Strategic vision

The selection of Da Nang as a base for developing an international financial center is not only an economic development goal, but also a new growth driver, integrating Vietnam into the regional financial flow.

Chairman of Da Nang City People's Committee Pham Duc An (left) signs a memorandum of cooperation with representatives of the Abu Dhabi Global Finance Centre. Photo: MAI QUE

Innovation, green, and sustainable investment

Resolution No. 29-NQ/TU dated April 26, 2025, on the establishment of the Vietnam International Finance Center in Da Nang City, stipulates that by 2030, the finance center will be built and operated effectively. The vision for the finance center is to become a center of innovation, green development, and sustainable investment.

Functionally, the Da Nang Financial Center will serve as a regional investment bridge, a gateway for financial integration, a promoter of new economic sectors and technologies, and a connector of major financial centers. Furthermore, the Financial Center will develop in a specialized direction, based on three main pillars: green finance, trade finance, and financial technology/digital assets.

Elaborating further on the orientation, Deputy Director of the Department of Finance Dang Dinh Duc stated that, regarding the first two pillars, Da Nang focuses on developing cross-border trade finance associated with seaports, logistics, international tourism , along with offshore financial services for global organizations, businesses, and investors. In particular, emphasis is placed on creating a favorable financial environment for small and medium-sized enterprises (SMEs) as well as innovative startup projects.

Simultaneously, the city will encourage green financial products and initiatives to align with the national net-zero emissions target and the international vision for sustainable development, leveraging the potential of renewable energy and sustainable tourism.

As for the third pillar, the city aims to become a "laboratory" for new financial models, ranging from digital assets, cryptocurrencies, and digital payments to solutions utilizing blockchain technology and AI, coupled with the robust development of fund management to support fintech startups.

“These pillars will create a diverse, dynamic, and innovative financial ecosystem linked to core values ​​such as green, smart, digital, innovative, inclusive, and customer-centric, leveraging the advantages of its geopolitical and economic location, living environment, and urban infrastructure to make Da Nang a financial center,” Mr. Duc said.

Ready to enter the global arena.

At the latest meeting of the National Steering Committee on International Financial Centers, the Prime Minister requested Ho Chi Minh City and Da Nang to prepare the necessary conditions, issue and publicly announce specific policies and regulations within their authority, and strive to have the International Financial Center operational by the end of 2025.

Vice Chairman of Ho Chi Minh City People's Committee Ho Quang Buu (right) presents a memorandum of cooperation to the Chairman of the Swiss-Vietnam Economic Forum (SVEF), Philipp Rosler. Photo: MAI QUE

In response to the above requirements and to ensure thorough preparation, Da Nang established a preparatory committee and support team, formed an advisory council, and simultaneously launched a trial operation of the International Finance Center's operating agency. It also developed a one-stop administrative procedure system and compiled an investment handbook based on international experience, in order to be ready for practical implementation after the establishment of the Vietnam International Finance Center.

Recognizing that human resources are a key factor, Da Nang selects talented officials, including associate professors, PhDs, financial specialists, and judges with international training, to undertake internships and attend intensive training courses at major financial centers. Currently, training institutions in the area are developing long-term training programs in international finance, financial technology (Fintech), and international commercial law in a bilingual format, integrating international professional certifications to provide high-quality human resources to directly serve the financial center.

Strategic vision

The project to develop Da Nang into a regional financial center by 2030, with a vision to 2045, stipulates that after 2030, Da Nang will transform its financial center model to provide financial services not only domestically but also expand to several countries in the Asia-Pacific region, aiming to become a regional financial center by 2045.

Perspective view of the Vietnam International Finance Center in Da Nang city. Photo: Archival material.

During the Da Nang city leaders' working visit to Switzerland on November 12th, Deputy Secretary of the City Party Committee Ngo Xuan Thang emphasized that, with its open investment attraction policies and wide-ranging opportunities, the city is offering many incentives to businesses. The aspiration to build an international financial center in Da Nang is not only an economic goal but also a symbol of Vietnam's spirit of innovation, integration, and aspiration to reach international standards in the digital age.

Previously, at the Vietnam International Finance Centre Investment Promotion Conference organized by the Ministry of Finance in coordination with the Vietnamese Embassy in Germany, the Vietnamese Consulate General in Frankfurt, and the Da Nang City People's Committee, Chairman of the Da Nang City People's Committee Pham Duc An affirmed: "Da Nang City is committed to accompanying investors throughout the entire process, from idea to implementation, ensuring a transparent, flexible legal framework that conforms to international standards."

Thereby, creating a safe, modern, friendly, and promising working and living environment to build and develop a modern, innovative, and trustworthy international financial center in the Asia-Pacific region.”

To date, Da Nang has signed nearly 20 cooperation agreements with global financial and technology institutions, including Abu Dhabi Global Market, Binance, Bybit, Tether, APEX Group, the Swiss Fintech Association, etc., to share management and operational experience, train human resources, and connect and introduce investors, financial institutions, and investment funds to the Vietnam International Financial Center in Da Nang.

Source: https://baodanang.vn/tam-nhin-chien-luoc-3310996.html