📋 Tender Overview
On November 15, 2024, the Politburo issued Notice No. 47-TB/TW on the construction of a regional and international financial center in Vietnam, thereby establishing a comprehensive international financial center in Ho Chi Minh City and a regional financial center in Da Nang City. On December 31, 2024, the Government also issued Resolution No. 259/NQ-CP approving the Action Plan for the construction of a regional and international financial center in Vietnam. According to the content of the announced resolution, the international and regional financial center will be built in Ho Chi Minh City and Da Nang City.
Regarding the scope of development of the Regional Financial Center in Da Nang, the City People's Committee proposed to implement a multi-component ecosystem in the core area including lots A12, A13, A14, A15 on Vo Van Kiet Street and lot A* adjacent to Vo Nguyen Giap and Vo Van Kiet Streets with an area of ??over 6 hectares, which can be expanded into a financial district, a geographical area located in Da Nang Industrial Park with an area of ??about 62 hectares; at the same time, develop a Financial Technology Center in the land northwest of the road leading to Thuan Phuoc Bridge with an area of ??9.7 hectares. The above areas are identified as core spaces, focusing resources on developing the Financial Center, which can be adjusted and expanded in each phase.
The People's Committee of Da Nang City said that the model and orientation for the development of the Financial Center in Da Nang will focus on developing international financial services and a controlled testing mechanism in the field of Fintech associated with innovation, which Resolution No. 136/2024/QH15 dated June 26, 2024 of the National Assembly has allowed for piloting, creating an important premise to promote the formation of a regional Financial Center in Da Nang.
The goal is to provide financial services to promote international investment, business and trade, including financial services aimed at effectively mobilizing international financial resources to serve the development of the Da Nang free trade zone, the National Innovation Center in Da Nang, and to build Da Nang into an investment - trade - financial gateway of the country and the region. The long-term goal is to develop Da Nang City into an international financial center and join the network of financial centers in Southeast Asia after 2045.
According to the People's Committee of Da Nang City, the Da Nang Financial Center model is a multi-component ecosystem including development centers focusing on 3 groups of services: International financial services such as payment services, international trade, risk management and foreign exchange transactions, green financial services; Fintech and TechFin services, providing software, application platforms to perform payment services, crypto asset transactions, innovative solutions in the financial sector based on artificial intelligence, big data, cloud computing, Blockchain...; investment support services, business development and utility services such as auditing, accounting, legal services, tax consulting, customs, resort services, conferences, high-end entertainment, leasing, real estate valuation and related assets...
To implement the construction of the financial center, up to now, Da Nang City has focused on implementing 2 groups of tasks and solutions, including: Implementing the Government's action plan including tasks of coordinating with the Ministry of Planning and Investment and central ministries and branches to advise the Government to issue a Decision to establish an inter-sectoral Steering Committee on the financial center; participating in the draft Decision to establish a Working Group on building the management and operation apparatus of the financial center; establishing a Steering Committee and a Working Group of the Da Nang City Party Committee on the construction and development of the Da Nang Financial Center.
The second is the group of tasks, solutions, and key activities in proactively coordinating the development of legal documents, draft Resolutions of the National Assembly on building regional and international financial centers in Vietnam, Decrees of the Government and Resolutions of the City People's Council; establishing and operating the financial center management apparatus; arranging and perfecting infrastructure conditions to support the formation and development of financial centers; focusing resources from the State budget and private resources to develop infrastructure serving financial centers; increasing investment in human resource development including in both the public and private sectors; researching and determining the jurisdictional mechanism in the financial center and organizing the implementation of the interim and final review of the Plan to ensure effective implementation.
In addition to developing the Implementation Plan, Da Nang City is researching, developing programs, communication plans, inviting strategic investors, financial institutions, investment funds, large corporations in the fields of technology, finance, domestic and international services to participate in investing and developing the Da Nang Financial Center; researching and developing projects, training programs, and linking with international training institutions in training human resources to serve the financial center.
Within the framework of the Workshop "Developing Regional and International Financial Centers in Vietnam" to be held on January 16, Da Nang City will consider promoting the signing of a number of memorandums of understanding on cooperation on a number of related contents such as: Researching and proposing specific and outstanding policy mechanisms; promoting and inviting investors, developing human resources... to serve the construction and development of the Da Nang Financial Center with a number of financial institutions, investment funds and related units.
