Danang promotes investment opportunities in Singapore

Danang promotes investment opportunities in Singapore

The Danang Investment Forum 2025 was held on March 3 in Singapore, underscoring Vietnam’s strategic ambition to position itself as a key financial hub in Southeast Asia and commitment to regulatory innovation and international collaboration.

Organised by Danang People’s Committee in collaboration with Terne Holdings, the forum brought together close to 200 government leaders, global investors, and financial experts to explore the city’s transformation into a dynamic financial centre and the opportunities it presents for Singaporean investors.

About 200 government leaders, global investors, and financial experts attended the Danang Investment Forum 2025 in Singapore. Photo: Terne Holdings

The event, a key highlight of Danang’s high-level delegation visit to Singapore, was officiated by Nguyen Van Quang, Secretary of Danang's Party Committee, and Tran Phuoc Anh, Ambassador of Vietnam to Singapore.

“Danang is rapidly developing and actively embracing scientific advancements to drive its growth. As Vietnam pursues its ambition of becoming an international financial centre in Southeast Asia, the city plays a crucial role in realising this vision by creating value-driven opportunities in the financial sector,” said Anh.

“Singapore, already one of Vietnam’s largest investors, is poised to strengthen its economic ties further. With a commitment to increasing bilateral trade by 10 per cent annually, both nations are working towards reaching a trade volume of over $31 billion, solidifying their strategic economic partnership,” he added.

As one of Vietnam’s six centrally governed cities, Danang is emerging as a key regional growth hub, driven by world-class infrastructure, innovation-driven industries, and progressive economic policies.

The city has identified two key drivers for future development: Danang International Financial Centre and Danang Free Trade Zone.

Strategically positioned at the crossroads of major ASEAN economies, it plays a vital role in the economic, political, and national defence landscape of both the central region and Vietnam. With a strong regulatory framework and significant infrastructure investments, the city aims to attract financial institutions, asset managers, and fintech firms looking to expand into the ASEAN market.

Following Politburo approval in November 2024, Danang is advancing plans to establish Vietnam’s first regional financial centre, positioning itself as a key player in the global financial landscape.

Andy Khoo, general director of Terne Holdings, stated, "Danang's strategic location near key trade routes of the Regional Comprehensive Economic Partnership and the Comprehensive and Progressive Trans-Pacific Partnership, along with its proximity to Tien Sa and Lien Chieu ports, positions it as a natural hub for trade finance. small- and medium-sized enterprises in ASEAN, one of the most underserved markets, face an annual unmet trade finance demand of $200 billion. The centre can bridge this gap by introducing innovative trade finance solutions and enabling seamless cross-border capital movement."

The forum also highlighted the growing financial and economic ties between Vietnam and Singapore, reinforced by the recent in-principal agreement to establish a comprehensive strategic partnership. With Singapore serving as a key financial gateway for ASEAN, investors and financial institutions are well-positioned to explore new opportunities in Vietnam’s banking, fintech, and green finance sectors.

“Vietnam and Singapore share a strong and dynamic financial partnership, built on mutual trust and a shared vision for sustainable economic growth. As Singapore continues to serve as a key financial gateway for ASEAN, enhanced collaboration in banking, fintech, and green finance will unlock new investment opportunities and drive innovation across our financial sectors,” Anh shared.

“By deepening our cooperation, we can accelerate Vietnam’s financial integration into global markets, strengthen regulatory frameworks, and create a resilient, future-ready financial ecosystem that benefits businesses and investors in both nations,” he said.

VIR