On August 22, 2025, Chairman of the Da Nang People’s Committee, Luong Nguyen Minh Triet, signed a decision to establish the Consulting Council for the construction of the Vietnam International Financial Center in Da Nang city.
The 18 members of the Consulting Council
The Consulting Council comprises 18 members representing various central ministries and sectors, including the Ministry of Finance, the Ministry of Science and Technology, the Ministry of Public Security, the State Bank of Vietnam, and more.
- Mr. Tran Dinh Thien, Member of the Prime Minister’s Policy Advisory Council, Member of the National Financial and Monetary Policy Advisory Council, Former President of the Vietnam Institute of Economics, and Chairman of the Consulting Council.
- Mr. Richard Dean McClellan, Former Country Director of the Tony Blair Institute in Vietnam and Vice Chairman of the Consulting Council.
- Mr. Pham Tien Dung, Deputy Governor of the State Bank of Vietnam and Member of the Council.
- Mr. Pham Duc Long, Vice Minister of Science and Technology and Member of the Council.
- Mr. Do Van Su, Deputy Director of the Foreign Investment Agency, Ministry of Finance, and Member of the Council.
- Mr. Le Thanh Hung, Deputy Director of the Economic Security Department, Ministry of Public Security, and Member of the Council.
- Mr. Hoang Van Cuong, Member of the Prime Minister’s Policy Advisory Council, Vice Chairman of the State Council of Professors, and Member of the Council.
- Mr. Truong Gia Binh, Member of the Prime Minister’s Policy Advisory Council, Chairman of FPT Corporation, and Member of the Council.
- Mr. Nguyen Trung Chinh, Member of the Prime Minister’s Policy Advisory Council, Chairman of CMC Corporation, and Member of the Council.
- Mr. Can Van Luc, Member of the Prime Minister’s Policy Advisory Council, Chief Economist of BIDV, and Member of the Council.
- Mr. Nguyen Tu Quang, Member of the Prime Minister’s Policy Advisory Council, General Director of BKAV, and Member of the Council.
- Mr. Babak Dastmaltschi, Former Chairman of Credit Suisse ON and Former Vice Chairman of UBS Zurich, Switzerland, and Member of the Council.
- Mr. Jochen Biedermann, Executive Director of the Global Alliance of International Financial Centers, and Member of the Council.
- Mr. Ali Ijaz Ahmad, Chairman of Makara Capital and Makara Innovation Fund, and Member of the Council.
- Mr. Andreas Baumgartner, Founder and CEO of The Metis Institute, Former Executive Director of the Dispute Resolution Authority, Dubai International Financial Center, and Member of the Council.
- Mr. Nguyen Duy Hung, Chairman of SSI Securities Joint Stock Company, and Member of the Council.
- Mr. Doan Ngoc Phi Anh, Vice Rector of the University of Economics, University of Da Nang, Member and Secretary of the Council.
The Consulting Council’s tasks include researching, consulting, and providing recommendations to the Chairman of the Da Nang People’s Committee and the Preparatory Committee for the management and operation of the Vietnam International Financial Center in Da Nang city.
The consulting content covers strategies and plans for the establishment and development of the Vietnam International Financial Center in Da Nang; governance models, organizational structures, and management mechanisms for the Center; promotional programs to attract strategic investors, financial institutions, investment funds, support services, legal services, and international and domestic consulting organizations to invest and operate in the Center.
Additionally, the Council advises on training investment programs to develop high-quality financial human resources, mechanisms to attract and utilize international experts and Vietnamese intellectuals working and studying abroad to work at the Center, and contributes to the development of legal documents to establish and operate the Center.
The Council also provides suggestions and feedback on urban planning and adjustments related to the development of the Vietnam International Financial Center in Da Nang.
