Da Nang works to attract new capital flows to International Financial Centre

In his opening remarks, Dr. Nguyen Duc Hien, Deputy Head of the Central Policy and Strategy Committee, stated that the National Assembly of Vietnam has approved the target of double-digit gross domestic product (GDP) growth for the 2026 - 2030 period.

He noted that this was an ambitious goal amid continuing uncertainties in the global economy and would require substantial resource mobilization to support economic expansion.

In the context of increasingly limited room for traditional capital mobilization channels, the establishment of an International Financial Center is considered a crucial solution to create new capital channels for the economy.

According to Dr. Nguyen Duc Hien, Vietnam needs to take bolder steps in developing legal frameworks for new financial assets and services if the International Financial Centre is to compete effectively with regional financial hubs.

Speaking at the event, Vice Chairman of the Da Nang People's Committee Tran Chi Cuong informed that Da Nang is pursuing a development strategy aimed at becoming a modern financial center.

The city, therefore, seeks to attract indirect investment flows and international investment funds, diversify institutional investor types, develop international carbon credit trading, promote the tokenisation of real-world assets and introduce modern financial products and services in line with international practices.

These efforts aim to unlock and diversify capital channels for the economy as well as enable the early implementation of pilot projects under controlled regulatory sandbox mechanisms to test and refine risk management frameworks during the initial stages.

At the same time, Da Nang’s top priority is to facilitate the flow of international capital through the Vietnam International Financial Centre in the city into the broader economy, supporting infrastructure development projects and large-scale investments in both the public and private sectors.

In the coming period, the municipal authorities wished to strengthen connectivity, dialogue and cooperation among regulators, investors and financial institutions to support the development of the Vietnam International Financial Centre in Da Nang, Vice Chairman Cuong noted.

He added that the city hoped to receive valuable advice and feedback from experts, scientists, financial institutions, and the business community to shape and develop the key products of the International Finance Center in Da Nang.

Participants at the seminar focused discussions on key issues related to the development of the International Financial Centre in Da Nang.

Included were the institutional design of the center, specialized financial products, and the creation of a fintech ecosystem encompassing blockchain technology, digital assets, wealth management, trade finance, carbon credits and high-quality human resource development.

Through presentations and in-depth discussions, delegates proposed a range of practical policy recommendations aimed at improving institutional frameworks and enhancing the attractiveness of the Vietnam International Financial Centre in Da Nang to international investors.