Vietnam inaugurates International Financial Center facility in Da Nang

The inauguration ceremony was hosted by the Da Nang administration at Software Park No. 2 and attended by Permanent Deputy Prime Minister Nguyen Hoa Binh, along with the city’s leaders and senior government officials.

According to the Ministry of Finance, Vietnam is developing its first international financial center under a ‘one center, two destinations’ model, with core facilities in Ho Chi Minh City and Da Nang, reflecting its ambition to establish a modern, multi-nodal financial hub aligned with international standards.

Ho Ky Minh, standing deputy chairman of the Da Nang People’s Committee and chairman of the Da Nang IFC’s executive agency, said the facility will be developed into multiple functional zones covering about 300 hectares across Hai An and An Hai Wards.

The site offers convenient access to Da Nang International Airport, seaports, and major transport corridors, supported by digital and information technology infrastructure suited to a modern financial center.

The headquarters of the Da Nang IFC, located at Software Park No. 2, provides more than 4,000 square meters of office space and is fully equipped with data systems, servers, and high-speed Internet connectivity.

The city has also completed 5G network coverage in areas designated for the international financial center.

Da Nang is currently finalizing the construction of a 20-story building at Software Park No. 2, together with smart monitoring, storage, and operational infrastructure, with a total floor area exceeding 27,000 square meters.

The complex, expected to be completed in the second quarter of this year, is designed to house the Da Nang IFC’s operations and attract investment funds, technology firms, startups, and innovation activities.

It will also serve as a pilot site for new models such as digital assets, cryptocurrencies, and digital payments under sandbox mechanisms, Minh said.

According to the Vietnam News Agency, the Da Nang IFC will further promote supply chain financing, third-party financial services, and non-deposit-taking lending institutions, complementing the traditional financial market and fostering flexible, specialized financial products.

The official website of the facility was also launched at the event.

The executive agency of the Da Nang IFC has completed its organizational structure, recruited a foreign expert to head its membership division, and issued interim guidelines on the registration and recognition of members, the Voice of Vietnam reported.

From 2026, the authority will work with relevant ministries and agencies to develop special policy mechanisms, while establishing inspection, supervision, and risk management frameworks to safeguard national financial and monetary security.

Addressing the ceremony, Deputy PM Binh called on Da Nang to coordinate closely with Ho Chi Minh City to finalize a unified operating framework, ensuring that the two IFC facilities complement rather than compete with each other.

He also stressed the need for Da Nang to build a professional workforce with an international outlook, strong foreign language skills, solid expertise, and high ethical standards.

For investors and businesses, the deputy PM encouraged deeper engagement in shaping the long-term development strategy of Vietnam’s IFC and closer cooperation with authorities in designing and approving new financial products.

He urged licensed investors to proceed with setting up operations, recruiting personnel, and connecting data systems at the Da Nang IFC, adding that any difficulties should be reported directly to the IFC’s Executive Council, which he heads, for prompt resolution.