Signatories to the MoU were Ho Ky Minh, permanent vice chairman of the Da Nang People's Committee, and Andy Khoo, CEO of Teme Holdings Pte. Ltd (Singapore).

As part of the collaboration, the joint venture also awarded 10 scholarships to support the training of high-quality personnel for the city. The training programme, which will begin in Singapore this September, is designed for selected officials, civil servants, and public employees expected to play key roles in the future Da Nang International Financial Centre.

The signing followed a working session held on June 25 between municipal leaders and representatives from Teme Holdings, The One Destination Company, and NHS Land Company. The session focused on joint efforts to develop the planned international finance centre and a free trade zone in Da Nang.

Under the agreement, the joint venture will work with the city to implement strategic investment projects across several key sectors, including finance, financial services, urban development, modern sports, and the free trade zone.

The Da Nang International Financial Centre is envisioned as a regional financial hub aligned with Vietnam’s global integration goals, with a focus on facilitating international capital flows.

The centre will operate in a dedicated zone with a flexible governance model and be granted special tax, financial, and legal incentives to attract global financial institutions.

Legal frameworks, planning, and preferential policies are currently being finalised, with construction expected to begin in the 2025–2030 period.

Vietnam develops roadmap for establishing international financial centre

Vietnam is developing a roadmap for establishing an international financial centre (IFC), with the aim of building connections with major IFCs both regionally and globally.