Victory Securities explores Danang IFC

Representatives of Victory Securities company from Hong Kong, exchange a working visit to the Vietnam International Finance Centre in Danang City (VIFC-DN) in seeking investment opportunities in the centre. Photo courtesy of Danang City Portal

Danang – Victory Securities Company, formerly Victory Investment, established in Hong Kong in the early 1970s and specialising in stock brokerage services, paid a working visit to the Vietnam International Finance Centre in Danang City (VIFC-DN) to explore investment opportunities.

At a meeting with the city’s People’s Committee and the Executive Agency of VIFC-DN, Kennix Chan, a member of the executive board and general director of Victory Securities Company, said the firm plans to expand its presence in Asia and Southeast Asia, including Vietnam.

He noted that the meeting with city leaders and VIFC-DN provided an opportunity for the company to gain deeper insights into the centre.

Vice Chairman of the city’s People’s Committee Hồ Quang Bửu said Danang is actively calling for investment in key strategic industries and sectors, with finance — including the international financial centre — identified as a priority.

VIFC-DN, which was launched earlier this year, is planned to develop into multiple functional zones covering a total area of approximately 300 hectares.

To date, 20 memoranda of understanding have been signed with international financial institutions in areas such as training, consultancy, communications, investment promotion, marketing and product development.
 

The Vietnam International Finance Centre in Danang City (VIFC-DN) opens office at the Danang Software Park No 2. The finance centre has been calling investor in finance sector. VNS Photo Cong Thanh
 

The city has also granted membership certificates to 16 organisations and financial institutions, issued letters of interest to three commercial banks and an international holding group, and approved investment proposals worth US$1.5 billion since January.

Danang introduced 12 key organisations and financial institutions as members of VIFC-DN, including Makara Capital Vietnam Holding, Bybit Technology Vietnam, Danang Fintech Lab, Siglaw IFC, DTC Pay Vietnam, APEX Vietnam IFC Services, Valverde Investment Partners, Misa Novafinx and Remi Tech.

Major domestic financial institutions such as Vietcombank, VietinBank, Vikki Digital Bank and HDBank, along with corporations including Sovico Group, FPT Group, SBI Holdings Inc and AAA Private Aircraft Management Company, are also exploring investment opportunities at VIFC-DN.  

The city has established co-operation with partners, including Newtechco Group, Deutsche Bank Vietnam, United Overseas Bank, JPMorgan Chase, Terne Holdings, TMC Academy Singapore, Yuan Ze University in Taiwan, the Institute of Chartered Accountants in England and Wales, and the Vietnam Blockchain Association, to develop high-quality human resources for the centre.

VIFC-DN has set a target of attracting at least five financial technology (fintech) companies with annual revenues exceeding US$40 million, and at least two or three employing 1,000 staff by 2030.

To date, the centre has received 85 letters of interest from investors, while nine others are completing membership applications.

Last year, Danang signed a trilateral memorandum of understanding (MoU) on the development of the Danang International Financial Centre with Consessor AG, a Swiss strategic advisory firm, and VinaCapital Group.

The city also plans to host an Economic, Financial and Technology Forum this July, aimed at bringing together international financial institutions and high-tech investors. — VNS