At the meeting, Standing Vice Chairman of the Da Nang People's Committee Ho Ky Minh said that the Financial Center is one of the three main components identified in the project to build Da Nang into a regional financial center. The Da Nang People's Committee is assigning relevant departments, branches and units to focus on completing the Project based on the structure and content of the Government's Steering Committee for the development of the Regional and International Financial Center Project.

Standing Vice Chairman of Da Nang City People's Committee Ho Ky Minh (middle) raised issues that Da Nang needs ADB support for.

According to Mr. Minh, Da Nang currently does not have a reference model or model for building a financial center. Therefore, the consulting unit's support and provision of some international financial center models associated with model characteristics, key areas, basic development policies and strategies, etc. is something the local government is very interested in.

The group of policies for developing financial technology in particular and the policies for building Da Nang City into a regional financial center are still being researched and completed by the locality, ministries, and agencies in coordination with the Ministry of Planning and Investment.

Recently, the National Assembly issued Resolution 136/2024/QH15 on the organization of urban government and piloting a number of specific mechanisms and policies for the development of Da Nang City. In particular, Da Nang is allowed to pilot a mechanism to support innovative start-up activities and controlled testing of new technological solutions.

Working session overview

After listening to the issues raised by the Da Nang City government, Ms. Nguyen Hong Giang, Senior National Program Officer of SECO in Vietnam, said that the immediate difficulty is that there is no model or reference model in building a financial technology center. In terms of preferential policies and specific features, it depends largely on the institutional framework of the country, so it is necessary to discuss what level of piloting is appropriate. Based on the exchange and field survey in 2 days, the Working Group will have recommendations for Da Nang in building a financial center...