Viet Nam International Financial Centre in Da Nang: Building a brand, elevating its standing

Building a brand, elevating its standing

At the beginning of 2026, Da Nang officially put the Viet Nam International Financial Centre in the city of Da Nang (VIFC-DN) into operation, marking a strategically significant milestone in the city’s development trajectory. This event represents a major step in concretising the policy of building Da Nang into a major socio-economic hub of Viet Nam and the region, with a spillover effect and a leading role in driving growth.

VIFC-DN is expected to become an important “launch pad”, creating new development space for the city, contributing to enhanced national competitiveness, and gradually affirming Viet Nam’s position within regional and international financial networks.

The Da Nang Municipal People’s Committee has recently submitted a document to the Ministry of Finance regarding the implementation of a strategy to develop the Viet Nam International Financial Centre in Da Nang.

Specifically, Da Nang has identified the need to clearly position VIFC-DN on the global map of financial centres as a destination for financial innovation and sustainable development. The city aims to gradually establish and consolidate a reputation for transparency, safety, and efficiency in Da Nang’s financial environment in the perception of the international investor community.

Da Nang will study and engage international consultants to develop a core brand identity for VIFC-DN, expressed through a logo, visual identity system, and slogan. The city will continue to step up international promotion of its high quality of life, safe living environment, distinctive cultural identity, and friendliness, consistently integrating these elements into promotional materials for VIFC-DN.

Efforts will focus on building a favourable and stable business environment in line with international standards. All business licensing procedures within VIFC-DN will be designed to be simple and rational, avoiding overlap. Each type of financial service will have a clear and publicly available set of procedural guidelines. The objective is to shorten the average licensing time for procedures conducted within VIFC-DN, achieving a reduction of 30–50 per cent compared with standard administrative processes.

Da Nang will proactively host international conferences and forums on finance, fintech, and green investment in the city, in coordination with central ministries and agencies. These include international conferences on sustainable finance and global fintech competitions. The city will also intensify promotion efforts to invite reputable international organisations such as the World Economic Forum and green finance councils to select Da Nang as a venue for major events.

At the same time, the city will strengthen the establishment of global strategic partnerships, with the signing memoranda of understanding (MOUs) between VIFC-DN and reputable financial centres or institutions. VIFC-DN will also seek early membership in global financial centre networks to facilitate exchanges and learning.

Data will be collected and engagement undertaken with organisations such as Z/Yen — the compiler of the Global Financial Centres Index (GFCI) — to ensure that VIFC-DN is included in global financial centre rankings at an early stage. By 2030, Da Nang aims to be listed in the GFCI among the leading emerging centres, gaining broad recognition from the global financial community.

Dang Dinh Duc, Permanent Vice Chairman of the VIFC-DN Executive Authority, said that in terms of vision, VIFC-DN aims to become a centre for experimentation and trading in digital finance, playing an important role within the Asia-Pacific network of financial centres, with a specialisation in asset digitisation and the provision of green finance solutions and next-generation supply chain finance.

The development objective of VIFC-DN is to become an international financial centre oriented towards innovation, green and sustainable finance, operating safely and efficiently, and playing a significant role in mobilising and allocating financial resources for socio-economic development and regional financial integration.

Da Nang has set the target that by 2030, VIFC-DN will achieve stable operations with more than 100 registered and recognised members; partial self-sufficiency in recurrent expenditure; the launch of three sandbox programmes; the issuance of its first green bond; and the establishment of formal cooperation with at least five other international financial centres worldwide.

Strong commitment from Da Nang

Le Ngoc Quang, Member of the Party Central Committee and Secretary of the Da Nang Municipal Party Committee, emphasised that within the country’s overall development strategy, Da Nang has been identified by the central authorities as a key growth engine for the Central and Central Highlands regions and a major growth pole for the nation.

This role was clearly defined in the Politburo’s Resolution No. 43 (dated January 24, 2019) and further concretised and elevated by Conclusion No. 79 (dated May 13, 2024), which opened a new phase of development with requirements for breakthroughs in institutions, enhanced leadership, and regional spillover effects. These reflect the Central authorities’ strong trust and high expectations for Da Nang as the country prepares for the 14th National Party Congress term.

On that basis, the National Assembly issued Resolution No. 136 (dated June 26, 2024), further refined by Resolution No. 259 (dated December 11, 2025), creating an important legal framework enabling Da Nang to be more proactive, autonomous and innovative in its development.

These are particularly significant milestones, creating favourable conditions for Da Nang to form and develop new models such as an international financial centre and a free trade zone, attract high-quality investment, promote innovation, and elevate the city’s standing within national and regional urban networks.

Ho Ky Minh, Permanent Vice Chairman of the Da Nang People’s Committee and Chairman of the VIFC-DN Executive Authority, affirmed that based on initial achievements and forthcoming requirements, the authority is committed to focusing on several key orientations and tasks.

“The VIFC-DN Executive Authority is committed to acting decisively and responsibly, directly overseeing the serious and effective implementation of plans and action programmes of the Central Government and the city related to the construction and development of VIFC-DN,” Ho Ky Minh said.

Da Nang remains steadfast in its goal of operating VIFC-DN in accordance with international standards, ensuring compliance with Vietnamese law, transparency, and systemic safety, while maintaining flexibility within the special mechanisms and policies authorised by the National Assembly and the government.

The city will build a streamlined, professional, and integrity-based management apparatus, with a focus on attracting high-quality human resources in finance, technology, and law. It will strengthen learning from international best practices in financial centre governance and foster a modern, efficient, and responsible working culture.

The VIFC-DN Executive Authority is committed to acting decisively and responsibly, directly overseeing the serious and effective implementation of plans and action programmes of the Central Government and the city related to the construction and development of VIFC-DN.

Ho Ky Minh,
Permanent Vice Chairman of the Da Nang People’s Committee and Chairman of the VIFC-DN Executive Authority

The VIFC-DN Executive Authority also commits to placing investors, financial institutions, and the market at the centre of its services, while proactively connecting and expanding international cooperation. It will actively engage with domestic and international financial institutions, investment funds, and advisory organisations to understand business needs, concerns, and areas of readiness for participation.

“The effectiveness of our work will be measured by processing time, compliance costs and investor satisfaction. This will help ensure that VIFC-DN operates in a stable and effective manner and gradually establishes its credibility in the period ahead,” Ho Ky Minh stressed.

With ample development potential, VIFC-DN has been identified as one of the key pillars driving momentum for Da Nang to maintain rapid and sustainable growth in the new phase. On the basis of an enabling institutional framework, modern infrastructure, and high-quality human resources, Da Nang reaffirms its determination to make a breakthrough and contribute substantively to the country’s goal of fast and sustainable development.

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