Investment Incentive Policies
Viet Nam International Financial Center in Da Nang City (VIFC-DN) focuses on developing a dynamic ecosystem that drives financial and technological innovation in Vietnam. The core of VIFC-DN is the Digital Transformation Hub, encouraging businesses and organizations to adopt advanced technologies for smarter operations and enhanced competitiveness. The hub also actively promotes Innovation, creating a collaborative environment for startups and enterprises to explore new ideas and drive growth.
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- The VIFC Da Nang Executive Agency grants licenses for the establishment and operation of banks and foreign bank branches at VIFC Da Nang. Licensing time: 60 days.
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- Expanding the jurisdiction of the Arbitration Council; allowing international arbitration centers to have jurisdiction to resolve all disputes by agreement of the parties related to investment and business contracts, except for certain specific cases concerning administrative decisions, labor, personal rights, and issues already resolved by judgments or decisions of competent authorities.
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- Allows trading of a diverse range of commodity groups in accordance with international practices, including agriculture, energy, industrial raw materials, metals (excluding gold), carbon credits, and certain cultural and artistic products in the form of digital assets (NFTs).
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- Priority selection as the investor for important investment projects to develop infrastructure and support services for the IFC.
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Tax Policies: Corporate Income Tax, Personal income tax, Import tax; Accounting policies; Capital market development and sandbox mechanism; Policy for strategic investors
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- Key investors will receive preferential treatment in visa issuance, temporary residence permits, and permanent residence registration with criteria aimed at facilitating the entry of foreigners.
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- Employers are allowed to recruit foreign workers according to job needs without limitations on the percentage of foreign workers; No need to report on the need to use foreign labor and no need to announce the recruitment of Vietnamese workers for positions intended for foreign workers.
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The People’s Committee of Da Nang City decides on land allocation, land leasing, permission for land use conversion, extension and adjustment of land use duration for investment projects of VIFC Da Nang members. The Land Management Agency of Da Nang City issues the first Certificate of Land Use Rights and Ownership of Assets Attached to Land to Members.
