International Financial Center and the aspiration to participate in the global financial market

The International Financial Center in Da Nang symbolizes Vietnam's strong rise.

Considered a bold "declaration"

In early July 2025, the Terne Holdings Group and The One Destination Joint Stock Company signed a memorandum of understanding with Da Nang City to develop an International Financial Center in Da Nang. In addition to coordinating research, proposing specific policy mechanisms, developing an International Financial Center associated with green finance, financial technology and commercial finance, these two groups will support staff to learn experience and practice at major international financial centers in the world .

Terne Holdings and The One Destination also committed to the best implementation of licensed projects at the International Financial Center in Da Nang and the Da Nang Free Trade Zone... This is a specific step that Mr. Andy Khoo, General Director of Terne Holdings, committed to when sharing about the advantages of the International Financial Center in Da Nang.

Terne Holdings' leaders affirmed that with many advantages, the International Finance Center in Da Nang can contribute an additional 3-5 billion USD annually to Vietnam's GDP. According to Mr. Andy Khoo, with three strategic pillars of green finance, fintech innovation and trade finance, the International Finance Center in Da Nang will take advantage of opportunities and strengths. “The International Finance Center in Da Nang is not only a development project, but also considered a bold declaration of Vietnam's aspiration for the global financial market. Let me borrow the words of President Ho Chi Minh 'For the benefit of ten years, we must plant trees. For the benefit of a hundred years, we must cultivate people'. Together, we will not only create an International Finance Center, but also a sustainable legacy, symbolizing Vietnam's strong rise in the international financial market", Mr. Andy Khoo shared.

New economic space

Resolution No. 222/2025/QH15 of the National Assembly on the International Financial Center in Vietnam in Ho Chi Minh City and Da Nang City is a strategic step, creating an economic launch pad, bringing the country to participate in the global financial market. In the context of global capital flow shifts and strong digitalization trends, opportunities are wide open.

Therefore, both Ho Chi Minh City and Da Nang City are racing against time. While Ho Chi Minh City has prepared land funds, trained human resources, and cooperated with many partners, Da Nang City is not left out as it has prepared all favorable conditions, ready to soon form an International Financial Center in the near future.

Recently, Da Nang City established the Advisory Council for the construction of the Vietnam International Financial Center, gathering many experts, bank leaders, domestic and foreign enterprises to research, advise and propose strategies, development plans for the center; management model, organizational structure and operating mechanism. In addition, there are also preferential policies on finance, land fund; mechanisms to attract international experts and Vietnamese intellectuals abroad...

Regarding land fund, Da Nang will soon complete the investment in the construction of a 22-storey building at Software Park No. 2 with a construction floor area of over 27,000 m2 to immediately meet the operational needs of the Vietnam International Financial Center in Da Nang. In the period of 2025 - 2027, Da Nang City will promote attracting infrastructure investment and developing the International Financial Center ecosystem on clean land near the sea with an area of nearly 18 hectares to immediately build the International Financial Center. In particular, the core area of the International Financial Center has an area of 6.17 hectares, located on 5 "golden land" lots on Vo Van Kiet Street. The Financial Technology Center is located on the land northwest of the road leading to Thuan Phuoc Bridge in Hai Chau Ward (new) with a total area of 9.7 hectares, located near Software Park No. 2. In the long term until 2030, Da Nang will convert Da Nang Industrial Park into An Don Financial District with an area of 62 hectares. Not only that, Da Nang City is also implementing a project to reclaim the sea in Da Nang Bay, a project with a scale of nearly 1,500 hectares; with the characteristics of artificial islands, reclaiming the sea, creating about 48 km of new coastline...

To date, many large investors have expressed interest in the International Financial Center in Da Nang such as Makara Capital, Terne Holding, Trump Organization. Financial institutions and strategic investors are willing to invest tens of billions of USD in the form of PPP to build the Da Nang International Financial Center...

When the financial center is formed, the need for fast, low-cost, and highly secure transactions will promote the blockchain technology sector to become a strategic tool. This will not only help Da Nang affirm its position as a destination for digital finance, but also create an advantage for the City to become a regional blockchain center, leading the trend of financial innovation in the digital age.

Da Nang leaders affirmed the city's determination to soon form an International Financial Center to anticipate the development trend of the digital economy and international integration. The goal is not only to build a transaction center, but also a financial ecosystem, advanced technology, integrating services such as fintech, blockchain, digital payments and green finance.

Source: https://baodautu.vn/trung-tam-tai-chinh-quoc-te-va-khat-vong-tham-gia-thi-truong-tai-chinh-toan-cau-d374681.html