(VOVWORLD) - Da Nang is engaging with global partners to gain insights and expertise in the development of an international financial center, one of the central city’s strategic and breakthrough initiatives. Da Nang aims to expand international financial services and implement controlled testing mechanisms in financial technology (Fintech), closely linked to innovation.
 Da Nang has many advantages to develop an International Financial Center. (Illustration photo: VOV) |
During a recent working session with the Dubai International Financial Center (DIFC), Da Nang’s leadership outlined its vision and aspirations for collaboration with DIFC, one of the world’s most open and dynamic financial markets. Da Nang hopes to learn from its expertise—particularly in establishing specialized legal frameworks and managing digital currency exchanges.
Ho Ky Minh, Vice Chairman of the municipal People's Committee, said: "We are discussing with international partners to identify development directions for Da Nang’s International Financial Center. Our focus includes green finance, digital banking, and especially Fintech services and digital assets. These are areas where we aim to drive breakthrough growth for the city."
 A meeting between Da Nang city leaders and TheCityUK, UK on the International Financial Center model. (Photo: VOV) |
Earlier, Nguyen Van Quang, Secretary of the Da Nang Party Committee, worked with Raffles Family Office Singapore and KPMG Singapore to learn experience in building legal frameworks and operational models for the financial center. Warrick Cleine MBE, Chairman & CEO of KPMG Vietnam, said that the Da Nang International Financial Center will be a major catalyst for economic growth, particularly in expanding financial services. He said KPMG is thrilled to support this project, which holds great significance not only for Da Nang but also for Vietnam’s broader economic development and prosperity.
Throughout these engagements, global experts provided valuable recommendations, including applying English Common Law principles, offering tax incentives for key financial sectors, strengthening human resource training in financial management, enhancing intellectual property protection systems, and applying high-tech and AI to develop financial centers.