Business

Vietnam International Financial Centre in Da Nang ranked 71st globally

VIFC-DN’s debut at 71st marks a notable international milestone for a financial centre still under development, reflecting the foundations that the centre and Da Nang are gradually building to connect with international capital flows, financial institutions and markets.

The Vietnam International Financial Centre in Da Nang (VIFC-DN) is ranked 71st in the latest Global Financial Centres Index. (Photo: baochinhphu.vn)
The Vietnam International Financial Centre in Da Nang (VIFC-DN) is ranked 71st in the latest Global Financial Centres Index. (Photo: baochinhphu.vn)

Da Nang (VNA) – The Vietnam International Financial Centre in Da Nang (VIFC-DN) has been ranked 71st among 117 financial centres worldwide in the latest Global Financial Centres Index (GFCI), an official said on October 1.

Dang Dinh Duc, Standing Vice Chairman of the VIFC-DN Executive Agency, said the centre made its debut in the GFCI 40 ranking, which assessed 117 of 139 financial centres studied globally.

VIFC-DN’s debut at 71st marks a notable international milestone for a financial centre still under development, reflecting the foundations that the centre and Da Nang are gradually building to connect with international capital flows, financial institutions and markets, Duc said.

He described the ranking as a starting point and a motivation for VIFC-DN to accelerate efforts to turn a financial centre in Da Nang into reality.

Building on the city’s potential and advantages, as well as support from the government, ministries and sectors and cooperation with international organisations, financial institutions, technology firms and domestic and foreign partners, VIFC-DN will continue to improve its institutional framework, develop human resources, promote new financial products and expand global connectivity, Duc said.

The centre also aims to support investors in establishing and expanding their operations in Da Nang, contributing to a transparent, favourable and competitive business environment.

Meanwhile, the Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC) ranked 67th in the global financial centres ranking.

Unlike rankings based solely on transaction volumes or capital flows, the GFCI assesses the competitiveness of financial centres across multiple dimensions. The GFCI 40 combines 144 quantitative factors with 39,531 assessments from 6,147 professionals in financial affairs and professional services, focusing on five key areas: business environment, human capital, infrastructure, financial sector development and international reputation./.

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