launched, the city is vigorously implementing the following positions. At the ceremony announcing the Prime Minister's decision on the establishment of the Da Nang Free Trade Zone, the City People's Committee handed over a memorandum of understanding on investment in the Da Nang Free Trade Zone to a number of strategic investors: Sun Group Joint Stock Company (Sun Group); Terne Holdings and One Destination Group; BRG Group - Joint Stock Company; Thanh Binh Phu My Joint Stock Company; Lien Thai Binh Duong Import Export Company Limited; Phuong Trang Investment Joint Stock Company; Newtechco Group Joint Stock Company, representing the joint venture of NewTechco Group Joint Stock Company and Phytopharco Vietnam Company Limited; Saigon Da Nang Investment Joint Stock Company.
Mr. Mai Cong Ho, General Director of Saigon - Da Nang Investment Joint Stock Company, said that the project at position 2 in the free trade zone has a strategic location adjacent to Lien Chieu port and Lien Chieu Industrial Park. Thanks to that, the project will create a new generation industrial ecosystem, synchronized infrastructure, convenient global connectivity, opening up sustainable growth opportunities for domestic and foreign investors. The project is expected to lead the model of a modern supporting free industrial zone, optimized for the supply chain and export, with the advantage of international standard infrastructure and flexible mechanisms of the free trade zone.
The Management Board of Da Nang High-Tech Park and Industrial Zones said that many domestic and foreign investors and enterprises have recently expressed their deep interest, shared plans, ideas and research orientations, and implemented projects in Da Nang. These cooperation intentions and investment research plans are clear evidence of the attractiveness and development potential of Da Nang.
By 2030, the Management Board will focus on perfecting the application of blockchain technology and artificial intelligence in customs management, expanding multimodal logistics services, developing data centers to support businesses in supply chain management, perfecting the digital economic ecosystem and expanding the scope, boundaries and infrastructure investment for free trade zone development.
It can be seen that Da Nang is entering a new phase, with many opportunities, chances and room for development; it is a locality that the Central Government has placed great expectations on with the orientation of becoming a growth pole of Vietnam, having high competitiveness in the Asia - Pacific region, playing a pioneering role, leading localities in the process of modern development.
By 2045, Da Nang will become an ecological and smart city, a free trade center, an international financial center, an industrial center, logistics, innovative startups, and a livable, world-class tourist city in Asia.
EXPERT AND BUSINESS OPINIONS
With the advantages created from the special mechanism it is enjoying, what more does Da Nang city need to realize its aspiration to grow?
MR. NGUYEN TIEN QUANG, DIRECTOR OF VIETNAM FEDERATION OF COMMERCE AND INDUSTRY (VCCI), CENTRAL - CENTRAL HIGHLANDS BRANCH:
New momentum from new models
Da Nang's economy in 2024 - 2025 will have more comprehensive and outstanding developments, not only with high growth rates in gross domestic product (GRDP) but also with a more positive and balanced economic structure. After the merger, the new economic structure will be placed in the new Da Nang space with high-tech industrial sectors such as semiconductors, artificial intelligence, etc., showing initial results for a development prospect in the coming time.
At the same time, new dynamic models such as financial centers and free trade zones are being formed. This is the basis for Da Nang to become the center of trade, goods and finance flows of the country and the region, becoming a model of economic development, a gateway for trade with great influence.
Da Nang City needs to continue reviewing and perfecting the development planning in the new Da Nang space in the direction of integrating and connecting infrastructure of areas according to industries and fields to create comparative advantages in economic infrastructure and reduce logistics costs. Build and perfect the public-private partnership mechanism in forming key and dynamic projects, including free trade zones and financial centers. At the same time, the city continues to implement the strategy of developing high-quality human resources for new key industries such as high-tech industry and financial technology.
Forming and completing the traffic axis connecting the eastern and western regions of Da Nang; connecting and forming the East-West Economic Corridor 2 through Dak Ta Ooc border gate (Laos) to expand the "rear" for Da Nang; at the same time, turning Da Nang into a trade gateway for Laos, Cambodia, Thailand, Myanmar... To do the above, further promoting administrative procedure reform and applying information technology is very important. At the same time, the city continues to remove obstacles of works and projects; reviewing projects that are no longer suitable to have appropriate handling directions, towards green, modern and sustainable adjustments.
DR. NGUYEN TRONG HIEU, VICE PRESIDENT OF THE YOUNG ENTREPRENEURS ASSOCIATION OF DA NANG CITY, PRESIDENT OF THE BOARD OF MEMBERS OF ECOVIS AFA VIETNAM AUDITING, VALUATION AND CONSULTING COMPANY LIMITED:
Speed up project progress, meet investor expectations
Da Nang is facing a golden opportunity to break through if it knows how to promote regional connectivity, open up strategic projects and create confidence for investors.
When the Free Trade Zone and International Financial Center are formed, along with economic zones and high-tech zones, we will see a dynamic, creative and regional Da Nang. With the special mechanisms that the Central Government has given to Da Nang, the city has many advantages to build and establish a breakthrough model to form new growth drivers.
In the coming time, the city needs to speed up the planning and operation of free trade zones, prioritize special mechanisms on tax, customs, investment and residence of foreign experts; establish an international financial center in Da Nang linked with airports and Tien Sa port, pilot a sandbox for financial technology; speed up the implementation of the "Smart City" project, and connect interconnected data in the city.
In the south, Chu Lai Open Economic Zone with THACO Truong Hai Group is becoming the largest manufacturing and logistics industrial hub in the Central region, making a great contribution to the region's industrial production value.
At the same time, the Ngoc Linh ginseng medicinal herb area in Nam Tra My commune is rising to become a national brand, with an economic value dozens of times higher than traditional crops. To exploit this advantage, the city needs to create a connection between Da Nang - Chu Lai - Tam Ky - Hoi An into an industrial, tourism and logistics corridor in the Central region; develop the value chain of Ngoc Linh ginseng - Nam Tra My medicinal herbs through processing industry, diversify products to increase value; exploit the advantages of the North - South expressway and high-speed railway through Da Nang to connect with the Central Highlands.
MR. VU TIEN DUNG, DIRECTOR OF FUNDGO DANANG CREATIVE STARTUP INVESTMENT FUND:
Opening up new growth space for the business community
Da Nang's expansion of administrative boundaries and breakthrough development of science and high technology, along with dynamic models of free trade zones and international financial centers, are opening up new growth space for the business community.
This is not only an opportunity in terms of market size, but also a time for Da Nang businesses to reposition their role in the digital economy, gradually participating more deeply in the global value chain.
In that context, FundGo identifies its role as a source of accompanying capital and a platform to incubate innovative businesses, especially in the fields of fintech, blockchain technology, AI and digital assets.
On October 10, the digital asset trading platform DNEX launched in Da Nang.
Previously, HVA Joint Stock Company was working with partners to build a standard framework for eKYC/AML, periodic reporting and information security, to help local businesses have the capacity to meet international requirements and easily connect with global investors.
Fundgo not only provides capital but also participates in the business development journey, from ideation, testing to product commercialization.
We are working towards a common vision: building a transparent, safe, and sustainable digital financial ecosystem for Vietnam, starting with Da Nang.
Source: https://baodanang.vn/da-nang-but-pha-tu-hien-thuc-hoa-co-che-dac-thu-ky-cuoi-chuyen-hoa-co-che-dac-thu-thanh-loi-the-canh-tranh-3308862.html
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