On the afternoon of January 9th, the inauguration ceremony of the Vietnam International Financial Center in Da Nang City took place at the Software Park No. 2, Hai Chau District, Da Nang City.
Transparency, Safety, Flexibility
According to Government Decree 323, the Vietnam International Financial Center in Da Nang City is oriented towards modern development, closely linked with the innovation ecosystem, digital technology, and sustainable finance. It aims to create a controlled testing ground for new financial models, pioneering the deployment and expansion of digital asset products, digital payments, specialized trading platforms, and exchanges.
The Vietnam International Financial Center in Da Nang City officially inaugurated. Photo: Giang Thanh.
According to Mr. Ho Ky Minh, Vice Chairman of Da Nang City People’s Committee and Chairman of the Management Board of the Vietnam International Financial Center in Da Nang City, despite being newly established, the management board has swiftly completed its organizational structure, issued foundational regulations on functions, tasks, and working procedures. It has also quickly attracted highly qualified and experienced personnel.
Moving forward, the management board is committed to operating the International Financial Center in Da Nang City in accordance with international standards, ensuring compliance with Vietnamese laws, transparency, safety, and flexibility within the framework of special mechanisms and policies approved by the National Assembly and the Government.
The Management Board of the International Financial Center in Da Nang City, led by Ho Ky Minh, pledges transparent and secure operations.
“Additionally, we aim to build a lean and professional management apparatus, focusing on investors, financial institutions, and the market. We will continue to refine the one-stop-shop mechanism, reduce processing times, proactively connect and expand international cooperation, and closely coordinate with ministries, sectors, and the city in promoting financial investment aligned with socio-economic development goals. We will also establish regular working mechanisms with relevant agencies to propose improvements to mechanisms and policies for the Central Government,” said Mr. Minh.
“One Center, Two Destinations”
Speaking at the inauguration ceremony, Deputy Prime Minister Nguyen Hoa Binh, Chairman of the National Steering Committee for the International Financial Center in Vietnam, highly appreciated the proactive spirit of the Da Nang City People’s Committee in concretizing the Central Government’s policy, preparing infrastructure, organizational structure, and necessary conditions for the official operation of the International Financial Center in Da Nang City.
Within the strategic vision of “one center, two destinations,” Da Nang holds a particularly important role with its geo-economic advantage as a gateway to the sea, modern digital infrastructure, and a dynamic, open government.
Deputy Prime Minister Nguyen Hoa Binh calls for creating a superior competitive advantage to attract “eagles” to the International Financial Center in Da Nang.
According to the Deputy Prime Minister, to transform potential into strength and resources for development, a completely new mindset and decisive actions are required. The mindset must shift from a begging approach to a co-creative partnership. Management thinking should not be rigid; it must be regularly reviewed, updated, and amended to ensure the legal framework becomes increasingly refined and attractive. The goal is to create a superior competitive advantage and attract strategic investors, the “big eagles,” to establish their presence.
The Deputy Prime Minister also requested Da Nang City to closely coordinate with Ho Chi Minh City to finalize the joint operating mechanism by the end of January at the latest, ensuring mutual support between the two destinations.
Da Nang must develop hard infrastructure, prepare clean land funds, and create world-class workspaces. Soft infrastructure, such as human resources, data, and transmission lines, must be one step ahead. Additionally, there is an urgent need to streamline the management apparatus, making it professional, efficient, and build a team of officials with international thinking, financial knowledge, language proficiency, and a clear sense of public service ethics to effectively operate the financial center at a global level.
Deputy Prime Minister Nguyen Hoa Binh visits the headquarters of the International Financial Center in Da Nang City.
The Deputy Prime Minister expressed his hope that investors would participate more deeply and long-term, directly collaborating with the Central Steering Committee to develop a long-term strategy for the International Financial Center in Vietnam in general and Da Nang in particular.
“Furthermore, investors and businesses play a role in policy critique, reviewing inconsistencies in mechanisms and policies for amendments. The recommendations from businesses are key to jointly perfecting an attractive, open, and internationally competitive investment environment for the Vietnam International Financial Center,” said Deputy Prime Minister Nguyen Hoa Binh.
At the inauguration ceremony, the Electronic Information Portal of the Vietnam International Financial Center in Da Nang City was officially launched.
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