International Financial Center and the aspiration to participate in the global financial market

The International Finance Centre in Da Nang is a symbol of Vietnam's strong rise.

Considered a bold "statement".

In early July 2025, the joint venture between Terne Holdings Group and The One Destination Joint Stock Company signed a memorandum of cooperation with Da Nang City to develop an International Financial Center in Da Nang. In addition to coordinating research and proposing specific policy mechanisms for developing an International Financial Center linked to green finance, fintech, and trade finance, the two groups will support their staff in learning from and interning at major international financial centers around the world .

Terne Holdings and The One Destination are also committed to implementing the licensed projects in the Da Nang International Financial Center and the Da Nang Free Trade Zone to the best of their ability… This is a concrete step that Mr. Andy Khoo, General Director of Terne Holdings, had previously committed to when sharing about the advantages of the Da Nang International Financial Center.

Terne Holdings' leaders affirmed that, with its many advantages, the International Financial Center in Da Nang could contribute an additional $3-5 billion annually to Vietnam's GDP. According to Mr. Andy Khoo, with three strategic pillars – green finance, fintech innovation, and trade finance – the International Financial Center in Da Nang will capitalize on opportunities and strengths. “The International Financial Center in Da Nang is not just a development project, but also a bold declaration of Vietnam's aspirations for the global financial market. Let me borrow the words of President Ho Chi Minh : 'For the benefit of ten years, plant trees. For the benefit of a hundred years, cultivate people.' Together, we will not only create an International Financial Center, but also a lasting legacy, a symbol of Vietnam's strong rise in the international financial market,” Mr. Andy Khoo shared.

New economic space

Resolution No. 222/2025/QH15 of the National Assembly on the establishment of an International Financial Center in Vietnam, located in Ho Chi Minh City and Da Nang, is a strategic step, creating an economic springboard and enabling the country to participate in the global financial market. In the context of global capital flows and strong digitalization trends, opportunities are abundant.

Therefore, both Ho Chi Minh City and Da Nang are racing against time. While Ho Chi Minh City has prepared land, trained human resources, and collaborated with many partners, Da Nang is also actively involved, having prepared all the necessary conditions and ready to establish an International Financial Center in the near future.

Recently, Da Nang City established the Advisory Council for the construction of the Vietnam International Finance Center, bringing together many experts, bank leaders, and domestic and foreign businesses to research, advise, and propose strategies and plans for the center's development; management models, organizational structure, and operating mechanisms. In addition, it will also discuss preferential policies regarding finance and land allocation; mechanisms to attract international experts and Vietnamese intellectuals abroad…

Regarding land resources, Da Nang will soon complete the construction of a 22-story building at Software Park No. 2 with a total floor area of over 27,000 m2 to immediately meet the operational needs of the Vietnam International Finance Center in Da Nang. During the period 2025-2027, Da Nang City will promote investment in infrastructure and develop the ecosystem of the International Finance Center on nearly 18 hectares of cleared land near the coast to immediately build the International Finance Center. Of this, the core area of the International Finance Center covers 6.17 hectares, located on five prime land plots along Vo Van Kiet Street. The Financial Technology Center is located on a plot of land northwest of the access road to Thuan Phuoc Bridge in Hai Chau (new) ward, with a total area of 9.7 hectares, right near Software Park No. 2. In the long term, by 2030, Da Nang will transform the Da Nang Industrial Park into the An Don Financial District, covering an area of 62 hectares. Furthermore, Da Nang City is also implementing a land reclamation project in Da Nang Bay, a project with a scale of nearly 1,500 hectares; characterized by the creation of artificial islands and land reclamation, adding approximately 48 km of new coastline…

To date, many major investors have expressed interest in the International Financial Center in Da Nang, such as Makara Capital, Terne Holding, and the Trump Organization. These financial institutions and strategic investors are ready to pour tens of billions of USD into the construction of the Da Nang International Financial Center through the PPP model…

As a financial center emerges, the demand for fast, low-cost, and highly secure transactions will drive blockchain technology to become a strategic tool. This will not only help Da Nang affirm its position as a destination for digital finance, but also create an advantage for the city to become a regional blockchain hub, leading the trend of financial innovation in the digital age.

Da Nang leaders affirmed the city's determination to quickly establish an International Financial Center to anticipate the development trends of the digital economy and international integration. The goal is not only to build a trading center, but also an ecosystem of advanced finance and technology, integrating services such as fintech, blockchain, digital payments, and green finance.

Source: https://baodautu.vn/trung-tam-tai-chinh-quoc-te-va-khat-vong-tham-gia-thi-truong-tai-chinh-toan-cau-d374681.html