Đà Nẵng City hosts an investment promotion event in Switzerland for development of an International Finance Centre, Fintech, semiconductor&AI, hi-tech industries, innovations and digital transformation in Đà Nẵng. Photo courtesy of Liên Phương

ĐÀ NẴNG — Casting a wide net for global capital, the central city is calling on international partners to invest in the development of an International Finance Centre, fintech, semiconductor and artificial intelligence (AI), hi-tech industries, innovation and digital transformation, as it seeks to position Đà Nẵng as a preferred rendezvous for green finance, fintech, innovation and hi-tech industries in the Asia-Pacific region.

Vice Chairman of the city’s People’s Committee Hồ Quang Bửu made the remarks during discussions and sharing sessions at the investment promotion exchange event titled Đà Nẵng – A New Hub for Green Capital and Digital Finance, held with participation from the city’s leadership and partners in Switzerland. He said Đà Nẵng aims to build long-term strategic partnerships with international financial organisations and investors.

He added that the city will focus on establishing strong ties with key partners to meet sustainable development goals and to work hand in hand on innovation-driven cooperation under a long-term vision.

A working team of Đà Nẵng City shares a photo session with international partners in an investment promotion event in Switzerland. Photo courtesy of Liên Phương

“Đà Nẵng has been designed as a national centre of hi-tech industries, innovation, luxury services and a destination for international green finance, hosting green capital flows and the carbon credit market,” Bửu said.

“The city has offered clear investment opportunities in key transport infrastructure projects, including urban rail routes, Chu Lai Airport, quantum technology and fintech. Đà Nẵng has launched the Việt Nam International Financial Centre, the first financial centre model in Việt Nam, and the city urges more site visits by international financial institutions and hi-tech investors to Đà Nẵng in seeking deeper cooperation.”

Alexander De Croo, former Prime Minister of Belgium and Director-General of the United Nations Development Programme, highly appreciated Việt Nam’s decision to establish an International Financial Centre, saying it would create an effective channel for mobilising capital for green growth and sustainable infrastructure development plans.

He also confirmed the UNDP’s partnership with Việt Nam and Đà Nẵng City in boosting sustainable finance, innovation and inclusive growth.

An International Finance Centre is launched at Đà Nẵng City's Software Park No 2. It's the first ever IFC model in Việt Nam in making Đà Nẵng a favourite rendezvous of ‘green’ finance, FinTech, innovations and hi-tech industries in Asia-Pacific region. VNS Photo Công Thành

The Governor of the Japan Bank for International Cooperation, Nobumitsu Hayashi, applauded Việt Nam’s achievements in growth and reform and the launch of an International Financial Centre in Đà Nẵng City.

He also stressed Đà Nẵng’s role as a key urban centre in Việt Nam for the establishment of an International Financial Centre and reaffirmed JBIC’s support programmes for Việt Nam and Đà Nẵng in infrastructure projects, green transformation, digitalisation and green finance as the country works towards its 2050 carbon neutrality target.

Luca Tagliaretti, Executive Director of the EU Cybersecurity Competence Centre, raised concerns over building a laboratory for research and development in electronic technology in Đà Nẵng.

Zhang Ying, President of Singularity Academy, said she expected Đà Nẵng to become an attractive destination for investment, education and innovation and that the academy would seek closer cooperation with the city in the coming period.

Representatives of Citi Group, Vauban Infrastructure Partner, SwissCham Asia, Cambridge Ventures, Swiss FinTech Association and Tether, a blockchain-enabled platform, also expressed interest in the development of International Financial Centres in Việt Nam, as well as start-up and fintech projects in Đà Nẵng City, alongside support and cooperation programmes for the city.

An engineer works at an electronic manufacture factory in Đà Nẵng City Hi-tech Park. The city has called for investment from international partners in hi-tech industries, finance, semiconductor&AI. Photo courtesy of Quang Huy

The city’s leadership also held working sessions with Yubico, a global cybersecurity company, the Lithuanian Cryptocurrency Economic Organization, which represents Lithuania’s fintech and blockchain ecosystem, and Coinbase of the United States, one of the world’s largest digital asset exchanges, to build and monitor the digital asset market and provide consultancy on developing an International Financial Centre in Đà Nẵng.

Đà Nẵng has extended invitations to partners to attend the Economic, Financial and Technology Forum in the city in July.

Vice Chairman Bửu said that 40 organisations and partners have registered to participate in the development of an International Financial Centre in Đà Nẵng City.

Last year, Đà Nẵng signed a trilateral memorandum of understanding on the development of the Đà Nẵng International Financial Centre with Consessor AG, a Swiss strategic advisory firm focusing on internationalisation and market entry, and VinaCapital Group during the World Economic Forum in Switzerland.

The city introduced 12 key organisations and financial institutions as members of the Đà Nẵng International Financial Centre, including Makara Capital Việt Nam Holding, Bybit Technology Việt Nam, Đà Nẵng Fintech Lab, Siglaw IFC, DTC Pay Việt Nam, APEX Việt Nam IFC Services, Valverde Investment Partners, Misa Novafinx and Remi Tech.

It has set a target of having at least five financial technology businesses with annual revenues of more than VNĐ1 trillion, equivalent to US$40 million, and at least two or three of them employing 1,000 people by the end of 2030. VNS