This conference took place in Frankfurt, Germany on September 30 (local time).
Speaking at the conference, Deputy Minister of Finance Tran Quoc Phuong affirmed that Vietnam is actively developing international financial centers in Ho Chi Minh City and Da Nang. Of which, Da Nang has significant potential for fintech development.
Vietnam is committed to facilitating financial institutions, protecting investor rights, and creating conditions for the rapid development of financial center models, which are relatively new sectors in Vietnam.
Chairman of the Da Nang City People’s Committee Pham Duc An stated that the city is ready to undertake the mission of developing a financial center oriented toward fintech, cross-border commerce and startup support.
Currently, Da Nang is investing in enhancing its data infrastructure, airports, seaports, and free trade zones, as well as training international financial human resources.
At the conference, delegates from both countries engaged in in-depth discussions on emerging trends, including digital finance, blockchain, and green finance, as well as opportunities for cooperation between international financial institutions and Vietnamese banks.
During the conference, Standing Deputy Prime Minister Nguyen Hoa Binh praised the proactive efforts of Ho Chi Minh City and Da Nang, affirmed that Frankfurt serves as an ideal model for Vietnam to reference in developing financial centers based on three pillars, including legal framework, infrastructure and human resources.
The Standing Deputy Prime Minister proposed a cooperation program between the Frankfurt financial center and the two Vietnamese localities for a mutual benefit, focusing on digital finance and green finance which Germany has expertise and a willingness to collaborate.
Within the framework of the conference, the Da Nang City People’s Committee signed a memorandum of understanding to develop the financial center with Frankfurt Main Finance.
Earlier, on the afternoon of September 29, the leaders' delegation from the Da Nang City People’s Council and People’s Committee attended the annual congress of the World Alliance of International Financial Centers (WAIFC).
The Politburo approved the policy of establishing international financial centers in Ho Chi Minh City and Da Nang with special, advanced mechanisms, as well as still maintaining appropriate risk supervision.
Under the orientation of the Da Nang City Party Committee, the Da Nang International Financial Center will develop in a specialized, green and smart direction, connected to international finance, fintech and free trade.
