Da Nang aims to launch international financial center by 2030

The goal is detailed in Resolution No. 29, recently issued by the standing board of the municipal Party Committee.

The resolution underscores the need to mobilize resources from local authorities, the central government, and broader society, emphasizing that internal resources are decisive and long-term, while external ones play a breakthrough role.

Under Resolution No. 29, Da Nang is tasked with making full use of the preferential mechanisms and policies granted by the Politburo, the government, and the National Assembly to implement the financial center project effectively.

City leaders are expected to ensure that the international financial center is completed and operational by 2030, attracting strategic partners, financial institutions, support services, legal consultancies, and both domestic and international investors.

The future center is envisioned as a hub for innovation, green finance, and sustainable investment in the Asia-Pacific and beyond, with an emphasis on supporting small- and medium-sized enterprises, startups, digital payment systems, and technological innovation in finance.

It will feature specialized areas such as green finance, commercial finance for innovative enterprises and small- and medium-sized enterprises, services for non-resident organizations and individuals (such as offshore financial services), and cross-border trade activities linked to free trade zones, high-tech parks, and open economic zones.

Between 2025 and 2030, Da Nang plans to attract strategic investors and financial institutions at home and abroad to develop both hard and soft financial infrastructure. This includes integration with the Da Nang Free Trade Zone and major city projects such as urban railways and coastal development.

The resolution also calls for piloting regulated models involving digital assets, digital currencies, digital payments, and remittance services.

In addition, the city aims to attract investment funds, remittance flows, and small- to medium-sized fund management companies to boost the startup and innovation ecosystem.

Alongside Da Nang, Ho Chi Minh City – Vietnam’s southern economic powerhouse – is also preparing to establish an international financial center in the near future.