VIFC Da Nang and Frankfurt Main Finance Strengthen Cooperation Toward Developing an International Financial Center

At the meeting, Mr. Hubertus Vaeth, the Managing Director of Frankfurt Main Finance expressed his strong impression of VIFC Da Nang’s strategic vision to develop into a financial hub capable of mobilizing and attracting international capital flows for the city and the country’s key development projects. He emphasized that the establishment of a modern international financial center in Da Nang City would play an important role in supporting the city’s sustainable growth and contributing to Vietnam’s national objective of achieving double-digit economic growth in the coming period.
 

Sharing international experience from Frankfurt, one of Europe’s leading financial centers, the Managing Director of FMF provided several recommendations to support VIFC Da Nang’s development. He highlighted the importance of ensuring close coordination and connectivity between the Free Trade Zone (FTZ) and VIFC Da Nang to create a strong and integrated ecosystem that enhances competitiveness and investment attractiveness. He also noted that Da Nang City should leverage its strategic coastal location and marine resources to develop specialized financial services supporting the marine economy. In addition, he recommended that VIFC Da Nang consider studying the development model of the Busan International Financial Center, which has successfully positioned itself as a specialized financial hub supporting maritime finance, asset management, and financial services linked to the marine economy. The Busan model demonstrates the importance of strong government support, clear strategic positioning, and the development of a comprehensive financial ecosystem to attract international financial institutions and investors.
 

On behalf of VIFC Da Nang, the Chairman of the Executive Agency, Mr. Ho Ky Minh expressed appreciation for the valuable insights and practical recommendations shared by Mr. Hubertus Vaeth. He affirmed VIFC Da Nang’s commitment to developing a modern, internationally connected financial center aligned with global standards. The Chairman also proposed that both sides continue to strengthen cooperation, promote knowledge exchange, and explore concrete collaboration opportunities in the coming period.
 

The meeting marked an important milestone in enhancing cooperation between VIFC Da Nang and Frankfurt Main Finance and reaffirmed the shared commitment to supporting Da Nang’s ambition to become an emerging international financial hub, contributing to the city’s development and Viet Nnam’s broader economic goals.

The discussions also contributed to advancing the implementation of the Memorandum of Understanding (MOU) signed between the People’s Committee of Da Nang City and Frankfurt Main Finance in September 2025. Both sides agreed to continue working closely to translate the MOU into concrete actions, including facilitating knowledge exchange, providing technical expertise, supporting capacity building, and promoting international connectivity to strengthen the institutional framework and operational readiness of the Viet Nam International Financial Center in Da Nang City./.