VIAC Holds a Working Session with Vietnam International Financial Centre in Da Nang (VIFC-DN)

In June 14, in Da Nang, Vietnam International Arbitration Centre (VIAC), in coordination with Vietnam Lawyers Association and Vietnam Chamber of Commerce and Industry (VCCI) – Central Highlands and Central Coast Branch, held a working session with Vietnam International Financial Centre in Da Nang (VIFC-DN). The meeting focused on discussing potential areas of cooperation and strengthening the legal ecosystem to support the establishment and operation of the international financial centre

Attending the meeting on behalf of Vietnam International Arbitration Centre (VIAC), were Prof. Dr. Le Hong Hanh - President of VIAC; Mr. Vu Anh Duong - Esq., Vice President and Secretary General, together with VIAC professional staff. Representing the Vietnam Lawyers Association was Mr. Nguyen Khanh Ngoc - President of the Association. Representing VCCI was Mr. Nguyen Tien Quang - Director of the VCCI Central Highlands and Central Coast Branch. The Vietnam International Financial Centre in Da Nang (VIFC-DN) was represented by Mr. Dang Dinh Duc - Standing Vice Chairman of the Executive Board, Mr. Oscar Njuguna - Head of Membership, along with members of the Centre's professional staff.

Mr. Nguyen Khanh Ngoc - President of Vietnam Lawyers Association, emphasized that as the Central Region continues to attract an increasing number of investment projects, strengthening legal institutions particularly commercial arbitration has become an essential requirement. He further noted that a stronger presence of institutions such as the Vietnam International Arbitration Centre (VIAC) in Da Nang would contribute significantly to enhancing the investment environment, especially as the city advances key initiatives, including the development of a free trade zone and an international financial centre.

Representing Vietnam International Financial Centre in Da Nang (VIFC-DN), Mr. Dang Dinh Duc - Standing Vice Chairman of the Executive Board, stated that the Centre officially commenced operations in early 2026 with the goal of serving as a key gateway for attracting and channeling international capital flows. To date, the Centre has granted approvals to 12 investors and continues to receive strong interest from both domestic and international organizations. According to Mr. Duc, while attracting between USD 5 billion and USD 10 billion in investment remains an important objective, an even greater priority is ensuring the economy's capacity to effectively absorb and utilize these capital inflows.

Mr. Dang Dinh Duc - Standing Vice Chairman of the Vietnam International Financial Centre in Da Nang (VIFC-DN), speaking during session.

One of the key topics discussed during the meeting was the dispute resolution mechanism for investment activities. Prof. Dr. Le Hong Hanh - President of Vietnam International Arbitration Centre (VIAC), emphasized that in international financial centres, dispute resolution should not be regarded as the "final step" but rather as the "first step." Once capital begins to flow, disputes are inevitable; without an effective mechanism to resolve them, the entire financial ecosystem may face significant disruption.

Prof. Dr. Le Hong Hanh - President of the Vietnam International Arbitration Centre (VIAC) during the session.

From this perspective, VIAC proposed participating in the Vietnam International Financial Centre in Da Nang (VIFC-DN) as an independent institution providing dispute resolution services and legal risk prevention advisory from the outset. According to Prof. Dr. Le Hong Hanh, engaging reputable and independent arbitral institutions would help ensure objectivity and transparency while strengthening investor confidence. In addition, VIAC emphasized that its role extends beyond resolving disputes to proactively preventing potential disputes—an essential element of effective legal risk management.

Alongside the development of a robust legal framework, the Vietnam International Financial Centre in Da Nang is also pursuing the development of emerging financial models, including digital assets, supply chain finance, fund management, and asset tokenization, with the aim of expanding capital mobilization channels and enhancing access to international investors. The Centre is also exploring new sectors such as carbon credits and commodity derivatives, in conjunction with the development of a pipeline of projects that meet international standards.

Under the current development plan, Vietnam's international financial centre model will be implemented in two locations: Ho Chi Minh City and Da Nang. Ho Chi Minh City will continue to focus on the development of traditional financial services, while Da Nang will serve as a hub for innovation and the pilot implementation of new financial models.

At the conclusion of the meeting, the parties agreed to further strengthen cooperation in researching and proposing solutions to enhance the legal ecosystem, with particular emphasis on establishing an independent and effective dispute resolution mechanism. Such a mechanism was recognized as a fundamental pillar for ensuring a transparent and stable investment environment, thereby supporting the sustainable development of the Vietnam International Financial Centre in Da Nang in the years ahead.