Da Nang Rolls Out the Red Carpet for Investors in Its International Financial Hub

Strategic Attraction, Early Core Competency Development

Immediately following its launch, the Vietnam International Financial Center in Da Nang City began promoting investment opportunities at the Da Nang Investment Promotion Conference on the afternoon of January 9th.

With its sandbox environment for testing new financial models and products, and its pioneering role in digital assets, digital payments, and specialized trading platforms, the Vietnam International Financial Center in Da Nang prioritizes attracting investment in infrastructure development; fintech and innovation, green finance and ESG finance; commodity markets, derivatives, and international trade finance; investment funds and asset management services.

Businesses investing in the Vietnam International Financial Center in Da Nang also benefit from various incentives, including: competitive tax breaks; relaxed foreign exchange and capital flow regulations; flexible capital raising mechanisms for startups; flexible labor and residency policies; a sandbox mechanism for new financial products and models; a dedicated legal framework for IFC, specialized courts, international arbitration, and strong enforceability.

Speaking with Tien Phong Newspaper, Mr. Dang Dinh Duc, Vice Chairman of the Vietnam International Financial Center in Da Nang’s Executive Board, stated that in the initial phase, the center will focus on attracting regional financial institutions, specialized investment funds, fintech organizations, digital asset and payment companies, and financial development organizations leveraging digital technology, innovation, and sustainable finance.

These investor groups align with the market size, openness level, and development direction of Da Nang City.

Furthermore, the center’s focus on specialized financial sectors will enable it to rapidly develop core competencies, build market confidence, and align its activities with the city and region’s specific economic and social development goals, particularly green transformation, innovation, and infrastructure development.

“Another key differentiator of the Vietnam International Financial Center in Da Nang is its integration with the Da Nang Free Trade Zone, creating a seamless ecosystem linking trade, logistics, manufacturing, and finance. This allows capital flows to not only circulate within the financial system but also directly support economic activities, import-export, and innovation investment,” Mr. Duc explained.

Global Financial Giants Enter the Fray

Recently, the Executive Board granted membership certificates to 12 domestic and international financial organizations and institutions, and letters of interest to 5 banks and 5 businesses/conglomerates.

Notable international financial players include Bybit, Makara Capital, APEX Group, Valverde Investment Partners, and dtcpay. Domestic heavyweights such as Vietcombank, Vietinbank, FPT Corporation, and Sovico Group are also among the members.

According to Mr. Ali Ijaz Ahmad, Chairman and CEO of Makara Capital (a leading Singaporean financial group), establishing a new international financial center is just the beginning. The greater challenge lies in operating this model to international standards, attracting global businesses and investors. This is a long-term endeavor requiring determination, consensus, and collaboration between the public and private sectors.