Da Nang is ready to lay the foundation to build a financial center.

Ready-to-use clean land

According to Mr. Nguyen Van Quang, Secretary of the Da Nang City Party Committee, Da Nang has met all the conditions to soon establish a regional financial center in Da Nang. "Immediately after the National Assembly approves the Resolution on the Vietnam Financial Center, Da Nang City will establish a preparatory committee for the establishment of a regional financial center in the city," Mr. Quang shared regarding Da Nang's readiness.

Regarding land for the development of the regional financial center, Da Nang City has planned and allocated clean land within the city center. In 2025, Da Nang will use a portion of the area within Software Park No. 2 to provide temporary office space for the preparatory committee for the establishment of the regional financial center and for the agencies and organizations belonging to the regional financial center in Da Nang City after its establishment.

By the end of 2025, Da Nang will complete the investment and construction of a 22-story building in Software Park No. 2 with a total floor area of over 27,000 m2 to immediately meet the operational needs of the regional financial center in Da Nang City.

During the period 2025-2027, Da Nang will promote investment in infrastructure and develop a financial center ecosystem on nearly 18 hectares of cleared land near the coast to immediately build a regional financial center. In the long term, by 2030, the city will transform the Da Nang Industrial Park into the An Don Financial District, covering an area of 62 hectares.

Da Nang is also implementing a land reclamation project in Da Nang Bay, covering nearly 1,500 hectares. This project features artificial islands and land reclamation, creating approximately 48 km of new coastline and forming a new urban area with functions including a free trade zone, a regional financial center, and high-end tourism , resort, and shopping services.

In addition, Da Nang City is preparing the necessary infrastructure to support the formation of a regional financial center ecosystem, by accelerating the implementation of important projects in the fields of science, technology, and innovation such as the Artificial Intelligence Lab Project; Da Nang Innovation Space; Software Park No. 2; Viettel Da Nang Building; Hoa Xuan Innovation Space Project…

Attracting strategic investors

A crucial element in forming a financial center is human resources and attracting financial institutions, and Da Nang has all the necessary resources.

Mr. Nguyen Van Quang stated that many strategic investors are interested in and ready to invest in the regional financial center in Da Nang. To date, the city has received significant interest and concrete commitments from more than 10 investors.

In particular, three joint ventures of investors, namely Makara Capital, Terne Holding, and Trump Organization, expressed interest, sought to learn more, and wished to be selected as strategic investors to develop a regional financial center in Da Nang, focusing on innovation, green finance, fintech, and trade finance; and conducting controlled trials of new models such as digital assets and cryptocurrencies.

Regarding human resources, Da Nang City has prepared personnel and will immediately establish a preparatory committee for the establishment of a regional financial center with 27 members and an advisory council of 10 people, including international experts in finance and monetary affairs with experience in managing and operating international financial centers, as well as domestic financial experts. In addition, 10 civil servants and officials will be sent to learn from the experience of major international financial centers.

“The regional financial center in Da Nang has received significant attention from financial institutions and strategic investors. In particular, investors are very interested in five coastal land plots and are ready to invest approximately $11 billion USD under the PPP (Public-Private Partnership) model to build the financial center,” Mr. Nguyen Van Quang shared.

According to the Da Nang City People's Committee, during the implementation process, the city closely coordinated with the Ministry of Finance to gather opinions from financial institutions, investment funds, consulting firms, law firms, and reputable international organizations, as well as other domestic and international organizations and experts, to collaborate in the development; and consulted on the Draft Resolution of the National Assembly on an International Financial Center in Vietnam. This is a crucial factor in preparing the city for the establishment of a financial center.

Source: https://baodautu.vn/da-nang-san-sang-nen-tang-xay-dung-trung-tam-tai-chinh-d314703.html