“Determining the core of the management and operation of the international financial center is a high-quality human resource with extensive experience in the international financial market. Da Nang is building a financial mechanism to attract human resources from financial institutions in Europe, Singapore, Dubai, and the United States to work at the Vietnam International Financial Center in Da Nang,” said Mr. Nguyen Van Quang, Secretary of the Da Nang Party Committee, at the conference announcing National Assembly Resolution No. 222/2025/QH15 on the International Financial Center in Vietnam, held in Ho Chi Minh City on August 2, 2025.
Da Nang’s Determination
Mr. Nguyen Van Quang, Secretary of the Da Nang Party Committee, introduces the potential and investment opportunities in Da Nang and the International Financial Center at the Da Nang Investment Forum held in Singapore in March 2025, with the participation of over 200 leaders of international banks and investment funds.
According to Mr. Nguyen Van Quang, immediately after the issuance of National Assembly Resolution No. 222, Da Nang city formulated and issued Plan No. 671 to synchronously implement the Resolution, clearly defining the content of work, implementation roadmap, and responsibilities of agencies and units in consulting and organizing the implementation of tasks and solutions related to the establishment of the Vietnam International Financial Center in Da Nang.
Regarding infrastructure development, Da Nang has proactively planned and allocated strategic land funds, ensuring convenient locations within the developing urban area, connected to the international airport within a radius of 5-10 km, and clean land funds that meet legal requirements to attract strategic investors. Initially, a 22-story building in Software Park No. 2 with a construction floor area of over 27,000 square meters is expected to be put into use by the end of 2025.
In the period of 2025-2027, Da Nang city will focus on promoting investment in infrastructure and developing the financial ecosystem in the clean land lots with a planned area of nearly 6.17 hectares that meet international standards (this area is of great interest to international and domestic consortia for investment). In addition, the city has prepared land funds to form a financial technology center with a total area of over 11.6 hectares, adjacent to Software Park No. 2, which has been visited by the Prime Minister and has a special mechanism decree.
In the long term, Da Nang is implementing a project to form a national driving urban area in Danang Bay with an area of nearly 1,500 hectares to create an international standard urban space, developing according to green, smart, ecological, and sustainable criteria. It is expected to allocate about 282 hectares for the development of financial and commercial services, digital finance, and connections with the Hi-Tech Park and Da Nang Free Trade Zone.
In terms of digital infrastructure, Da Nang has been investing heavily in information technology infrastructure and innovation with many large-scale projects on Data centers, 5G telecommunications infrastructure, ground satellite infrastructure, and projects on semiconductors and artificial intelligence (AI) with the participation of many large corporations worldwide.
Regarding human resources, Da Nang has proactively built policies to develop high-quality human resources, including supplementing human resources serving the International Financial Center in the Resolution of the City People’s Council issued in the June session. Five comprehensive training programs are being implemented to serve the Center.
In addition to the two training programs focusing on undergraduate, master’s, and doctoral levels with a bilingual orientation and integration of international vocational certificates, there are also short-term training programs, including basic programs from 2-3 days, programs taught by foreign lecturers in the country from 5-7 days, and in-depth training programs abroad from 1-2 months.
“With the aspiration to build an International Financial Center in Vietnam, including Da Nang city, this is not only an economic goal but also a manifestation of strong political determination, proactive integration, and cooperation with domestic and international partners to realize the country’s aspiration to rise in the new era,” affirmed Mr. Nguyen Van Quang, Secretary of the Da Nang Party Committee.
On August 15, the Ministry of Finance issued a draft decree for the establishment of the International Financial Center for public opinion, aiming to propose detailed regulations and guidance on the contents of Articles 8 and 9 of Resolution No. 222/2025/QH15 to ensure the smooth and effective operation of the Center, ensuring decentralization and devolution.
The formation of the International Financial Center aims to overcome many obstacles and shortcomings in the practical development of Vietnam’s financial market. Accordingly, Resolution No. 222/2025/QH15 has issued many policies, mechanisms, and special incentives to attract and meet the requirements of the international financial community.
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