Building a center of innovative, green finance and sustainable investment

The City People's Committee and relevant agencies are studying the exploitation of the ICT building at Da Nang Software Park No. 2 to organize the operation of a financial center. Photo: M.QUE

Development in a specialized direction

The Da Nang City Financial Center is a strategic project, serving the national interest and local 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.

The financial center will focus on specialized fields, resonating with the advantages of the city's geopolitical - economic position and living environment, urban infrastructure, tourism and resort services, in which the priority focus, encouragement and investment attraction are determined to focus on the pillars: international finance, including green finance activities, trade finance serving small and medium enterprises, non-resident organizations and individuals (offshore services), cross-border trade activities of free trade zones, high-tech zones, open economic zones, industrial parks, etc.; financial technology innovation (fintech), implementing controlled testing (sandbox) of a number of new models such as: digital assets, digital money, payment, digital money transfer, thereby attracting investment funds, remittance funds, small and medium-sized fund management companies, promoting the development of startups providing financial solutions; Support activities, consulting, developing related legal services.

The financial center has four functions. The first is a regional investment bridge, providing commercial credit and financial solutions for Vietnam's import and export activities, supporting the money transfer system and digital payment for cross-border transactions in the Asia-Pacific region. The second is a regional financial integration gateway, establishing a green financial transaction platform, attracting and circulating domestic and foreign investment capital, especially in the North Central and Central Coast regions, providing diverse and specialized financial services, helping individuals, organizations, small and medium enterprises access capital, manage risks and expand production and business activities.

The third is to promote new economic sectors and technology to provide venture capital, trading platforms, and crowdfunding to support fintech startups, encourage innovation, and diversify the economic structure. The fourth is to connect major financial centers to conduct controlled testing of fintech models, innovate technology to serve consumer life, tourism, trade, logistics, and integrate into the developed ecosystems of other international financial centers, increasing integration and competitiveness.

The leaders of the City People's Committee worked with the Asia-Pacific Financial Institutions Advisory Department and the International Finance Corporation (IFC) to consult on experience in building a financial center. Photo: M.QUE

Prepare resources

Regarding the immediate tasks, the City People's Committee and relevant agencies focus on reviewing, completing and preparing infrastructure to serve the financial center, including studying the exploitation of the ICT building at Da Nang Software Park No. 2 to organize the operation of the financial center; at the same time, studying the exploitation and use of planned land areas such as Phuoc My ward (Son Tra district), Thuan Phuoc ward (Hai Chau district), Da Nang industrial park, and the reclaimed land area in Da Nang bay. The City People's Committee studies and proposes component projects on information technology, traffic infrastructure, and technical infrastructure to serve the financial center in the medium-term public investment plan for the period 2026-2030; closely coordinates with investors to ensure the operating conditions of the financial center after it is put into operation in the third quarter of 2025.

Regarding personnel, the City People's Committee and relevant agencies select personnel, establish a preparatory committee and ensure operating conditions for the financial center's management agency; at the same time, research plans to hire international experts and personnel with capacity and experience to participate in the management and operation of the financial center, and in parallel research and propose mechanisms and methods for management, operation and supervision of the financial center; organize city delegations to study and learn the establishment and operation models of international financial centers, promote investment and cooperate with domestic and foreign partners. In addition, proactively organize training courses and foster knowledge about financial centers for officials, civil servants and public employees of agencies, units and localities.

In the period of 2025-2030, the city will attract strategic partners, financial groups, domestic and foreign institutions to invest and operate in the financial center; promote the establishment of international financial research centers, financial technology, and blockchain to support expertise, techniques, and consulting on mechanisms and development policies in the fields of finance, financial technology, and financial services. Attract 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...

The city focuses on training, fostering, and attracting high-quality human resources to serve the management, operation, and supervision of activities at the financial center; organizing domestic and international investment promotion activities, building a brand for the modern, open, prestigious, and competitive Da Nang Financial Center; exploiting and effectively using resources from the Central, local, and social levels to manage and coordinate the implementation of infrastructure investment projects; coordinating with central ministries and branches in selecting strategic investors to build and develop the financial center.

CINNAMON

Source: https://baodanang.vn/kinhte/202505/xay-dung-trung-tam-tai-chinh-doi-moi-xanh-va-dau-tu-ben-vung-4006157/