Over 40 organizations, companies interested in int’l financial center in central Vietnam city

More than 40 organizations and businesses, including several European partners, have expressed interest in becoming members of the International Financial Center (IFC) in the central city of Danang, according to a local leader.

Notably, StartupBlink has selected Danang as one of 12 prominent global ecosystems to showcase its achievements, added Ho Quang Buu, Vice Chairman of the municipal People’s Committee at the 2025 Switzerland-Vietnam Economic Forum (SVEF), which was held in the city from Monday to Wednesday. StartupBlink is an innovation economy research platform.

Vietnam is building an international financial center, located in both HCMC and Danang.

According to Buu, Danang is shaping a new development space. Following the recent merger with Quang Nam province, it has become the largest centrally-governed city in Vietnam, covering nearly 12,000 square kilometers with a population exceeding 3 million.

The city boasts two international-standard airports, three international seaports, and key economic zones, including a Free Trade Zone (FTZ) and the IFC. It also enjoys special policies and mechanisms.

Danang targets double-digit economic expansion for the year. To date, the city has attracted 1,282 FDI projects with total registered capital of over $10.96 billion.

In August 2025, the Danang People’s Committee established the Advisory Council for the Development of Vietnam’s International Financial Center, bringing together numerous experts, banking leaders, and domestic and international businesses.

The council is tasked with conducting research and providing advice to the city’s leadership and IFC regulators on the development strategy; governance model; incentives for the center in terms of finance, land use, legal and support services, as well as training programs for high-quality human resources; and policies to attract global experts and overseas Vietnamese professionals.

Last Saturday, at a national meeting on establishing the IFC, Prime Minister Pham Minh Chinh affirmed the principle of “one center – two destinations”, meaning two management agencies in the two cities, but a single supervisory authority and a specialized court to handle disputes.

The Prime Minister also instructed relevant agencies to urgently finalize a government decree to enable the financial center to begin operations within November.

Speaking at the forum, Dr. Philipp Rösler, president of the Switzerland-Vietnam Economic Forum (SVEF), highlighted that although Switzerland and Vietnam differ in many respects, they share key similarities such as diligence, discipline, and a strong sense of responsibility.

These shared values provide a solid foundation for expanding cooperation, not only in economy but also in education, science, research, and especially in connecting young generations, the future of both nations, Dr. Rösler said.

Given Vietnam’s political stability and strong economic momentum, now is the ideal time to boost bilateral collaboration. Vietnam is no longer a frontier market, it has become an emerging market full of potential, actively contributing to global value chains, he noted.

Vice Chairman of the municipal People’s Committee Ho Quang Buu said that the recent upgrade of Vietnam-Switzerland relations to a Comprehensive Partnership marks the beginning of a new era of broad and sustainable cooperation. This development also creates favorable conditions for Vietnamese localities, including Danang, to further strengthen ties and expand cooperation with promising Swiss partners.

Although FDI cooperation between Danang and Switzerland remains modest with three projects totaling around $1.13 million, Buu noted that the city sees tremendous potential in Swiss strengths such as finance, high technology, and tourism.

He expressed his hope that Swiss and international investors will explore investment opportunities in the city, particularly in tourism and port development.