The Standing Committee of the Da Nang City Party Committee has just issued Resolution No. 29-NQ/TU dated April 26, 2025 on building the Vietnam International Financial Center in Da Nang city.
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| Strive to build and effectively operate the Da Nang City Financial Center by 2030. Photo: PV |
The Da Nang City Financial Center is a strategic project, serving the national interest and the city's development in accordance with Resolution No. 43-NQ/TW of the Politburo (12th tenure) on the construction and development of Da Nang City to 2030, with a vision to 2045, Conclusion No. 79-KL/TW of the Politburo (13th tenure) on continuing to implement Resolution No. 43-NQ/TW and Notice No. 47-TB/TW of the Politburo concluding on the construction of a regional and international financial center in Vietnam.
By 2030, build and effectively operate the Da Nang City Financial Center.
The Resolution clearly states that it is necessary to exploit the maximum resources of the Central Government, the city and society, in which internal resources are decisive, strategic, fundamental and long-term; external resources are important and breakthrough; ensuring the leadership of the Party Committee, the management of the State and promoting the strength of the whole society.
This is a new task with many complex and unprecedented contents; it must be carried out resolutely, persistently with firm, positive, proactive steps, learning from experience as we go, and with focus and key points.
Make full use of opportunities, advantages, and specific, breakthrough policies, orientations, mechanisms, and policies of the Politburo, Government, and National Assembly to resolutely build and develop the Da Nang City Financial Center effectively.
By 2030, strive to build and effectively operate the Da Nang City Financial Center, attracting strategic partners, financial institutions, support services, legal services, and international and domestic legal, accounting, auditing consulting units to invest and operate in the Da Nang City Financial Center.
The financial center will become a center for innovation, green and sustainable investment for the Asia-Pacific region; a regional center for financing and developing small and medium enterprises and startups; a center for digital payments and technology-based innovation in the financial sector.
The Da Nang City Financial Center will focus on specialized areas such as green finance, trade finance serving innovative businesses, small and medium enterprises, non-resident organizations and individuals (such as offshore financial services), cross-border trade activities associated with Free Trade Zones, high-tech zones, open economic zones, industrial parks, etc.
Controlled testing of a number of new models such as digital assets, digital currencies, payments, digital money transfers, attracting investment funds, remittance funds, small and medium-sized fund management companies, promoting the development of startups providing financial solutions for consumer life, tourism, trade, logistics to resonate with the advantages of geopolitical - economic location and living environment, urban infrastructure.
Attracting strategic partners, financial groups
In terms of function, the Da Nang City Financial Center will be a regional investment bridge, a gateway for financial integration, promoting new economic sectors and technology, and connecting major financial centers.
Regarding development orientation, Da Nang proactively and actively coordinates with the Ministry of Finance and central ministries and branches to propose competent authorities to issue specific, outstanding, competitive mechanisms and policies, in accordance with international practices, common in major financial centers around the world and suitable to the reality in Vietnam.
Specifically, applying foreign laws according to agreements (English Common Law) to regulate economic, financial and commercial activities in the International Financial Center; foreign investment policies, annual transfer of capital, profits and legal income abroad.
Mechanisms for the formation, use, sharing and connection of databases seamlessly with international financial centers around the world; use of English in the International Financial Center; application of special, streamlined administrative procedures according to the on-site one-stop model; special investment procedures for infrastructure development investment projects and support services in the financial center.
Visa exemption for foreigners working in international financial centers; strong enough policies to attract high-quality human resources to work in management agencies in financial centers (experts, scientists, judges, etc.); support training of human resources working in international financial centers.
In the period of 2025-2030, the city will attract strategic partners, financial groups, domestic and foreign institutions to invest and operate in the Da Nang City Financial Center; promote the establishment of international financial research centers, financial technology, and blockchain to support expertise, technology, and consulting on mechanisms and development policies in the fields of finance, financial technology, and financial services.
Attracting investment in hard and soft infrastructure in the Financial Center associated with the Da Nang Free Trade Zone and the city's key and dynamic projects such as urban railways, sea encroachment space in Da Nang Bay, etc.
Focus on training, fostering, and attracting high-quality human resources to serve the management, operation, and supervision of activities at the Da Nang City Financial Center; organize domestic and international investment promotion activities, and build a brand for the modern, open, reputable, and competitive Da Nang Financial Center.
Exploit and effectively use resources from the Central, local and social levels to manage and coordinate the implementation of infrastructure investment projects; coordinate with central ministries and branches in selecting strategic investors to build and develop the Financial Center.
Party committees, party organizations, authorities, Vietnam Fatherland Front Committee, Propaganda and Mass Mobilization Commission of the City Party Committee, departments, branches, and localities focus on disseminating and propagating the policy of building and developing an international financial center in Vietnam in general and the Da Nang financial center in particular, creating a unified awareness and consensus in society to organize implementation, considering this an important political task.
CINNAMON
Source: https://baodanang.vn/kinhte/202504/nghi-quyet-ve-xay-dung-trung-tam-tai-chinh-quoc-te-viet-nam-tai-thanh-pho-da-nang-4005906/
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