International Financial Centre in Da Nang: An “Open Gateway” for New Financial Models

The event represents a major milestone in the national financial system development strategy, while opening up new growth space for Da Nang at a time when Viet Nam is entering a new development phase with higher requirements for growth, integration, and innovation.

Beyond being a financial centre in the traditional sense, the International Financial Centre in Da Nang is expected to serve as an “open gateway” for new financial models—a convergence point for international capital flows, modern governance expertise, and high-quality financial professionals—thereby helping Viet Nam move closer to its goal of becoming a dynamic financial destination in the region and globally.
 

Da Nang Software Park No. 2, where the Executive Agency of the International Financial Centre in Da Nang is headquartered – Photo: VGP/Nhat Anh.

Pioneering the Deployment and Expansion of Digital Assets, Digital Currency, and Digital Payments

According to the Executive Agency of the International Financial Centre in Da Nang, the Viet Nam International Financial Center in Da Nang City (VIFC-DN) was established and operates pursuant to Government Decree No. 323. This marks the first time Viet Nam has implemented an international financial centre model under a new regulatory framework, featuring a dedicated legal regime, special mechanisms, and modern governance, creating a foundation for the controlled piloting of advanced financial models.

Under the orientation set out in Decree No. 323, the International Financial Centre in Da Nang is being developed as a modern, multi-functional financial centre, closely integrated with the innovation ecosystem, digital technologies, and sustainable finance. The Centre is not only a hub for traditional financial institutions but also a testing ground and deployment space for new financial models and innovative financial products.

A key highlight of this model is its pioneering role in piloting and expanding digital asset products, digital currencies, digital payment solutions, and specialised trading platforms and exchanges, all within a controlled sandbox framework.

In parallel, the Centre promotes supply chain finance, third-party financial services, and non-deposit-taking lending institutions, complementing and interacting with the traditional financial market. This approach enables the creation of specialised, flexible financial products aligned with the needs of the digital economy and global financial trends.

300-Hectare Master Plan for the Development of Functional Zones

The Viet Nam International Financial Centre in Da Nang is planned over a total area of approximately 300 hectares, meeting the core criteria of a modern financial centre: rapid connectivity to the international airport and seaport, strategic transport corridors, synchronised digital and IT infrastructure, and high-quality urban space conducive to attracting financial institutions, investors, and experts from Viet Nam and abroad for long-term residence and work.

Specifically, the Centre will be developed across multiple functional zones, including: a 6.17-hectare site in An Hai Ward; a 20-storey building at Da Nang Software Park No. 2 in Hai Chau District; land in the north-western area of the access road to Thuan Phuoc Bridge; the corner of Nhu Nguyet – Xuan Dieu streets; and notably, an approximately 282-hectare coastal land reclamation area opposite Nguyen Tat Thanh Street. This spatial arrangement allows the Centre to expand flexibly by phase while ensuring long-term growth capacity.

As early as 2025, the Da Nang City People’s Committee completed several key infrastructure components to support the Centre’s operations. The headquarters of the Executive Agency at Da Nang Software Park No. 2 has been put into use, providing more than 4,000 square metres of working space for members, fully equipped with high-speed internet, data systems, servers, and information security infrastructure.

At the same time, the city has completed 5G network coverage across areas designated for the International Financial Centre, laying the groundwork for digital finance, electronic transactions, and smart governance. By the second quarter of 2026, a 20-storey information technology building with a total floor area of over 27,000 square metres, along with integrated storage, monitoring, and smart operations systems, is expected to be completed. This facility is envisioned as a core magnet for investment funds, technology firms, startups, innovation initiatives, and new financial pilot models.
 

Da Nang plans to develop an approximately 282-hectare coastal reclamation area opposite Nguyen Tat Thanh Street to host functional zones of the International Financial Centre – Photo: VGP/Nhat Anh.

International-Standard Governance with a Market-Centric Approach

The Viet Nam International Financial Center in Da Nang City (VIFC-DN) is directly managed and operated by the Executive Agency of the VIFC-DN, chaired by Ho Ky Minh, Standing Vice Chairman of the Da Nang City People’s Committee. Immediately after its establishment, the Executive Agency rapidly completed its organisational structure and issued foundational regulations on functions, mandates, working rules, and recruitment plans under policies to attract high-quality human resources.

Notably, the Executive Agency has signed a contract with a foreign expert who previously served as Chief Executive Officer of an international financial centre to assume the position of Director of the Membership Division, clearly demonstrating the Centre’s commitment to international governance standards.

In parallel, the Electronic Information Portal of the Viet Nam International Financial Centre in Da Nang has been launched to integrate one-stop services, including membership registration and licensing, work permit and visa processing, and other support services. The system is also designed to interconnect with state agencies for enterprise verification, compliance with anti–money laundering (AML) and counter-terrorist financing (CTF) regulations, tax obligations, and labour registration and licensing—ensuring maximum compliance and transparency.

Based on the promulgated legal framework, the Executive Agency has issued procedures for membership registration and recognition, as well as licensing for the establishment and operation of commercial banks and foreign bank branches. At the conference announcing National Assembly Resolution No. 259/2025/QH15, the Centre granted official membership certificates to 12 organisations and financial institutions, and issued letters of approval in principle to numerous organisations, commercial banks, and international financial groups.

Standing Vice Chairman Ho Ky Minh stressed that the establishment of the Viet Nam International Financial Centre reflects the strong determination of the Party and the State amid deepening international integration and the need to mobilise substantial capital to achieve double-digit economic growth targets in the coming years. For Da Nang, this represents a historic opportunity to achieve an economic breakthrough and elevate its position on the regional financial map.

Looking ahead, the Executive Agency is committed to steadfastly operating the Centre in line with international standards; building a lean, professional governance apparatus; placing investors and the market at the centre of service delivery; expanding international cooperation; developing a financial ecosystem closely linked with innovation, digital transformation, and the private sector; and establishing robust supervision and risk management mechanisms to safeguard national financial and monetary security.

“It can be affirmed that the establishment and gradual operation of the Viet Nam International Financial Centre in Da Nang is a major, complex, and unprecedented policy decision. However, with a systematic approach, a clear roadmap, and strong political determination, the Centre is expected to become a new growth engine, contributing to Da Nang’s breakthrough and sustainable development, while gradually reinforcing Viet Nam’s credibility on the international financial map,” Ho Ky Minh stated.