Efforts to attract international financial markets

Economic diplomacy is becoming a key driving force helping Da Nang move closer to its goal of building an international financial center. The series of activities in Switzerland and Austria last November opened up many opportunities in green finance, high technology, and sustainable development.

The Da Nang City delegation poses for a commemorative photo with the Vietnamese Embassy in Switzerland. Photo: Da Nang City People's Committee.

Proactively attract international resources.

In its development orientation, Da Nang identifies finance and technology as two strategic pillars to transform the city into a knowledge-based economy , innovation hub, and international integration center of Vietnam.

To realize this, the city views economic diplomacy as a key driving force, playing a leading role in expanding international cooperation and attracting strategic resources. This spirit is also concretized by the foreign affairs sector in the 2025-2030 period, with the goal of deepening the city's integration process and effectively connecting with international resources to serve socio-economic development.

In early November, the first-ever Switzerland-Vietnam Economic Forum was held in Da Nang, becoming a significant economic diplomatic event that opened up new opportunities for cooperation in finance and high technology. This affirmed Da Nang's position in the network connecting with leading global innovation centers.

At the forum, the City People's Committee signed a Memorandum of Understanding with the Swiss-Vietnamese Economic Forum (SVEF), creating a comprehensive cooperation framework in strategic areas such as attracting investment into free trade centers, international financial centers, logistics, innovative startups, and tourism.

This is a concrete step by the city in leveraging cooperation opportunities from Switzerland, a country with outstanding strengths in finance, technology, and innovation. Speaking at the forum, SVEF President Philipp Rösler assessed Da Nang as a dynamic city with a strategic vision. “We are proud to partner with Da Nang in developing a modern and sustainable international financial center, contributing to deepening Vietnam-Switzerland cooperation,” Mr. Philipp Rösler stated.

The first-ever Switzerland-Vietnam Economic Forum, held in Da Nang, opens up new opportunities for cooperation in the fields of finance and high technology. Photo: T. Phuong

Following the success of the Switzerland-Vietnam Economic Forum 2025, Da Nang continues to implement a series of economic diplomacy activities in Switzerland to expand cooperation, mobilize resources, and access international expertise in the fields of finance and technology.

On November 10th, a delegation from the city, led by Deputy Secretary of the City Party Committee Ngo Xuan Thang, held a working meeting with the Swiss Federal Department for Economic Affairs (SECO) to discuss technical and financial support for sustainable development and infrastructure projects. This is a strategic step to ensure sustainability and international standards for major projects in Da Nang.

Following that, the delegation held a working session with the Mayor of Lugano, Michele Foletti – a city renowned as Switzerland's digital innovation hub, particularly in the fields of blockchain and the digital economy. Lugano's experience in developing a digital city serves as an important reference for Da Nang to refine its management model and pioneering legal framework for Fintech (financial technology), facilitating the establishment of a Vietnam International Financial Center in Da Nang.

International cooperation to build a financial center.

Simultaneously, the city intensified its efforts to attract financial and technology partners through the seminar "Da Nang - A New Destination for Fintech and Green Finance" in Zurich. The event attracted approximately 20 representatives from corporations, investment funds, and Fintech businesses such as Swiss Fintech Association, NayaOne Limited, Tether, Tenity, etc.

The Switzerland-Vietnam Economic Forum 2025 opens opportunities to attract investment in the financial sector to Da Nang. In the photo: Vice Chairman of the Da Nang People's Committee Ho Quang Buu (center) with delegates attending the forum. Photo: T. Phuong

Here, Da Nang received extensive professional advice on the operational model of an international financial center, covering aspects from the legal framework and intellectual property to export control. These are core elements in creating a safe and transparent investment environment in accordance with European standards.

Speaking at the seminar, Deputy Secretary of the Da Nang City Party Committee Ngo Xuan Thang emphasized that the support of international experts and businesses is proof of Da Nang's confidence and aspirations for development. He affirmed that the city aims to build an international financial center with pillars such as green finance, Fintech and digital assets, and trade finance; and expressed his desire for Da Nang to become a "laboratory" for new financial models. The city is committed to continuing to open up to cooperation, creating a transparent, stable, and favorable investment environment for domestic and foreign businesses.

From Switzerland, the delegation continued its work in Vienna (Austria), where a seminar titled "Da Nang: An Emerging Financial and Technology Center in Vietnam" was held. Many Austrian businesses expressed their admiration for Da Nang's potential and development direction, and made proposals related to investment attraction policies, energy supply, infrastructure and transportation connectivity, waste treatment capacity and environmental protection, and cooperation in education and training of high-quality human resources.

The Austrian government and trade and investment promotion organizations are committed to supporting businesses in exploring markets, investment opportunities, and expanding connections and cooperation with Da Nang.

To date, the city has signed nearly 20 memoranda of cooperation with global organizations such as the Abu Dhabi Financial Market, Binance, Tether, APEX Group, the Swiss Fintech Association, etc., creating an important foundation for the formation of a future financial and technology ecosystem.

The series of economic diplomacy activities in Switzerland and Austria not only helped Da Nang expand its cooperation network with Europe but also deepened relations with leading countries in finance and technology. Diversifying partners and reducing dependence on traditional markets creates more room for the city to enhance its position and negotiating power on the international stage.

It is evident that economic diplomacy is becoming a crucial driving force for the city's transformation, gradually affirming Da Nang not only as the economic and social center of Central Vietnam but also demonstrating its pioneering role in leading other localities in the process of modern development.

Source: https://baodanang.vn/no-luc-thu-hut-thi-truong-tai-chinh-quoc-te-3314599.html