VIAC Delegation Meets and Works with Viet Nam International Financial Center in Da Nang City (VIFC-DN)

Attendees from the Viet Nam International Arbitration Centre (VIAC) included Prof. Dr. Le Hong Hanh – President of VIAC; Mr. Vu Anh Duong – Secretary General, Standing Vice President, along with specialized staff. Representing the Viet Nam Lawyers Association was Mr. Nguyen Khanh Ngoc – President of the Association. Representing VCCI was Mr. Nguyen Tien Quang, Director of VCCI – Central and Central Highlands Chapter. Representatives from the Viet Nam International Financial Center in Da Nang included Mr. Dang Dinh Duc – Standing Vice Chairman of the Executive Agency, and Mr. Oscar Njuguna – Head of the Membership Department, along with specialized staff from the financial center.

Overview of the Working Session

During the meeting, all parties agreed that in order to build an effective international financial center, attracting large capital flows must go hand-in-hand with perfecting a transparent and stable legal foundation. In this regard, the dispute resolution mechanism is considered a key factor, directly influencing investor confidence and the operational efficiency of the entire financial ecosystem.

Mr. Nguyen Khanh Ngoc, President of the Viet Nam Lawyers Association, emphasized that in the context of the Central region increasingly attracting investment projects, strengthening legal institutions, especially commercial arbitration, is a necessary requirement. He also noted that a stronger presence of organizations like VIAC in Da Nang would contribute to improving the investment environment, especially as the city is implementing specific mechanisms such as a free trade zone and an international financial center.
 

Mr. Nguyen Khanh Ngoc, President of the Viet Nam Lawyers Association at the working session
 

Representing the Viet Nam International Financial Center in Da Nang, Mr. Dang Dinh Duc, Standing Vice Chairman of the Executive Agency, stated that the financial center officially began operations at the beginning of 2026, with the goal of becoming a hub for attracting and leading international capital flows. To date, the unit has granted approval to 12 investors and continues to record interest from many domestic and international organizations. According to him, besides the target of attracting between 5 and 10 billion USD, the more important goal is to ensure the effective absorption capacity of capital into the economy.

One of the core topics discussed was the dispute resolution mechanism in investment activities. Prof. Dr. Le Hong Hanh, President of VIAC, argued that in international financial centers, dispute resolution is not the "final stage" but the "initial stage." When capital flows begin to operate, disputes are inevitable; without an effective handling mechanism, the entire system could be disrupted.
 

Prof. Dr. Le Hong Hanh, President of VIAC at the working session
 

From that perspective, VIAC proposed participating in the Viet Nam International Financial Center in Da Nang as an independent institution, providing dispute resolution services and risk prevention consultation from the very beginning. According to Prof. Dr. Le Hong Hanh, utilizing reputable, independent arbitration organizations will contribute to ensuring objectivity and transparency, while enhancing investor confidence. Additionally, VIAC emphasized the orientation of not only resolving disputes but also focusing on preventing disputes from arising – a crucial factor in legal risk management.

Alongside perfecting legal institutions, the Viet Nam International Financial Center in Da Nang is also oriented towards developing new financial models such as digital assets, supply chain finance, fund management, and asset tokenization, thereby expanding capabilities for capital mobilization and access to international investors. Furthermore, areas such as carbon credits and derivatives are being studied for implementation, linked to the development of a portfolio of internationally standardized projects.

According to the strategic orientation, the international financial center model in Viet Nam will be deployed in two locations: Ho Chi Minh City and Da Nang. Specifically, Ho Chi Minh City will continue to develop traditional financial sectors, while Da Nang will focus on innovation and testing new models.

Concluding the working session, all parties agreed to continue strengthening coordination, research, and proposal of solutions to perfect the legal ecosystem, with a special focus on building an independent and effective dispute resolution mechanism. This is considered an important foundation to ensure a transparent and stable investment environment, contributing to promoting the sustainable development of the International Financial Center in Da Nang in the coming time.