Da Nang commits to always standing alongside investors in developing an international financial centre

On the morning of 30 September (local time), in Frankfurt, Federal Republic of Germany, Standing Deputy Prime Minister Nguyen Hoa Binh attended the Investment Promotion Conference for Viet Nam’s International Financial Centre, co-organised by the Ministry of Finance, the Embassy of Viet Nam in Germany, the Consulate General of Viet Nam in Frankfurt and the Da Nang Municipal People’s Committee.

Accompanying Standing Deputy Prime Minister Nguyen Hoa Binh at the Conference, Chairman of the Da Nang Municipal People’s Committee Pham Duc An delivered a speech sharing Da Nang’s opportunities, potential, level of preparedness and commitment to partnering with investors in building and developing an international financial centre.

A uniquely strategic geo-economic location

Da Nang holds a uniquely strategic geo-economic position, located in the central region of Viet Nam, serving as a crucial gateway from the East–West Economic Corridor to the East Sea. It lies close to major trade routes linked to the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), providing favourable conditions for Da Nang to participate deeply in global supply chains.

Chairman Pham Duc An noted that, following the expansion of its administrative boundaries to include the former Quang Nam province, Da Nang has become the largest centrally governed city in terms of natural area, with nearly 12,000 km² and a population of more than 3 million people. This is a major advantage, both creating room for socio-economic development and generating significant demand for resources to invest in infrastructure and urban rail systems to enhance connectivity, expand urban space and consolidate the foundation for the future development of the financial centre.

The city also possesses synchronised transport and international connectivity infrastructure. Da Nang International Airport, located right in the city centre, is rated 5 stars by Skytrax and currently handles nearly 270 flights (arrivals and departures) per day, including more than 100 international flights.

In the not-too-distant future, Da Nang will upgrade Chu Lai International Airport, with an area of 2,000 hectares, into one of the three largest airports in Viet Nam, planned to meet 4F standards and handle 30 million passengers and 3 million tonnes of cargo per year by 2050. This will go hand-in-hand with the development of the largest container seaport in Central Viet Nam, comprising three major terminals, including Lien Chieu Port, which is in the process of investor selection through international bidding to develop it into an international transshipment port.

Da Nang is also a renowned tourism and resort destination. The city boasts 57 tourist sites and attractions; three UNESCO-recognised World Heritage Sites (Hoi An Ancient Town, My Son Sanctuary and the Ngu Hanh Son stone inscriptions); the Cu Lao Cham Biosphere Reserve; and over 215 km of coastline with numerous scenic bays and beaches. In just the first eight months of 2025, the city welcomed more than 12.8 million overnight visitors, including over 5 million international guests (equivalent to 36% of total international arrivals to Viet Nam in the same period), generating nearly 1.5 billion USD in tourism revenue.

Moreover, Da Nang is known as one of Viet Nam’s centres of innovation. Building on its existing foundation, the city is focusing on investment and development to become a hub for testing and developing new technologies, from the Internet of Things to artificial intelligence and blockchain.

Da Nang is also the first city in Viet Nam to establish a free trade zone, alongside a network of concentrated IT parks, an open economic zone, a high-tech park, industrial zones and high-end accommodation facilities – together forming a rich ecosystem that enables Da Nang to shoulder the mission of building a substantive and long-term international financial centre.
 

An international financial centre built on three core pillars

According to Chairman Pham Duc An, the International Financial Centre of Viet Nam in Da Nang will be developed on two main pillars: green and commercial finance; and financial technology (FinTech) and digital assets.

Da Nang aims to become a “laboratory” for new financial models – from digital assets, digital currencies and digital payments to solutions applying blockchain and artificial intelligence – accompanied by a strong development of fund management activities to support FinTech startups.

In parallel, the city will encourage green finance products and initiatives to support the national goal of net-zero emissions and international sustainable development ambitions, leveraging its potential in renewable energy and sustainable tourism.

