Building legal framework for Vietnam International Financial Center

The international conference, jointly organized by the Ha Noi Law University, the Duy Tan University, and the University of Washington (the United States), brought together financial and legal experts, policymakers, and academics from Vietnam and abroad in both in-person and online formats.

The event featured three main sessions focusing on developing business laws and adopting international best practices to attract investment; judicial independence and dispute resolution mechanisms for international financial centers; and future policy directions for the Vietnam International Financial Center.

Presentations examined the development models of several leading financial centers across Asia.

Drawing on lessons from leading international financial centers, experts recommended that Vietnam selectively adapt only those elements best suited to its national context, rather than replicating foreign models wholesale.

They said this approach would help build a sustainable International Financial Centre capable of meeting rigorous global standards in judicial integration, dispute resolution, data governance and investor protection.

Experts also highlighted that the legal framework for the Vietnam International Financial Center in Da Nang should capitalize on the city’s comparative advantages and market demand.

Priority sectors include serving as a regional Mekong supply chain hub, developing financial data analytics and fostering non-deposit lending institutions.

In addition to the main sessions, speakers discussed long-term strategies for building the legal foundation of Vietnam’s International Financial Center.

Recommendations included reforms to financial legislation, stronger investor protection, particularly for minority shareholders, greater corporate transparency, updated data governance regulations, legal frameworks for digital assets, and streamlined procedures for business registration and licensing.