Da Nang eyes building a financial center with international competitiveness

Deputy Minister of Finance Nguyen Thi Bich Ngoc made the remarks at a plenary session of the Vietnam Financial Forum 2025 themed "Connecting Vietnam's International Financial Center with the Global Financial Network” held in the city on Thursday.

According to Deputy Minister Ngoc, Da Nang has a favourable geographical location of being located on the East-West Economic Corridor, and boasts a deep-water seaport and a modern international airport.

In particular, more than a quarter of global maritime trade passes through the city, highlighting its great potential to become a financial center for logistics, risk insurance and cross-border trade.

Ms. Ngoc unveiled that under the National Assembly-issued resolution, the Vietnam International Financial Center will be established under the model of "one center, two destinations" in both Ho Chi Minh City and Da Nang.

Accordingly, Ho Chi Minh City is set to serve as a comprehensive capital center with significant expansion in the stock market, bond issuance, banking, fund management, and listing services.

Meanwhile, Da Nang will concentrate on developing financial services related to logistics, maritime, free trade, and industrial and agricultural supply chains of the Central and Central Highlands regions.

A key point in the strategy for developing the International Financial Center in Da Nang is to closely connect with the Free Trade Zone.

To enhance the appeal of the International Financial Center in Da Nang, Ms. Ngoc stressed the need for the city to be positioned in the central region’s economic driving force cluster. This area is now home to many industrial and service hubs such as Chu Lai - Truong Hai Complex, Dung Quat Heavy Industrial Park, coastal economic zones, aquaculture centers, and export processing and manufacturing clusters.

In his closing speech, Deputy Secretary of the Da Nang Party Committee cum Chairman of the municipal People's Committee Luong Nguyen Minh Triet informed that the city has been proactively researching and coordinating with central ministries and branches to form a financial mechanism to recruit personnel from financial institutions in Europe, Singapore, Dubai, and the United States.

Moreover, the city plans to work with partners to invite prestigious universities and research institutes to establish branches in Da Nang with the aim of promoting training, enhancing capacity and promoting innovation.