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DNO - The establishment of the International Financial Centre (IFC) in Vietnam was announced by Prime Minister Pham Minh Chinh at a conference in Ha Noi on Sunday.
The PM’s decision to establish and launch the IFC’s Steering Council, with Permanent Deputy Prime Minister Nguyen Hoa Binh serving as its chairman, was also informed at the event.
Under the decision, Chairman of the Da Nang People’s Committee Pham Duc An is appointed as one of the Vice Chairpersons of the Steering Council.
Also at the event, Permanent Deputy Prime Minister Nguyen Hoa Binh announced Decrees No. 323/2025/ND-CP, 324/2025/ND-CP, 325/2025/ND-CP and 326/2025/ND-CP, all dated December 18, 2025, which set out the legal framework governing Vietnam’s IFC.
Accordingly, the centre will operate in two locations: Da Nang and Ho Chi Minh City.
The operating regulations of the International Financial Centre are approved by the Steering Council and have unified legal effect, applicable consistently at both locations.
All standards, regulations, procedures, rules, operational forms and licensing criteria within the IFC are promulgated uniformly and applied simultaneously at both locations.
In addition, senior appointments to the IFC’s executive agencies in Da Nang and Ho Chi Minh City were unveiled.
In Da Nang, Standing Vice Chairman of the municipal People’s Committee Ho Ky Minh is appointed as Chairman of the Executive Agency of the IFC in the city.
Deputy Director of the Department of Finance Dang Dinh Duc is acted as Standing Vice Chairman of the Executive Agency of the IFC in the city.
Deputy Director of the Department of Science and Technology Le Son Phong serves as Vice Chairman of the Executive Agency of the IFC in the city.
Speaking at the conference, Chairman of the Da Nang People’s Committee Pham Duc An, on behalf of the city’s Party Committee, authorities and people, expressed his gratitude to the Politburo, the Secretariat, the National Assembly and the Government for selecting Da Nang, alongside Ho Chi Minh City, as one of the two locations for Vietnam’s IFC.
He emphasized that this was a major policy decision of strategic significance, making an important contribution to Da Nang’s breakthrough and sustainable development in the coming period.
The city has proactively prepared the necessary conditions to ensure the effective, reputable and sustainable operation of the IFC.
To date, it has received positive responses from nearly 70 letters of interest registering to become members of Vietnam’s IFC in the city. It has also signed more than 20 Memoranda of Understanding in the fields of training, consultancy, communications, connectivity and investment promotion, as well as product development.
He reaffirmed Da Nang’s commitment to ensuring a transparent and flexible legal framework in line with international standards, and to creating a safe, modern, friendly and high-potential working and living environment, in a bid to build, develop and position a modern, innovative, world-class and reliable international financial centre in the Asia - Pacific region.