(VOVWORLD) - The Ministry of Planning and Investment is collecting opinions on the proposal to pilot an International Financial Center in Da Nang city which is part of the draft on building an urban government model and specific mechanisms for the central city.
 A view of Da Nang city (Photo: VOV.VN) |
Da Nang has several advantages to set up an International Financial Center thanks to its favorable geographical location, its urban infrastructure, the quality of its living environment, and its high-quality human resources.
The pilot establishment of an International Financial Center in Da Nang aligns with the Politburo Resolution on Da Nang’s development until 2030 and Vision to 2045.
Nguyen Van Thao, Vietnamese Ambassador to Belgium and Luxembourg and Permanent Representative to the EU, said: “The EU has abundant financial resources. In 2023, Vietnam and Luxembourg, an EU member, established a strategic partnership on green finance. Based on their strategic partnership, if the cooperation between Da Nang and the EU and Luxembourg is promoted, Da Nang can surely become a regional financial center.”
 Da Nang is an attractive investment destination for foreign investors. (Photo: VOV.VN) |
In order to become an international financial center and join the network of regional financial centers after 2045, Da Nang reserves six hectare to build a complex with good connections and infrastructure. The Da Nang People’s Committee created a roadmap under which during the 2024-2030 period, the city will complete its infrastructure to welcome international financial institutions and investors. After 2030, the city will provide financial services in Vietnam and some countries in the Asia-Pacific region and become a regional financial center and national fintech center by 2045.
Ho Ky Minh, Vice Chairman of the Da Nang People’s Committee, said: “It takes at least 5 years to build and make an International Financial Center operational. In order to have an appropriate model and effective operation, it’s necessary to study it from different angles and adopt prompt policies and mechanisms.”
Da Nang proposes 11 special mechanisms for the International Financial Center, including exclusive policies on tax, open management, and high competitiveness in connection with other domestic financial centers.