Successfully building an international financial center will open a new chapter for Da Nang.

Da Nang is not only an important maritime economic “gateway” for the Central Highlands, but is also expected to be a modern international financial center (IFC), associated with technology, green - sustainable and deeply integrated. The determination of the Da Nang City government, along with the strong support of international experts, is creating a great driving force to help turn this aspiration into reality.

Voice of faith and vision​​​​​​​​​

At many recent international conferences, financial experts and leaders of international organizations have expressed strong confidence in the potential of IFC Da Nang .

Chairman and CEO of KPMG Vietnam and Cambodia, Mr. Warrick Cleine, shared at the workshop “Developing International Financial Centers in Vietnam” that: for IFC Da Nang to be successful, close cooperation between management agencies, financial services and professional services is needed. Mr. Warrick Cleine pointed out 4 strategic pillars including: legal framework (entry regulations), finance - accounting (applying IFRS), clear tax policy and developing high-quality human resources, including attracting both international experts and nurturing domestic talent.

Mr. Warrick Cleine pointed out four strategic pillars: legal framework (entry regulations), finance - accounting (applying IFRS), clear tax policy and developing high-quality human resources, including attracting both international experts and nurturing domestic talent.

Mr. Richard McClellan, Global Ambassador of Terne Holding in Singapore and former Director of the Tony Blair Institute, believes that the “dual-city” model (two financial cities: Da Nang and Ho Chi Minh City) will bring about synergy instead of competition.

According to Mr. Richard McClellan, Da Nang and Ho Chi Minh City can support each other, taking advantage of their own advantages to build a sustainable international financial system.

“Successful IFCs need a governance environment that is transparent, stable, trustworthy and in line with international standards,” said Andreas Baumgartner, co-founder and CEO of The Metis Institute. “This includes clear regulation, effective supervision and the ability to mobilize global capital.”

Similarly, expert Ali Ijaz Ahmad, CEO of Makara Capital (Singapore), also saw the creative stature when he described Da Nang as “Asia’s Silicon Valley”: where ideas, capital and talent meet.

Mr. Ali Ijaz Ahmad said that to achieve this, Da Nang needs a legal framework to protect intellectual property rights, high-speed Internet connection and an international education and training system. These comments are not only encouragement, but also a clear strategic direction, contributing to strengthening the vision of IFC Da Nang as a financial center that is not only national but also international.

The government 's determination​​​​​​​

To successfully build a regional and international financial center model, the Da Nang government is vigorously implementing preparatory steps for the IFC. Accordingly, Deputy Prime Minister Nguyen Hoa Binh once affirmed that Da Nang City has "resolutely prepared both hard and soft infrastructure": established a Preparation Committee, an advisory council of domestic and foreign experts; established a sandbox mechanism for fintech and digital assets.

Chairman of Da Nang People's Committee Pham Duc An signed a Memorandum of Understanding on cooperation on the Financial Center with Frankfurt Main Finance Company.

At the cooperation conference with Frankfurt Main Finance, Mr. Pham Duc An, Chairman of the Danang People's Committee, affirmed that the city is ready to accompany investors to build a "modern, creative and trustworthy" financial center in the Asia Pacific.

Prime Minister Pham Minh Chinh also asked Da Nang to mobilize maximum resources and complete infrastructure. At the same time, build a flexible legal framework for IFC to develop in a breakthrough direction. In addition, according to the official report, Da Nang has established an IFC executive agency with specialized departments such as strategy, legal affairs, human resources, technology - digital transformation, international cooperation and must have an advisory board consisting of experienced domestic and foreign experts.

Connecting IFC and export infrastructure​​​​​​​​

The development of IFC Da Nang is inseparable from the city’s export infrastructure goals. The Da Nang government recognizes that a modern financial center will greatly complement the three pillars of infrastructure: seaport logistics, high-tech industry, and digital infrastructure. Factors that Da Nang City has prioritized.

When the IFC model develops, it will support international capital flows into seaport projects (Lien Chieu, Tien Sa, Tam Hiep, ...), logistics, and high technology; create a professional and transparent financial market to support export enterprises, very small enterprises (SMEs) and technology startups; mobilize global investors in fintech, digital assets, green finance, contributing to economic diversification; Contribute to the "double-digit" export strategy and GRDP growth that the Department of Industry and Trade of Da Nang City has proposed for the period 2025-2030.

The Da Nang government is showing great determination: not only through plans, but also through actions.

The advice of international experts from KPMG to Makara Capital, Terne Holdings, Metis Institute, has fueled the belief that Da Nang has the basis to become a key international financial center. The experts not only discussed theory, but also gave practical recommendations on regulations, human resources, legal framework and operating model.

At the same time, the Da Nang government is showing great determination: not only through plans, but also through actions. The early establishment of a steering committee, an international advisory council, the development of a fintech testing mechanism, the completion of the connection between port infrastructure - digital platform - land, etc. shows that Da Nang leaders consider IFC an inseparable part of the regional economic development strategy.

At the conference to promote investment in the Financial Center in Vietnam held in Germany, in front of hundreds of investors, Mr. Pham Duc An emphasized: “Da Nang City is committed to accompanying investors to build a modern, creative and trustworthy financial center in the Asia - Pacific region. We are making efforts to build appropriate policies, test run the financial center management agency, support start-ups and promote the application of digital technology in finance.”

It can be said that the harmony between the strategic vision from the government and the experience and international orientation from experts is opening a new chapter for Da Nang: becoming a global financial bridge, an "investment gateway" for high-quality capital flows and a sustainable creative driving force for the Central Highlands.

Source: https://thoibaonganhang.vn/xay-dung-thanh-cong-trung-tam-tai-chinh-quoc-te-se-mo-ra-chuong-moi-cho-da-nang-173692.html