Positioning as a pioneering financial destination.

At the Switzerland-Vietnam Economic Forum 2025, regulators, experts, and financial institutions stated that Da Nang is actively transforming itself to become a pioneering financial destination.

Delegates attending the thematic session "Developing an International Financial Center" within the framework of the Switzerland-Vietnam Economic Forum 2025, held on November 4th in Da Nang. Photo: MAI QUẾ

Leveraging technological advantages

Regarding the development context of Da Nang , Phan Duy Anh, Deputy Director of the city's Department of Finance, stated that Da Nang has inherent advantages in information technology and digital transformation, as evidenced by numerous international and domestic awards. Currently, the city is developing seven data centers; has achieved 5G coverage with the highest average speed in Vietnam; and is preparing procedures to invest in a second onshore submarine fiber optic cable station, contributing to ensuring Vietnam's international connectivity.

At the latest meeting of the National Steering Committee on International Financial Centers, government leaders requested that Da Nang and Ho Chi Minh City, within their authority, functions, and responsibilities, issue mechanisms and policies regarding international financial centers and prepare the location and operational structure before November 15th. In response to this request, the cities are making efforts to complete the preparatory stages to be ready to operate the international financial centers.

From a sustainable investment perspective, Michael Langford, Director of Airguide Group, sees two main factors attracting investment to Da Nang: a commitment to green transformation and the potential for infrastructure development.

Accordingly, businesses highly appreciate the city's focus on sustainable development, including initiatives in renewable energy, smart city technology, and green urban planning; this is especially relevant given Da Nang's development as a financial center with a focus on innovation and sustainable investment. The city can attract not only capital, but also capital that is suitable for the long-term, resilient, and comprehensive development of Central Vietnam.

Similarly, Mr. Nguyen Ba Hung, representative of the Asian Development Bank (ADB), noted that for many years, ADB has had close cooperation with Da Nang in supporting the development of sustainable urban infrastructure, especially in building a smart city. This includes crucial components such as smart urban management, smart transportation, the application of technology in public services, and particularly the development of a sustainable financial and investment ecosystem.

Da Nang's development of an international financial center is a correct step and comes at the right time. We see that the demand for capital and financial services for the development of the Central region and Vietnam as a whole is very high.

The construction of the Da Nang Financial Center will not only help Da Nang attract foreign investment and technology, but also enable businesses, especially small and medium-sized enterprises, to access modern, high-quality financial services and capital to develop their production and business and participate in global value chains.

New motivation, new opportunities.

According to Mr. Nguyen Anh Tuan, Deputy Director of the Foreign Investment Department (Ministry of Finance), Da Nang is focusing on exploiting and maximizing new growth drivers, namely the development of a financial center and a free trade zone. In this context, the international financial center is not just a place for pure transactions, but also a hub for capital, human resources, technology, and legal frameworks; operating according to market principles, with competition while still ensuring national governance and financial security.

With the consensus of the National Steering Committee on International Financial Centers, a model of one center and two locations will be built on a complementary basis. Da Nang, a city with a crucial economic and political position, a gateway connecting East and West, and the center of the South Central coastal region, possesses all the necessary conditions in terms of infrastructure, institutions, living environment, high-quality human resources, and comprehensive policies.

In the coming period, in order to develop and maximize this new growth model, the city needs to focus on niche markets such as green finance, carbon credit trading, and cross-border trade finance associated with the development of the Free Trade Zone.

According to Mr. Le Anh Dung, Deputy Director of the Payment Department of the State Bank of Vietnam, the roadmap for Vietnam's International Financial Center has been determined. Accordingly, Vietnam aims to establish the core infrastructure and legal framework by 2028.

The financial center will offer attractive mechanisms such as: tax incentives for financial institutions and specialized investment funds; simplified administrative procedures and a dedicated "one-stop shop" for foreign investors; a legal framework for cross-border capital flows and digital finance that conforms to international standards, especially in key European markets such as Switzerland.

“In particular, Da Nang is actively developing a sandbox mechanism to allow the piloting of innovative financial products, including in the fields of green finance and asset management, in a controlled environment. We understand that trust and regulatory certainty are paramount for international partners in general,” Mr. Dung said.

Source: https://baodanang.vn/dinh-vi-diem-den-tai-chinh-tien-phong-3309196.html