Da Nang prepares land fund to build financial center

Along with the comprehensive International Financial Center planned to be located in Ho Chi Minh City,

The Politburo has also approved the policy of building a Regional Financial Center in Da Nang City. To realize this plan, Da Nang has arranged independent land areas with clear boundaries but closely coordinated with each other to form a cooperative ecosystem, contributing to the provision of international financial services.

Specifically, the city has allocated land lots A12, A13, A14, A15 on Vo Van Kiet Street and land lot A* located near the intersection of Vo Nguyen Giap and Vo Van Kiet Streets (Son Tra District) with a total area of 6.17 hectares. These land lots will be used to develop a commercial complex, financial center and high-end entertainment area.

In addition, to support financial technology (Fintech) projects, Da Nang is also considering developing a Fintech center on the land northwest of the road leading to Thuan Phuoc Bridge, with an area of 9.7 hectares. This area will be connected to the IT infrastructure with the adjacent Software Park No. 2, contributing to the construction of a modern and synchronous technology ecosystem.

In the long term, Da Nang City is studying a plan to transform Da Nang Industrial Park into An Don International Financial District. The goal is to create new land funds to expand development space, build a comprehensive development complex in both scale and space, and increase attractiveness to strategic investors, thereby attracting more investors to the financial center.

Da Nang City leaders said they are actively coordinating with ministries and branches to develop specific plans and projects to implement the Regional Financial Center according to the direction of the Politburo . The Da Nang Financial Center model is designed with 3 main components.

Firstly, the offshore financial center, which focuses on attracting international investors, establishing financial institutions and market organizations, providing integrated offshore financial services, related to domestic and regional currency and capital markets.

Second, the Fintech Center, which applies technology to provide financial services under a specific licensing mechanism, supports fintech service connections and funds startups in various business sectors.

Finally, ancillary activities include utility services that support financial activities in the center, to ensure a sustainable and comprehensive ecosystem development.

Source: https://nld.com.vn/da-nang-chuan-bi-quy-dat-xay-trung-tam-tai-chinh-196250103201433075.htm