Da Nang — International-standard infrastructure, a transparent legal framework, and digital technology are the keys that experts say will help Vietnam attract global capital. On July 9, at the 'Vietnam
Finance 2026' forum, Rich McClellan, CEO of the Vietnam International Financial Center in Ho Chi Minh City, said the biggest objective today is to build market infrastructure to standard that can attract international capital for the next development phase. This model is a long-term national strategy, implemented in Ho Chi Minh City and Da Nang as two complementary components of a single national financial center, rather than competing with each other. The international financial center develops three core areas: trade finance and supply chains, climate and energy finance, and digital assets. 'Beyond the legal framework, the success of Vietnam's international financial center will depend on the participation of financial institutions, businesses, and international experts,' McClellan said. Mr. Chris Vanloo, President of the Central Vietnam Business Alliance, said that six months after the project was announced, the financial center project has been rolled out in Ho Chi Minh City and Da Nang, attracting founding partners and initial capital. He said what Vietnam needs now are concrete capital commitments and practical steps for implementation, rather than more ideas. Drawing on international experience, Mr. Jeffrey Singer, former CEO of the Dubai International Financial Centre, said the most important foundation for building a successful financial center is a transparent legal and regulatory system that can build investor confidence. He cited the 2009 financial crisis in the UAE, where quickly establishing a transparent debt-resolution mechanism to international standards and adopting English common law helped Dubai restore market confidence. This foundation enabled a strong return of international capital. For Vietnam, Singer assessed that the economy has many advantages, including high growth, robust trade, and positive FDI flows. Entering a new development phase, Vietnam is advised to complete a long-term legal framework to unlock international capital. 'If a high-growth economy is combined with a modern, transparent legal system, Vietnam will have the opportunity to become an attractive destination for global investors,' Singer said. Meanwhile, Jochen Biedermann, CEO of the International Centers Alliance, said two notable trends shaping the next generation of financial centers are artificial intelligence (AI) and digital assets. For instance, Kazakhstan’s Astana International Financial Centre (AIFC) aims to operate with a fully AI-integrated model, or BIS developing next-generation payment infrastructure allowing
trading of multiple types of digital assets. Biedermann said Vietnam should quickly embrace these trends to enhance competitiveness. At the forum, Ho Kỳ Minh, Standing Vice Chairman of the Da Nang People’s Committee, said the special mechanisms of the National Assembly and Decree 323 are essential foundations helping form a financial center that operates in line with international practices. Da Nang authorities state this is not just a functional area but a new institutional space to test financial models to international standards. The city plans to develop a new-generation financial center focused on innovation, fintech, and sustainable finance. In the initial phase, the city will prioritize five groups of core financial products and services, such as tokenization of real assets, credits and international carbon trading, commodity exchange, and mid- to long-term financing instruments. Minh said that transparent institutions, trust, a high-quality workforce, advanced technology, and a global network are decisive factors for the success of the international financial center. 'Da Nang will closely cooperate with agencies, and together with the business community, build a transparent and competitive
investment environment,' Minh affirmed.
