Viet Nam international financial center in Da Nang city makes its first appearance in the global financial centres index

A Milestone in Viet Nam’s Journey to Establish an International Financial Center

The Viet Nam International Financial Center in Da Nang City (VIFC-DN) has made its first appearance in the Global Financial Centres Index (GFCI). In GFCI 40, VIFC-DN ranked 71st among 117 financial centers ranked, out of a total of 139 financial centers assessed globally. In the same ranking, the Viet Nam International Financial Center in Ho Chi Minh City (VIFC-HCMC) ranked 67th.

The Global Financial Centres Index (GFCI) is a leading ranking of the competitiveness of global financial centers, published twice a year by Z/Yen Partners (London) and the China Development Institute (Shenzhen). It focuses on five key areas: business environment, human capital, infrastructure, financial sector development, and reputation. Published in 2026, GFCI 40 combines 144 quantitative factors with 39,531 assessments from 6,147 professionals in the financial and professional services sectors. The Index not only reflects the current position of financial centers but also assesses their development potential over the next two to three years.

The presence of Viet Nam’s two international financial centers on the global financial map is a notable development in the country’s implementation of its policy to establish an international financial center. For Da Nang, the 71st position among 117 ranked centers is not an end in itself, but first and foremost a milestone demonstrating that the preparations and initial steps taken by VIFC-DN have begun to gain recognition from the international financial community.

From Da Nang’s Foundations to a New-Generation Financial Center
VIFC-DN is oriented towards developing a new-generation international financial center, with a focus on financial technology, green finance, trade finance, the testing of new financial models, trading platforms and specialized exchanges, as well as the development of specialized financial products such as investment funds and asset management services. VIFC-DN aims to attract international capital to key sectors, including infrastructure, energy, technology, the green economy, trade and tourism.

This direction is aligned with the foundations that Da Nang has built over many years. The city has relatively well-developed external transport, information technology and telecommunications infrastructure; a data center system that is being expanded; extensive 5G coverage; and an ecosystem of technology, innovation and young talent. The city has also allocated clean land for the development of infrastructure for the International Financial Center, free trade zone and open economic zone, while gradually establishing a favorable international environment for working, living and connecting for international experts, investors and businesses.

More importantly, VIFC-DN is not being developed simply as a geographic concentration of financial activities. Da Nang’s objective is to establish an ecosystem in which the International Financial Center serves as an infrastructure connecting international capital with actual projects, businesses and investment opportunities in Da Nang, Central Viet Nam and Viet Nam as a whole. This is also why VIFC-DN has chosen to focus on a number of areas where it can develop distinctive strengths, rather than pursuing the scale of major financial centers in the region.

Proactively Preparing Human Resources and Products for International Markets
From its early stages, VIFC-DN has placed emphasis on developing operational capacity in line with international standards. The city has engaged three international experts with experience at major financial centers around the world, while strengthening cooperation with international organizations, experts and educational institutions to prepare human resources for VIFC-DN.

In parallel, the University of Da Nang, in cooperation with the School of Management and Economics of The Chinese University of Hong Kong, Shenzhen, has established the Fintech and Sustainable Finance Academy in Da Nang, creating an additional foundation for developing high-quality human resources for the long-term development of VIFC-DN.

In terms of financial products, VIFC-DN is preparing several initiatives aimed at establishing direct connections between financial markets and the real economy. Three flagship product initiatives currently under development include attracting asset management companies and investment funds to mobilize international capital for development investment; studying the establishment and piloting of a Commodity Exchange; and piloting a Voluntary Carbon Credit Exchange to support international transactions.

Alongside these initiatives, VIFC-DN is exploring further development in green finance, carbon markets, fintech, digital assets, tokenization, capital markets, infrastructure finance and supply chain finance. These are areas of growing interest among international financial centers and are expected to play an increasingly important role in the transformation of the global financial industry. GFCI 40 also highlights the continued prioritization by financial centers of investment in digital infrastructure, attraction of fintech and digital asset businesses, stronger measures to combat financial crime, and further development of capital markets.

Positive Signals from Growing International Market Interest
Another positive signal is the growing interest of financial institutions, development organizations, investment funds, technology companies and international experts in VIFC-DN.

At the initial stage, discussions primarily focused on policies, mechanisms and the investment environment. More recently, however, a number of partners have begun engaging in deeper discussions on cooperation models, financial products and the potential implementation of specific projects in Da Nang, ranging from major infrastructure projects to large-scale private-sector investment projects. This represents an important transition, as a financial center can only truly take shape when market interest gradually translates into actual business activities, capital flows, financial products and concrete projects.

For Da Nang, this provides a foundation for further expanding international connections while directly incorporating market experience, demand and standards into the continued development of the VIFC-DN model.

A New Milestone, A New Chapter
The 71st position among 117 ranked centers in GFCI 40 is a notable achievement, but more importantly, it is a positive signal for the journey ahead.

An international financial center is a long-term undertaking. It cannot be established solely through an administrative decision or a physical infrastructure complex; rather, it must be built over time through an appropriate institutional framework, high-quality human resources, competitive products, market confidence and the ability to connect with international capital flows. Accordingly, there remains substantial work ahead following this milestone.

VIFC-DN will continue to work together with VIFC-HCMC to refine the procedures, regulations and operational mechanisms of Viet Nam’s International Financial Center; proactively propose necessary mechanisms and policies; attract reputable financial institutions, fund management companies, investment funds, banks and technology enterprises; and focus on implementing priority products, gradually developing markets and establishing substantive financial activities in Da Nang. Da Nang’s approach is to take one step at a time, deliver tangible results and gradually build market confidence.

The city’s objective is not simply to establish a financial center in order to have a name on the map. The goal is to develop a center with substantive activities and the capacity to connect international capital with investment opportunities in Viet Nam, create additional channels for mobilizing capital for development, and progressively integrate more deeply into the regional and international financial network. VIFC-DN’s first appearance in GFCI 40 therefore represents a milestone in this journey, while also providing impetus to move forward more quickly and steadily in the next stages.

Da Nang will continue to leverage its existing advantages, focus on strengthening the institutional framework, developing human resources, preparing infrastructure, attracting financial institutions and promoting new financial products, while proactively connecting with financial centers, international organizations and the global business community.

With the direction and support of the central government and ministries and sectors, together with the partnership of financial institutions, international organizations, businesses and experts at home and abroad, Da Nang is confident that the preparations being undertaken today will lay the foundation for a modern, innovative and trusted International Financial Center in Viet Nam, with the capacity to connect Viet Nam with the world’s capital flows, technologies and financial innovations.