Da Nang will also prioritise the development of cross-border trade finance linked to seaports, logistics and international tourism, together with offshore financial services for foreign-invested enterprises (FDI) and global investors. Particular attention will be given to creating a favourable financial environment for small and medium-sized enterprises and innovative startups, thereby shaping a diverse, dynamic and creative financial ecosystem rooted in core values such as sustainability, smart solutions, digitalisation, innovation, inclusiveness and customer centricity, ultimately helping improve quality of life.

To realise this vision, immediately after the decision to develop Viet Nam’s International Financial Centre in Da Nang, and in parallel with consultations and coordination with central ministries and agencies to refine the legal framework, the city swiftly began investing in infrastructure, human resources and quality-of-life improvements to lay the groundwork for an international financial centre ecosystem.

Specifically, Da Nang has allocated over 300 hectares of land right in the city centre, within a 5–10 km radius of Da Nang International Airport. This includes plans to build a 282-hectare offshore financial district on reclaimed land in Da Nang Bay, linking the financial centre with free trade and resort tourism zones to ensure international-standard working and living spaces. In addition, a 20-storey building with more than 27,000 m² of floor space in Software Park No. 2 is ready to serve as the initial headquarters of the International Financial Centre.

 

Chairman of the Da Nang Municipal People’s Committee Pham Duc An and CEO of Frankfurt Finance, Hubertus Väth, sign a memorandum of understanding on cooperation in developing the international financial centre – Photo: VGP/Nguyen Hoang.
 

At the same time, the city is focusing on developing international-standard education and specialised healthcare systems, including international schools and hospitals meeting JCI standards. With air quality and pollution (AQI) consistently maintained at “Good” levels, Da Nang is working to build a holistic “work – leisure – creativity” ecosystem for experts, investors and digital nomads, maintaining a safe, clean and transparent living environment that underpins its long-established reputation as a “livable city”. This will be a key competitive advantage in attracting and retaining talent as well as global corporations.

The city is also developing seven data centres; has rolled out 5G coverage with the highest average speeds in Viet Nam; and is preparing procedures to invest in a second submarine cable landing station, thereby enhancing Viet Nam’s international connectivity.

Recognising people as the decisive factor, Da Nang has selected highly qualified officials – including PhDs, associate professors, financial experts and judges with international training – to participate in internships and advanced training programmes at major financial centres.

In parallel, local training institutions have developed long-term curricula in international finance, FinTech and international commercial law, designed as bilingual programmes and integrated with international professional certifications to supply high-quality human resources directly serving the financial centre.

To ensure substantive preparations, the city has established a preparatory board and a supporting task force, set up an advisory council, and begun trial operations of the International Financial Centre management authority. It has also developed one-stop administrative procedures and compiled an investment handbook drawing on international experience, so as to be ready for practical implementation once Viet Nam’s International Financial Centre is officially established.

Notably, Da Nang has signed nearly 20 cooperation agreements with global financial and technology institutions, including Abu Dhabi Global Market, Binance, Bybit, Tether, DTCpay, APEX Group and the Swiss FinTech Association. These partnerships focus on sharing experience in management and operations, human resource training, and connecting and introducing investors, financial institutions and investment funds to Viet Nam’s International Financial Centre in Da Nang.

“With all that Da Nang has prepared and is actively implementing, together with the strong determination and close direction of the Government and central ministries and agencies, as well as the sharing of experience and technical assistance from leading international financial centres and global financial and technology institutions, we are confident that Da Nang’s International Financial Centre will soon come into operation. The city of Da Nang is committed to accompanying investors throughout the entire process – from concept to implementation; ensuring a transparent, flexible legal framework aligned with international standards; and creating a safe, modern, friendly and opportunity-rich working and living environment in order to build and develop a modern, innovative and trusted international financial centre in the Asia–Pacific region,” Chairman of the Da Nang Municipal People’s Committee Pham Duc An stated.

At the Conference, in the presence of Standing Deputy Prime Minister Nguyen Hoa Binh and other delegates, Chairman of the Da Nang Municipal People’s Committee Pham Duc An and CEO of Frankfurt Finance, Hubertus Väth, signed a Memorandum of Understanding on cooperation in developing the international financial centre.